Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    162-168 Jeffferson St Albany, NY 12210

    Sponsored
    For Sale
    $2,800,000

    MULTI_FAMILY - Other - Albany, NY

    Property size:
    10,000 SF
    Lot size:
    0.07 Acres
    Days on Market:
    86
    Last Refresh:
    Jan 28 at 3:06 pm

    Property Features for 162-168 Jeffferson St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Window features
    Wood Frames, Double Pane Windows
    Zoning
    Commercial
    Rooms
    Bathroom 7, Bedroom 6, Bathroom 9, Bedroom 1, Bathroom 5, Bedroom 12, Bedroom 9, Bathroom 6, Bedroom 3, Bedroom 10, Bedroom 2, Bathroom 4, Bathroom 10, Bedroom 4, Bedroom 5, Bedroom 7, Bathroom 1, Bathroom 2, Bedroom 8, Bathroom 8, Bathroom 3, Bedroom 11
    Bedrooms
    12
    Bathrooms
    9
    APN
    76.32-5-3
    Patio and Porch features
    Patio
    Interior features
    Paddle Fan, Wet Bar
    Basement
    Full, Unfinished
    Size
    10,000 SF
    Lot size
    0.07 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Zoned, Natural Gas, Baseboard, Hot Water(Heating)
    Water source
    Public

    Building Details

    Year built
    1880
    Number of units
    9
    Flooring type
    Hardwood, Laminate
    Building materials
    Fiber Cement, Stucco, Wood Siding
    Roof type
    Rubber, Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    John S DiBlasi
    John S DiBlasi

    DiBlasi Real Estate (518) 857-1505

    Listing agent John S DiBlasi (518) 857-1505 License #10491211230

    Listing date Nov 4, 2025

    MLS# 202528997 Listing URL

    Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Albany Mixed-Use Investment Opportunity

    This investment opportunity includes four adjoining buildings, featuring a well-known tavern, eight apartments, and additional commercial space. The 'Palais Royale' Bar and Grill is included, complete with its liquor license, ATM, dartboard, pool table, wall-mounted jukebox, TVs, and all furniture, fixtures, and equipment (FFE). The full kitchen is equipped with a halon fire suppression system. The properties consist of: 162 Jefferson St (two units, one 2-bedroom and one 1-bedroom apartment), 164 Jefferson St (Palais Royale Bar and Grill with a 1-bedroom apartment upstairs), 166 Jefferson St (two units, both 2-bedroom apartments), and 168 Jefferson St (three units) with two apartments upstairs (one 2-bedroom and one 1-bedroom) and a 1,860 sq ft commercial space on the first floor. The commercial unit features hardwood floors, a private bar, and high ceilings. All tenants are month-to-month. The four buildings, totaling approximately 10,000 sq ft on a 0.07-acre lot, are zoned R2C. The location is in Albany, NY.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars

    Similar Places Nearby

    Ben & Jerry’s, Todd’s Back Room Cigar Lounge, Palais Royale, OH Bar, Lionheart Pub and Brewery

    Map

    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.76577
    Latitude
    42.650461

    Nearby Similar for Sale

    • $1,300,000
      0.51 Acres

      Versatile Commercial Property on Central Avenue

      43,520 sq ft commercial property with diverse spaces and parking.
      233 Central Ave, Albany, NY 12206
      View Details
    • $830,000
      3,438 SF

      Corner Albany Multifamily Investment Opportunity

      Rare Albany multifamily property near Washington Park with income potential.
      70 Willett St, Albany, NY 12210
      View Details
    • $369,000
      Pending

      Mixed-Use Property in Colonie, NY

      Versatile mixed-use property with new roof and convenient location.
      34 Russell Rd, Colonie, NY 12205
      View Details
    • $500,000
      3,272 SF

      Renovated Mixed-Use Building with Restaurant

      Renovated mixed-use building with turn-key restaurant and apartment.
      165 Madison Avenue Ext, Albany, NY 12202
      View Details
    • New
      $1,450,000
      Pending

      Freestanding Building on Central Avenue

      12000 SF commercial building with high traffic and visibility.
      1735 Central Ave, Colonie, NY 12205
      View Details
    • $380,000
      2,042 SF

      Renovated Albany Duplex with Garage

      Renovated Albany duplex with separate utilities, garage, and large lot.
      212 Ontario St, Albany, NY 12203
      View Details
    • $574,900
      Pending

      Albany Multifamily Investment Opportunity

      Six-unit Albany property with income potential in a quiet neighborhood.
      42 Ten Eyck Ave, Albany, NY 12209
      View Details
    • $325,000
      Pending

      Albany Multifamily Investment Opportunity

      Four-unit property with long-term tenants and garage near downtown Albany.
      128 Hamilton St, Albany, NY 12207
      View Details
    • New
      $500,000
      3,272 SF

      Renovated Mixed-Use Building with Restaurant

      Renovated mixed-use property with turn-key restaurant and apartment.
      165 Madison Avenue Ext, Albany, NY 12202
      View Details
    • $759,900
      3,160 SF

      Mixed-Use Building in Center Square

      Mixed-use property with commercial space and residential units in Albany.
      197 Lark St, Albany, NY 12210
      View Details
    • $759,900
      4,360 SF

      Mixed-Use Building in Center Square

      Mixed-use property with commercial space and residential units.
      197 Lark St, Albany, NY 12210
      View Details
    • $1,350,000
      Pending

      Mixed-Use and Residential Portfolio

      Three buildings for sale near Albany Medical Center and St. Peter's Hospital.
      423 Quail St, Albany, NY 12208
      View Details

    FAQs

    What type of property is this?
    Bar - Four buildings with a bar, apartments, and commercial space.
    Where is this bar located?
    The property is located at 162-168 Jeffferson St Albany, NY.
    What is the asking price?
    The asking price for this property is $2,800,000.
    What are key features of this property?
    This property features: - High Income Potential: Potential rents over six figures from 8 apartments plus income from the established 'Palais Royale' Bar and Grill.; - Turnkey Business: Includes the 'Palais Royale' Bar and Grill with liquor license and equipment.; - Four-Building Package: Purchase includes the bar building and 3 additional adjoining rental properties containing 8 apartments.
    (518) 857-1505
    Request Owner's contact information
    162-168 Jeffferson St Albany, NY 12210
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    162-168 Jeffferson St
    Albany, NY 12210
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    162-168 Jeffferson St Albany, NY 12210
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    John S DiBlasi
    John S DiBlasi
    Real Estate License ID: 10491211230
    (518) 857-1505
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.