Restaurant Space with
113 State St, Albany, NY 12207
For Sale
New
Contact for pricing
A downtown Albany food-service space includes ground-floor area and an unfinished basement for storage and utilities.
Property Size6,720 SF
Days on Market1
Property Features for 113 State St
General Information
Standard status
Size
Property subtype
Additional Details
Floor
Utilities to Site
Building Details
Year Built
Listing Agency:
Renovo Real Estate LLC
Listed By:
Brian Walters · License NY 30WA0832219
(518) 526-1800
Source:
Albanyprimeproperties
Added: Nov 10
Last Checked: Nov 10 at 2:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Renovo Real Estate LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The restaurant space at 113 State St in Albany has a main-level area and a full, unfinished basement suited to storage and utilities. Forced-air heating serves the space, which has public water and sewer. The building dates to 1914.
The property is in downtown Albany, near the State Capitol and the downtown business district.
The property is in downtown Albany, near the State Capitol and the downtown business district.
Key Highlights
- Full unfinished basement for storage and utilities
- Main‑level restaurant space in downtown Albany
- Public water and sewer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,106
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,862,120
$1.9M
Cap Rate 7%
$1,330,086
$1.3M
Cap Rate 9%
$1,034,511
$1.0M
Market Conditions
NOI Build-Up for 6,720 SF
Gross rent
$133.1K $19.80/SF
− Vacancy
−$8.9K −$1.33/SF
EGI
$124.1K $18.47/SF
− OpEx
−$31.0K −$4.62/SF
NOI
$93.1K $13.86/SF
Area
Albany, NY
Vacancy
6.70%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,862,120
Cap Rate 7%
$1,330,086
Cap Rate 9%
$1,034,511
Alternative Uses
Best Use
Specialty Retail
$1.33M
$1.16M – $1.55M
NOI $93,106 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,105 @ 7.0% cap
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
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,093
Businesses Nearby
14k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 85%
Electronics 15%
Renaissance Albany Hotel
Hotels & Casinos
6,703 visits/mo
0.1 miles
Hampton Inn & Suites Albany Downtown
Hotels & Casinos
4,856 visits/mo
0.3 miles
Boost Mobile
Electronics
2,019 visits/mo
0.3 miles
Demographics for 12207, NY
2,399
Population
1,553
Households
1.5
Avg Household Size
37
Median Age
36%
College-Educated
90%
High-School Grad
1.0 sq mi
ZIP Area
2,399
Density / Sq Mi
$32,418
Median Household Income
$49,531
Median Earnings
$689
Median Rent
$242,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Conventional restaurants in Albany, NY
Properties on Market for Conventional restaurants in Albany
Vacancy Rate% for Retail in Albany, NY
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A downtown Albany food-service space includes ground-floor area and an unfinished basement for storage and utilities.
Where is this conventional restaurant located?
The property is located at 113 State St Albany, NY.
What are key features of this property?
This property features: Full unfinished basement for storage and utilities; Main‑level restaurant space in downtown Albany; Public water and sewer
