Mixed-Use Property with Restaurant
For Sale
$274,900
Pending
54 James Street, Albany, NY 12207
Street-level commercial space pairs with a one-bedroom apartment and private restroom.
Property Size1,008 SF
Days on Market41
Property Features for 54 James Street
General Information
Standard status
Pending
Size
1,008 SF
Zoning
Mixed
Restaurant
Commercial Hood
Yes
Grease Trap
Yes
Additional Details
Floor
Ground
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,047
Building Details
Year Built
1910
Buildings
1
Stories
2
Listing Agency:
Kellie Kieley Realty LLC
Listed By:
Brian A Amaral · License #10301220733
(518) 250-9499
Source:
Capmarkrealty
Added: Jul 24
Changed: Aug 31
Last Checked: Sep 1 at 2:49PM
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 Kellie Kieley Realty LLC
Investment Insights
Based on property information with market context.
Built in 1910, this mixed-use property combines a street-level commercial space with a second-floor one-bedroom apartment. The commercial area includes a built-in commercial kitchen hood, grease trap, and private restroom, supporting restaurant-oriented operations while allowing other permitted commercial uses. The property measures 1,008 square feet and is being sold in its existing condition.
The building is positioned directly across from Tricentennial Park in downtown Albany, with access to nearby businesses, restaurants, government offices, public transportation, and major highways. Both components are scheduled to be delivered vacant beginning August 15, giving an owner the option to occupy the commercial space, establish separate tenancies, or use the building as a live/work property. The roof was replaced in August 2020.
The building is positioned directly across from Tricentennial Park in downtown Albany, with access to nearby businesses, restaurants, government offices, public transportation, and major highways. Both components are scheduled to be delivered vacant beginning August 15, giving an owner the option to occupy the commercial space, establish separate tenancies, or use the building as a live/work property. The roof was replaced in August 2020.
Key Highlights
- 1,008‑square‑foot mixed‑use property built in 1910
- Street‑level commercial space with built‑in commercial kitchen hood and grease trap
- Second‑floor one‑bedroom apartment
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
$13,966
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
5.08%
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%
$279,320
$279.3K
Cap Rate 7%
$199,514
$199.5K
Cap Rate 9%
$155,178
$155.2K
Market Conditions
NOI Build-Up for 1,008 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
$20.0K $19.80/SF
− Vacancy
−$1.3K −$1.33/SF
EGI
$18.6K $18.47/SF
− OpEx
−$4.7K −$4.62/SF
NOI
$14.0K $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 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%
$279,320
Cap Rate 7%
$199,514
Cap Rate 9%
$155,178
Alternative Uses
Best Use
Specialty Retail
$199.5K
$174.6K – $232.8K
NOI $13,966 @ 7.0% cap · market cap 5.08%
Second Best
Mixed Use
$169.7K
$148.5K – $198.0K
NOI $11,881 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$265.9K
$232.7K – $310.3K
NOI $18,616 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
3,355
Businesses Nearby
19k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 71%
Shops & Services 29%
Renaissance Albany Hotel
Hotels & Casinos
6,703 visits/mo
0.4 miles
Sunoco
Shops & Services
5,588 visits/mo
0.4 miles
Hampton Inn & Suites Albany Downtown
Hotels & Casinos
4,856 visits/mo
0.2 miles
Hyatt Place
Hotels & Casinos
2,110 visits/mo
0.2 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
Market
Vacancy Rate% for Retail in Albany, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level commercial space pairs with a one-bedroom apartment and private restroom.
Where is this mixed-use property located?
The property is located at 54 James Street Albany, NY.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: 1,008‑square‑foot mixed‑use property built in 1910; Street‑level commercial space with built‑in commercial kitchen hood and grease trap; Second‑floor one‑bedroom apartment
