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Renovated Mixed-Use Building with Restaurant

165 Madison Avenue, Albany, NY 12202

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For Sale

$575,000

Commercial - Albany, NY

Property size:

3,272 SF

Lot size:

0.10 Acres

Price / SF:

$175/SF

Listing Contact

Joseph Cardinale

Real Estate License ID: 10401290174

HighLights

Turn‑key restaurant with full commercial kitchen, dining room, and entertainment stages.
Six‑car private parking in the back.
Beautiful downtown location near the Capital building and MVP Arena.
Entire building renovated in 2022 with high‑end finishes.
Turn‑key 2‑bedroom apartment on the second floor (estimated rent $2000).
Unit 1 commercial space (2022 SF) with front and back door access, 6‑burner stove, and commercial exhaust hood.

For Sale

$575,000

Commercial - Albany, NY

Property size:

3,272 SF

Lot size:

0.10 Acres

Price / SF:

$175/SF

Added:: Mar 4, 2025
Days on Market:: 464
Last Refresh:: Jun 11 at 6:06 am

Property Features for 165 Madison Avenue

General Information

Property type: Commercial Sale
Property subtype: Other
Zoning: 900
Bathrooms: 3
Rooms: Basement, Bathroom 1, Bathroom 2, Bathroom 3, Kitchen
Parking features: Garage
Basement Y/N: 1
Standard status: Active
APN: 010100-76.49-2-53
Size: 3,272 SF
Lot size: 0.10 Acres

Taxes and HOA fees

Tax Annual Amount: 11766

Utilities

Heating system: Forced Air, Natural Gas
Cooling system: Central Air

Building Details

Year built: 1890
Year renovated: 1890
Floors in Building: 2
Flooring type: Tile
Building materials: Brick, Wood Siding
Roof type: Flat
Architectural style: Other

We can help!

Listing Contact

Joseph Cardinale

Listing agent Joseph Cardinale

Listing office HOWARD HANNA CAPITAL INC 1547 RTE 9, CLIFTON PARK, NY

Listing date Mar 4, 2025

MLS# 11443003 Listing URL

HighLights

Turn‑key restaurant with full commercial kitchen, dining room, and entertainment stages.
Six‑car private parking in the back.
Beautiful downtown location near the Capital building and MVP Arena.
Entire building renovated in 2022 with high‑end finishes.
Turn‑key 2‑bedroom apartment on the second floor (estimated rent $2000).
Unit 1 commercial space (2022 SF) with front and back door access, 6‑burner stove, and commercial exhaust hood.

Overview

Located in downtown Albany, near the Capital building and MVP Arena, this mixed-use property features a renovated building with high-end finishes throughout. The entire building was renovated in 2022. The property is ideal for an owner-user. The property includes a turn-key, two-bedroom apartment on the second floor, with estimated rents of $2,000. The property also features a full basement and six-car private parking in the back. The turn-key restaurant includes a dining room, employee and customer restrooms, a full commercial kitchen, entertainment stages, and tables. The unit 1 commercial space is 2022 square feet with a front and back door entry, a six-burner stove, and a commercial exhaust hood. The property is a turn-key operation. The lot size is 0.1 acres. A new revitalization is coming to the neighboring building and surrounding area.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$64.8k	$19.80
− Vacancy	−$4.3k	−$1.33
EGI	$60.4k	$18.47
− OpEx	−$15.1k	−$4.62
NOI	$45.3k	$13.86

3,272 SF · lease $19.80/SF/yr · vacancy 6.70% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$647.6K

$566.7K – $755.6K (±1% cap)

NOI $45,334 @ 7.0% cap · market cap 7.88%

Second Best

Mixed Use

$550.9K

$482.1K – $642.8K (±1% cap)

NOI $38,565 @ 7.0% cap · market cap 6.71%

Theoretical Best

Office A

$863.2K

$755.3K – $1.01M (±1% cap)

NOI $60,427 @ 7.0% cap · market cap 10.51%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Conventional restaurants

Suggested Use

Location Insight

Map
Local Demand

City: Albany
County: Albany
State: New York
Longitude: -73.757212
Latitude: 42.646789

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For sale
Mixed-use properties
NY
Albany
12202
165 Madison Avenue

What type of property is this?

Mixed-use property - Turn-key restaurant and apartment in downtown Albany location.

Where is this mixed-use property located?

The property is located at 165 Madison Avenue Albany, NY.

What is the asking price?

The asking price for this property is $575,000.

What are key features of this property?

This property features: Turn‑key restaurant with **full commercial kitchen, dining room, and entertainment stages.**; Six‑car private parking in the back.; **Beautiful downtown location near the Capital building and MVP Arena.**

165 Madison Avenue, Albany, NY 12202

Commercial - Albany, NY

Property Features for 165 Madison Avenue

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Iconic Albany Restaurant and Pub

Established Delicatessen Business For Sale

Automotive Service Business for Sale

Automotive Service and Workshop

Albany Flex Industrial Building

Flexible Office Building with Gated Parking

Mixed-Use Property in Center Square

Historic Church and Parish Hall

Versatile Commercial Property on Central Avenue

Mixed-Use Building with Retail Frontage

Albany Commercial Property For Sale

Albany Office with Parking

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