Mixed-Use Property with Eight
151 Henry Johnson Boulevard, Albany, NY 12210
For Sale
$1,300,000
Fully leased mixed-use building with updated residential units and ground-floor commercial space.
Property Size6,337 SF
Lot Size0.29 Acres
Price / SF$205.14
Days on Market163
Property Features for 151 Henry Johnson Boulevard
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Road Access
Building Details
Year Built
Tenancy
Listing Agency:
Carrow Real Estate Services LLC
Listed By:
Kyle J Bradley · License NY #10401359503
(845) 325-1568
Source:
Signatureonerealtygroup
Added: Jun 5
Changed: Nov 12
Last Checked: Nov 12 at 8:20AM
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 Carrow Real Estate Services LLC
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Investment Insights
Based on property information with market context.
This 6,337 SF mixed-use property combines eight one-bedroom apartments with commercial space at street level. The residential units have been recently updated, and the building’s roof was replaced in 2024. Constructed in 1880, the property is zoned MU-CU and is fully leased.
The 0.29-acre parcel occupies a corner at Henry Johnson Blvd and Second Street in Albany. It includes ample parking and may support additional development. The property is near Downtown Albany, hospitals, universities, major employers, state government offices, and area dining and shopping.
The 0.29-acre parcel occupies a corner at Henry Johnson Blvd and Second Street in Albany. It includes ample parking and may support additional development. The property is near Downtown Albany, hospitals, universities, major employers, state government offices, and area dining and shopping.
Key Highlights
- +/- 6,337 SF mixed‑use building with eight 1‑bedroom units and ground‑floor commercial space
- All units are fully leased and recently updated
- Roof replacement completed in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,689
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,493,780
$1.5M
Cap Rate 7%
$1,066,986
$1.1M
Cap Rate 9%
$829,878
$829.9K
Market Conditions
NOI Build-Up for 6,337 SF
Gross rent
$133.1K $21.00/SF
− Vacancy
−$13.6K −$2.14/SF
EGI
$119.5K $18.86/SF
− OpEx
−$44.8K −$7.07/SF
NOI
$74.7K $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%
$1,493,780
Cap Rate 7%
$1,066,986
Cap Rate 9%
$829,878
Alternative Uses
Best Use
Mixed Use
$1.07M
$933.6K – $1.24M
NOI $74,689 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$924.7K
$809.1K – $1.08M
NOI $64,731 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $117,032 @ 7.0% cap · market cap 9.00%
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
8
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,060
Businesses Nearby
Explore this area
Business Placement
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
$217,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Albany, NY
Properties on Market for Mixed-use properties in Albany
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased mixed-use building with updated residential units and ground-floor commercial space.
Where is this mixed-use property located?
The property is located at 151 Henry Johnson Boulevard Albany, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: +/- 6,337 SF mixed‑use building with eight 1‑bedroom units and ground‑floor commercial space; All units are fully leased and recently updated; Roof replacement completed in 2024
