Apartment Buildings with
For Sale
$2,300,000
162-170 Jefferson Street, Albany, NY 12210
MultiFamily, Albany, NY
Property Size10,000 SF
Lot Size0.04 Acres
Price / SF$230
Days on Market50
Property Features for 162-170 Jefferson Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Commercial
Bedrooms
10
Bathrooms
10
Full bathrooms
8
Half bathrooms
3
Rooms
Bedroom 10, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 6, Bedroom 9, Bedroom 4, Bathroom 9, Bedroom 3, Bathroom 11, Bedroom 1, Bedroom 8, Bathroom 2, Bathroom 6, Bedroom 5, Bathroom 7, Bathroom 8, Bedroom 7, Bedroom 2, Bathroom 10, Bathroom 5
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
Baseboard, Hot Water(Heating), Wood, Natural Gas
Water source
Public
Building Details
Year built
1880
Number of units
8
Flooring type
Tile - Ceramic, Wood
Building materials
Stone, Block, Stucco, Wood Siding
Roof type
Rubber, Built-Up, Flat
Architectural style
Other
Listing Agency:
DiBlasi Real Estate
Listed By:
John S DiBlasi · License #10491211230
(518) 857-1505
Added: Jul 27
Changed: Sep 12
Last Checked: Sep 14 at 10:06AM
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 four-building assemblage at 162-170 Jefferson Street includes 8 apartments, a bar business, and all associated furniture, fixtures, and equipment. The property contains 10,000 square feet on 0.04 acres and dates to 1880. Residential layouts include two 3-bedroom units at 162, a 1-bedroom apartment above the bar at 164, two 2-bedroom apartments at 166, and three apartments at 168. The 168 Jefferson Street building also offers 1,860 square feet of open ground-floor commercial space with hardwood flooring, a private bar, and high ceilings.
The bar includes a full kitchen with halon fire suppression. Commercial zoning is identified for the property, while 168 Jefferson Street is described as mixed-use commercial. Public water and public sewer serve the buildings. The assemblage is located near state government offices, the Empire State Plaza, and the New York State Museum in Albany.
The bar includes a full kitchen with halon fire suppression. Commercial zoning is identified for the property, while 168 Jefferson Street is described as mixed-use commercial. Public water and public sewer serve the buildings. The assemblage is located near state government offices, the Empire State Plaza, and the New York State Museum in Albany.
Key Highlights
- 8 apartments across 4 adjoining buildings
- 10,000 square feet on 0.04 acres
- Bar business included with all FFE
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
$138,551
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
6.02%
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%
$2,771,020
$2.8M
Cap Rate 7%
$1,979,300
$2.0M
Cap Rate 9%
$1,539,456
$1.5M
Market Conditions
NOI Build-Up for 10,000 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
$198.0K $19.80/SF
− Vacancy
−$13.3K −$1.33/SF
EGI
$184.7K $18.47/SF
− OpEx
−$46.2K −$4.62/SF
NOI
$138.6K $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%
$2,771,020
Cap Rate 7%
$1,979,300
Cap Rate 9%
$1,539,456
Alternative Uses
Best Use
Specialty Retail
$1.98M
$1.73M – $2.31M
NOI $138,551 @ 7.0% cap · market cap 6.02%
Second Best
Mixed Use
$1.68M
$1.47M – $1.96M
NOI $117,863 @ 7.0% cap · market cap 5.12%
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
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Current Use
Lease Details
8
Residential units
Turnkey business
Opportunity
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 connected buildings combine apartments with an operating bar, commercial space, kitchen equipment, and public utilities.
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: 8 apartments across 4 adjoining buildings; 10,000 square feet on 0.04 acres; Bar business included with all FFE
