Mixed-Use Multifamily with
New
For Sale
$2,300,000
162-170 Jefferson Street, Albany, NY 12210
MULTI_FAMILY - Other - Albany, NY
Property Size10,000 SF
Lot Size0.04 Acres
Price / SF$230
Days on Market5
Property Features for 162-170 Jefferson Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Commercial
Bedrooms
3
Bathrooms
10
Full bathrooms
8
Half bathrooms
3
Rooms
Bathroom 6, Bathroom 2, Bathroom 1, Bathroom 7, Bathroom 9, Bathroom 11, Bathroom 8, Bedroom 1, Bathroom 4, Bathroom 5, Bedroom 2, Bathroom 10, Bathroom 3, Bedroom 3
Window features
Wood Frames
Interior features
Paddle Fan, Wet Bar, Ceramic Tile Bath
Fireplace
1
Basement
Unfinished, Full
Lot features
Level, Road Frontage, Corner Lot
Elementary school
Thomas S. O'Brien Academy
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Corner of Dove and Jefferson Street
Standard status
Active
APN
010100 76.32-5-4
Size
10,000 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
22688
Utilities
Sewer type
Public Sewer
Heating system
Wood, Baseboard, Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1880
Number of units
8
Flooring type
Wood, Tile - Ceramic
Building materials
Stone, Block, Stucco, Wood Siding
Roof type
Built-Up, Flat, Rubber
Architectural style
Other
Listing Agency:
DiBlasi Real Estate
(518) 857-1505
Listed By:
John S DiBlasi · License #10491211230
(518) 857-1505
Added: Jul 27
Changed: Jul 28
Last Checked: Jul 31 at 2:06AM
MLS# 202622723
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use assemblage consists of four adjoining buildings at 162–170 Jefferson Street, totaling eight apartments plus the Palais Royale Bar & Grill. The offering includes the bar, liquor license, and all furniture, fixtures, and equipment. Unit mix across the buildings includes 162 with two 4-bedroom units, 164 with the bar and a 1-bedroom apartment above, and 166 with two 2-bedroom units. Building 168 includes three apartments (two upstairs with 3 bedrooms total) and a prominent ground-floor commercial space that is currently used as the owner’s residence.
The ground-floor commercial space at 168 is described as 1,860 square feet with hardwood floors, a private bar, and high ceilings, and the building is noted as zoned mixed use commercial. Full kitchen with halon fire suppression is also referenced in the materials.
The property is presented as a downtown Albany opportunity one block from Empire State Plaza, steps from state government offices and the NYS Museum, and includes a long-standing neighborhood business.
The ground-floor commercial space at 168 is described as 1,860 square feet with hardwood floors, a private bar, and high ceilings, and the building is noted as zoned mixed use commercial. Full kitchen with halon fire suppression is also referenced in the materials.
The property is presented as a downtown Albany opportunity one block from Empire State Plaza, steps from state government offices and the NYS Museum, and includes a long-standing neighborhood business.
Key Highlights
- Four adjoining buildings at 162–170 Jefferson St: 8 apartments plus The Palais Royale Bar & Grill
- Sale includes the bar, liquor license, and all furniture, fixtures, and equipment (FFE)
- Building 168 includes 1,860 SF ground‑floor commercial space (owner’s residence) with hardwoods, private bar, and high ceilings
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $198.0k | $19.80 |
| − Vacancy | −$13.3k | −$1.33 |
| EGI | $184.7k | $18.47 |
| − OpEx | −$46.2k | −$4.62 |
| NOI | $138.6k | $13.86 |
10,000 SF · lease $19.80/SF/yr · vacancy 6.70% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.98M
$1.73M – $2.31M
NOI $138,551 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$1.46M
$1.28M – $1.70M
NOI $102,148 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$2.64M
$2.31M – $3.08M
NOI $184,680 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,105
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Four adjoining buildings combine apartments with the Palais Royale Bar & Grill and included liquor license and furnishings.
Where is this apartment building located?
The property is located at 162-170 Jefferson Street Albany, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Four adjoining buildings at 162–170 Jefferson St: 8 apartments plus The Palais Royale Bar & Grill; Sale includes the bar, liquor license, and all furniture, fixtures, and equipment (FFE); Building 168 includes 1,860 SF ground‑floor commercial space (owner’s residence) with hardwoods, private bar, and high ceilings
