Mixed-Use Triplex with Commercial
For Sale
$399,900
418 Madison Avenue, Albany, NY 12210
MULTI_FAMILY - Albany, NY
Property Size3,300 SF
Lot Size0.02 Acres
Price / SF$121.18
Days on Market76
Property Features for 418 Madison Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Mixed
Bedrooms
2
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 3
Basement
Full, Unfinished
Lot features
Level, Cleared
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Located on Madison Ave in the Center Square/Hudson Park neighborhood, near the corner of Lark St.
Standard status
Active
APN
010100 76.31-3-2 02
Size
3,300 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
6900
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1869
Number of units
3
Flooring type
Hardwood, Vinyl, Tile - Ceramic
Building materials
Block, Brick, Vinyl Siding
Roof type
Asphalt
Listing Agency:
Coldwell Banker Prime Properties · Coldwell Banker Real Estate
(518) 439-9600
Listed By:
Bahrija Basic · License #10401361924
(518) 331-6443
Added: May 26
Changed: Jul 24
Last Checked: Aug 9 at 12:06PM
MLS# 202618141
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 triplex includes a versatile first-floor commercial space with central air and a commercial kitchen setup. The second and third floors each provide a bright, well-appointed one-bedroom apartment, creating a straightforward live-and-work style configuration within the same building.
The property is located at 418 Madison Avenue in Albany’s Center Square/Hudson Park neighborhood, just steps from Lark St. The area is described as highly walkable and close to restaurants, shops, Washington Park, downtown amenities, and state offices.
With its commercial kitchen capability on the ground level and two separate one-bedroom units above, the building supports a range of business uses for the first floor while maintaining residential income from the upper floors under the mixed zoning designation.
The property is located at 418 Madison Avenue in Albany’s Center Square/Hudson Park neighborhood, just steps from Lark St. The area is described as highly walkable and close to restaurants, shops, Washington Park, downtown amenities, and state offices.
With its commercial kitchen capability on the ground level and two separate one-bedroom units above, the building supports a range of business uses for the first floor while maintaining residential income from the upper floors under the mixed zoning designation.
Key Highlights
- Mixed‑use property on Madison Ave in the Center Square/Hudson Park area, just steps from Lark St
- First‑floor commercial space with central air and a commercial kitchen setup for restaurant, cafe, retail, office, or other business use
- Second and third floors include bright one‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,709
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$674,180
$674.2K
Cap Rate 7%
$481,557
$481.6K
Cap Rate 9%
$374,544
$374.5K
Market Conditions
NOI Build-Up for 3,300 SF
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.
Gross rent
$65.3K $19.80/SF
− Vacancy
−$4.1K −$1.23/SF
EGI
$61.3K $18.57/SF
− OpEx
−$27.6K −$8.36/SF
NOI
$33.7K $10.21/SF
Area
Albany, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$674,180
Cap Rate 7%
$481,557
Cap Rate 9%
$374,544
Alternative Uses
Best Use
Specialty Retail
$653.2K
$571.5K – $762.0K
NOI $45,722 @ 7.0% cap · market cap 11.43%
Second Best
Multifamily LT 5
$536.9K
$469.8K – $626.4K
NOI $37,581 @ 7.0% cap · market cap 9.40%
Theoretical Best
Office A
$870.6K
$761.8K – $1.02M
NOI $60,944 @ 7.0% cap · market cap 15.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,899
Businesses Nearby
Explore this area
Business Placement
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex with a first-floor commercial kitchen setup and central air, plus two upstairs one-bedroom apartments, zoned mixed.
Where is this triplex located?
The property is located at 418 Madison Avenue Albany, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Mixed‑use property on Madison Ave in the Center Square/Hudson Park area, just steps from Lark St; First‑floor commercial space with central air and a commercial kitchen setup for restaurant, cafe, retail, office, or other business use; Second and third floors include bright one‑bedroom apartments
