Mixed-Use Building with
For Sale
$389,000
397 Clinton Avenue, Albany, NY 12206
COMMERCIAL - Other - Albany, NY
Property Size2,640 SF
Lot Size0.07 Acres
Price / SF$147.35
Days on Market157
Property Features for 397 Clinton Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed
Elementary school
Sheridan Preparatory Academy
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Central ave take left onto clinton, house is on the left side.
Standard status
Active
APN
65.64-4-62
Size
2,640 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
10039
Utilities
Sewer type
Public Sewer
Heating system
Oil
Water source
Public
Building Details
Year built
1873
Building materials
Brick, Vinyl Siding, Wood Siding
Architectural style
Other
Listing Agency:
Gabler Realty, LLC
(518) 935-4800
Listed By:
Thomas Ferrigan · License #10401233118
(518) 495-3683
Added: Feb 24
Changed: May 14
Last Checked: Jul 31 at 8:06AM
MLS# 202612390
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.
Investment Insights
Based on property information with market context.
This mixed-use property features a commercial storefront with an office in the rear. The building also includes two upstairs units, each with four bedrooms and one bath. The units have been freshly painted and feature updated flooring. The property's zoning is mixed. An adjoining lot is negotiable. There is a possibility for a garden floor apartment behind the storefront. The property size is 2640 square feet and the lot size is 0.07 acres.
Key Highlights
- Commercial storefront with office space offers immediate income potential.
- Two upstairs units, each with 4 bedrooms and 1 bath, provide rental income.
- Freshly painted and updated flooring enhance appeal and reduce immediate renovation costs.
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $55.4k | $21.00 |
| − Vacancy | −$5.7k | −$2.14 |
| EGI | $49.8k | $18.86 |
| − OpEx | −$18.7k | −$7.07 |
| NOI | $31.1k | $11.79 |
2,640 SF · lease $21.00/SF/yr · vacancy 10.20% · expense 37.50%
Alternative Uses
Best Use
Office B
$516.2K
$451.7K – $602.2K
NOI $36,132 @ 7.0% cap · market cap 9.29%
Second Best
Mixed Use
$444.5K
$389.0K – $518.6K
NOI $31,116 @ 7.0% cap · market cap 8.00%
Theoretical Best
Office A
$696.5K
$609.5K – $812.6K
NOI $48,756 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,081
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Albany, NY
Properties on Market for Mixed-use properties in Albany
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring a commercial storefront and residential units.
Where is this mixed-use property located?
The property is located at 397 Clinton Avenue Albany, NY.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Commercial storefront with office space offers immediate income potential.; Two upstairs units, each with 4 bedrooms and 1 bath, provide rental income.; Freshly painted and updated flooring enhance appeal and reduce immediate renovation costs.
