Mixed-Use Property with Office and
1032 Central Avenue, Albany, NY 12205
For Sale
$475,000
Commercial Sale, Albany, NY
Property Size1,721 SF
Lot Size0.31 Acres
Price / SF$276
Days on Market146
Property Features for 1032 Central Avenue
General Information
Property type
Property subtype
Zoning
Parking
Interior features
Basement
Lot features
Elementary school
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Building materials
Roof type
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Heather Hamlin Martin · License #10301219767
(518) 308-8986
Added: Jun 15
Changed: Oct 2
Last Checked: Nov 7 at 10:06PM
MLS# 202619642
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.
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Investment Insights
Based on property information with market context.
This 1,721-square-foot mixed-use property combines professional office space on the first floor with a well-maintained apartment above. Built in 1932, the brick building includes built-in features, wall-unit cooling, natural gas hot-water heating, a shingle roof, and public water and sewer service. Both the commercial and residential areas will be vacant at closing.
The property occupies 0.31 acres on Central Avenue in Albany, with approximately 15 on-site parking spaces. It is located about 2 minutes from the Everett Road exit and carries Commercial zoning, providing a practical configuration for an owner-user or income-oriented buyer.
The property occupies 0.31 acres on Central Avenue in Albany, with approximately 15 on-site parking spaces. It is located about 2 minutes from the Everett Road exit and carries Commercial zoning, providing a practical configuration for an owner-user or income-oriented buyer.
Key Highlights
- 1,721 SF mixed‑use building with office space and an apartment
- 0.31‑acre property on Central Avenue in Albany
- Approximately 15 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,284
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,680
$405.7K
Cap Rate 7%
$289,771
$289.8K
Cap Rate 9%
$225,378
$225.4K
Market Conditions
NOI Build-Up for 1,721 SF
Gross rent
$36.1K $21.00/SF
− Vacancy
−$3.7K −$2.14/SF
EGI
$32.5K $18.86/SF
− OpEx
−$12.2K −$7.07/SF
NOI
$20.3K $11.79/SF
Area
Albany, NY
Vacancy
10.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,680
Cap Rate 7%
$289,771
Cap Rate 9%
$225,378
Alternative Uses
Best Use
Mixed Use
$289.8K
$253.6K – $338.1K
NOI $20,284 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$251.1K
$219.8K – $293.0K
NOI $17,580 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$454.0K
$397.3K – $529.7K
NOI $31,783 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
960
Businesses Nearby
Explore this area
Business Placement
Demographics for 12205, NY
27,168
Population
12,061
Households
2.3
Avg Household Size
45
Median Age
36%
College-Educated
94%
High-School Grad
15.4 sq mi
ZIP Area
1,764
Density / Sq Mi
$89,270
Median Household Income
$54,184
Median Earnings
$1,405
Median Rent
$264,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Albany, NY
Properties on Market for Mixed-use properties in Albany
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level commercial property with professional office space, an upper apartment, and on-site parking.
Where is this mixed-use property located?
The property is located at 1032 Central Avenue Albany, NY.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1,721 SF mixed‑use building with office space and an apartment; 0.31‑acre property on Central Avenue in Albany; Approximately 15 on‑site parking spaces
