Building Details

Building Size 2,320 SF

Year Built 1910

Buildings 1

Stories 2

Listing Agency: Berkshire Hathaway Home Services Blake a***@bhhsblake.com Show Phone

Listed By: Louis Marocco · License #10401376321 Show Phone

Source: Davalarealestate

Added: Jan 3, 2024 Changed: Oct 26 Last Checked: Oct 26 at 3:41AM

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Investment Insights

Based on property information with market context.

This 2,320-square-foot mixed-use property, built in 1910, has a coffee and luncheonette business on the ground floor and a two-bedroom apartment upstairs. The business and its furniture, fixtures, and equipment are included in the sale.

Located at 265 S Pearl Street in Albany, the property is zoned Commercial.

Key Highlights

• 2,320‑square‑foot mixed‑use property
• Ground floor contains a 38‑year‑old coffee and luncheonette business
• Second‑floor apartment has 2 bedrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,144

Cap Rate

9.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$642,880 $642.9K

Cap Rate 7%

$459,200 $459.2K

Cap Rate 9%

$357,156 $357.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,320 SF

Gross rent

$45.9K $19.80/SF

− Vacancy

−$3.1K −$1.33/SF

EGI

$42.9K $18.47/SF

− OpEx

−$10.7K −$4.62/SF

NOI

$32.1K $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%

$642,880

Cap Rate 7%

$459,200

Cap Rate 9%

$357,156

Alternative Uses

Best Use

Specialty Retail

$459.2K

$401.8K – $535.7K (±1% cap)

NOI $32,144 @ 7.0% cap · market cap 9.18%

Second Best

Mixed Use

$390.6K

$341.8K – $455.7K (±1% cap)

NOI $27,344 @ 7.0% cap · market cap 7.81%

Theoretical Best

Office A

$612.1K

$535.6K – $714.1K (±1% cap)

NOI $42,846 @ 7.0% cap · market cap 12.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

South Pearl Coffee ... Restaurant

Suggested Use

Top Pick Skin Care Clinic Carpet & Flooring Store Butcher Pet Grooming Service Home Appliance Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

2,567

Businesses Nearby

11k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 81% Electronics 19%

Dollar General Shops & Services

4,102 visits/mo 0.2 miles

U-Haul Moving & Storage Of Albany Shops & Services

3,480 visits/mo 0.2 miles

Boost Mobile Electronics

2,019 visits/mo 0.3 miles

Family Dollar Shops & Services

1,135 visits/mo 0.4 miles

Demographics for 12202, NY

10,257

Population

5,434

Households

1.9

Avg Household Size

34

Median Age

33%

College-Educated

80%

High-School Grad

2.0 sq mi

ZIP Area

5,129

Density / Sq Mi

$49,684

Median Household Income

$34,656

Median Earnings

$1,012

Median Rent

$139,800

Median Home Value

Market

Vacancy Rate% for Retail in Albany, NY

5.4% 2020

4.8% 2021

5.5% 2022

4.7% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The sale includes the ground-floor coffee business and its furnishings, fixtures, and equipment.

Where is this mixed-use property located?

The property is located at 265 S Pearl Street Albany, NY.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: 2,320‑square‑foot mixed‑use property; Ground floor contains a 38‑year‑old coffee and luncheonette business; Second‑floor apartment has 2 bedrooms