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

    493 S Pearl St Albany, NY 12202

    Sponsored
    For Sale
    $350,000

    COMMERCIAL - Other - Albany, NY

    Property size:
    5,148 SF
    Lot size:
    0.12 Acres
    Days on Market:
    4
    Last Refresh:
    Feb 1 at 11:06 am

    Property Features for 493 S Pearl St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    010100 76.72-6-9
    Parking
    15
    Size
    5,148 SF
    Lot size
    0.12 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1951
    Floors in Building
    2
    Architectural style
    Other

    We can help!

    Listing Contact
    Benjamin R Romer

    KW Platform (518) 724-5800

    Listing agent Benjamin R Romer (518) 368-3932 License #10401317745

    Listing date Jan 29, 2026

    MLS# 202525094

    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 Commercial Building with Parking

    Located in Albany's South End, this two-story commercial building offers 5,928 square feet of space. Situated on a corner lot with high visibility, the property includes 15 parking spaces. The building is currently configured as an auto repair shop, featuring service bays and overhead doors. Zoned for commercial use, it is suitable for light industrial or automotive businesses, as well as a variety of service-based businesses. The property is located minutes from downtown Albany, the Port of Albany, I-787, and Route 9W, providing accessibility and traffic exposure. The lot size is 0.12 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sam's Garage Auto Repair Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Similar Places Nearby

    Capital District Auto services llc, Speedy, Albany518autobody, AB's 24 Hour Road Service, Roberts Towing and Recovery

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.761716
    Latitude
    42.636007

    Nearby Similar for Sale

    • $2,800,000
      10,000 SF

      Albany Mixed-Use Investment Opportunity

      Four buildings with a bar, apartments, and commercial space.
      162-168 Jeffferson St, Albany, NY 12210
      View Details
    • $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
    • $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
    • New
      $410,000
      3,082 SF

      Albany Duplex Near Hospitals, University

      Charming duplex with income potential near Albany's key locations.
      78 S Pine Ave, Albany, NY 12208
      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

    FAQs

    What type of property is this?
    Auto shop - Two-story commercial building with parking in Albany's South End.
    Where is this auto shop located?
    The property is located at 493 S Pearl St Albany, NY.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: - High-visibility corner lot location in Albany's South End.; - 5,928 SF two-story commercial building with 15 parking spaces.; - Zoned for light industrial or automotive use, suitable for various service-based businesses.
    (518) 724-5800
    Request Owner's contact information
    493 S Pearl St Albany, NY 12202
    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.
    493 S Pearl St
    Albany, NY 12202
    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
    493 S Pearl St Albany, NY 12202
    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
    Benjamin R Romer
    Real Estate License ID: 10401317745
    (518) 724-5800
    Learn more
    Google sign-in failed. Please try again or use another login method.