Operating Bar and Tavern with
For Sale
$725,000
Pending
275 Lark Street, Albany, NY 12210
Two-level hospitality property with an outdoor patio, office, full bathroom, and rear parking.
Property Size2,840 SF
Days on Market1040
Property Features for 275 Lark Street
General Information
Standard status
Pending
Size
2,840 SF
Total Parking Spaces
6
Property subtype
Commercial Sale / Mixed Use
Zoning
Commercial
Additional Details
Business Included
Yes
Patio
Yes
Taxes and HOA fees
Annual Taxes
$15,603
Amenities
office
full bathroom
Rubber
Central Air, Yes
Hot Water, Natural Gas, Yes
Full, Heated, Unfinished, Walk-Out Access
Circuit Breakers
Ceramic Tile
Built-in Features
Other, Brick
2,840.00
8.00
Outbuilding
Lighting
Security System Owned, Smoke Detector(s), Fire Alarm
Porch, Pressure Treated Deck, Composite Deck
Building Details
Year Built
1940
Stories
2
Listing Agency:
RE/MAX Solutions
Listed By:
Deanna Rubinger · License #30RU0499649
(518) 428-3093
Source:
Compass
Added: Nov 1, 2023
Changed: Aug 31
Last Checked: Sep 4 at 2:52PM
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 RE/MAX Solutions
Investment Insights
Based on property information with market context.
This operating bar and tavern at 275 Lark Street provides 2,840 square feet across a two-level layout. The first floor offers the primary bar operation, while the second floor includes an open party area, office, and full bathroom. An outdoor patio accommodates 100 seats, and six off-street parking spaces are located behind the building. Central air conditioning, ceramic tile, built-in features, lighting, and an owned security system are included. The property also has smoke detectors and a fire alarm.
The building has street frontage in Albany and is near City and State Capital buildings as well as major city streets. It is open seven days a week and is zoned Commercial. Constructed in 1940, the property also includes a pressure-treated and composite deck area, an outbuilding, and natural-gas hot water.
The building has street frontage in Albany and is near City and State Capital buildings as well as major city streets. It is open seven days a week and is zoned Commercial. Constructed in 1940, the property also includes a pressure-treated and composite deck area, an outbuilding, and natural-gas hot water.
Key Highlights
- Operating bar and tavern at 275 Lark Street, Albany, NY 12210
- 2,840 square feet arranged across two levels
- Outdoor patio with 100‑seat capacity
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
$39,348
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
5.43%
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%
$786,960
$787.0K
Cap Rate 7%
$562,114
$562.1K
Cap Rate 9%
$437,200
$437.2K
Market Conditions
NOI Build-Up for 2,840 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
$56.2K $19.80/SF
− Vacancy
−$3.8K −$1.33/SF
EGI
$52.5K $18.47/SF
− OpEx
−$13.1K −$4.62/SF
NOI
$39.3K $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%
$786,960
Cap Rate 7%
$562,114
Cap Rate 9%
$437,200
Alternative Uses
Best Use
Specialty Retail
$562.1K
$491.9K – $655.8K
NOI $39,348 @ 7.0% cap · market cap 5.43%
Second Best
Mixed Use
$478.2K
$418.4K – $557.9K
NOI $33,473 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$749.3K
$655.6K – $874.2K
NOI $52,449 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4,369
Businesses Nearby
23k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 44%
Dunkin' Donuts
Dining
10,314 visits/mo
0.2 miles
Sunoco
Shops & Services
10,115 visits/mo
0.2 miles
Shogun
Dining
1,548 visits/mo
0.2 miles
Ben & Jerry's
Dining
905 visits/mo
0.2 miles
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
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?
Bar & Pub - Two-level hospitality property with an outdoor patio, office, full bathroom, and rear parking.
Where is this bar & pub located?
The property is located at 275 Lark Street Albany, NY.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Operating bar and tavern at 275 Lark Street, Albany, NY 12210; 2,840 square feet arranged across two levels; Outdoor patio with 100‑seat capacity
