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    Turnkey Albany Restaurant Opportunity

    494 Washington Avenue Albany, NY 12203

    Claim this Listing
    Pending
    $189,000

    COMMERCIAL - Albany, NY

    Property size:
    750 SF
    Lot size:
    0.04 Acres
    Added:
    Aug 5, 2025
    Days on Market:
    342
    Last Refresh:
    Jul 12 at 10:06 pm

    Property Features for 494 Washington Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Parking features
    On Street
    Standard status
    Pending
    APN
    010100 65.62-2-14
    Size
    750 SF
    Lot size
    0.04 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3435

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Building materials
    Aluminum Siding

    Listing agent Philip Sabatino License #10401299525

    Listing office Hanna Commercial 20 Aviation Road, Clifton Park, NY

    Listing date Aug 5, 2025

    MLS# 202523239

    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 commercial property in Albany, NY, presents a turnkey restaurant opportunity. Known as Dan's Place Two, this well-maintained property includes the building and all Furniture, Fixtures, and Equipment (FF&E). The property has been a neighborhood staple for generations, known for its welcoming atmosphere and loyal customer base. The building is situated in a convenient location with high visibility. The property is zoned commercial and has a lot size of 0.04 acres. The building size is 750 square feet. This is an opportunity for entrepreneurs, investors, or restaurateurs to continue its legacy or create something new.

    Key Highlights

    • Turnkey restaurant opportunity including building, FF&E.
    • Iconic Albany restaurant with established legacy.
    • Highly visible, well‑maintained property.

    Local Financial Insights For Specialty Retail

    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 $14.9k $19.80
    − Vacancy −$995 −$1.33
    EGI $13.9k $18.47
    − OpEx −$3.5k −$4.62
    NOI $10.4k $13.86
    750 SF · lease $19.80/SF/yr · vacancy 6.70% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $148.4K
    $129.9K – $173.2K (±1% cap)
    NOI $10,391 @ 7.0% cap · market cap 5.50%
    Second Best
    Retail
    $129.5K
    $113.3K – $151.0K (±1% cap)
    NOI $9,062 @ 7.0% cap · market cap 4.79%
    Theoretical Best
    Office A
    $197.9K
    $173.1K – $230.9K (±1% cap)
    NOI $13,851 @ 7.0% cap · market cap 7.33%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Turn key restaurants

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Auto Repair Shop HVAC Service Auto Parts Store Garden Center Pharmacy Storage Facility Bakery

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

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    FAQs

    What type of property is this?
    Restaurant - Iconic Albany restaurant for sale, includes building and all FF&E.
    Where is this restaurant located?
    The property is located at 494 Washington Avenue Albany, NY.
    What is the asking price?
    The asking price for this property is $189,000.
    What are key features of this property?
    This property features: Turnkey restaurant opportunity including building, FF&E.; Iconic Albany restaurant with established legacy.; Highly visible, well‑maintained property.
    Contact an agent
    (518) 376-2717
    We can help!
    Contact an agent
    Philip Sabatino
    Philip Sabatino
    Real Estate License ID: 10401299525
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