Mixed-Use Four-Building
For Sale
$2,300,000
162-170 Jefferson Street, Albany, NY 12210
Commercial Sale, Albany, NY
Property Size10,000 SF
Lot Size0.03 Acres
Price / SF$230
Days on Market95
Property Features for 162-170 Jefferson Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Bathrooms
11
Full bathrooms
11
Rooms
Bathroom 11, Bathroom 8, Bathroom 1, Bathroom 4, Bathroom 9, Bathroom 2, Bathroom 5, Bathroom 6, Bathroom 7, Bathroom 10, Bathroom 3
Parking features
On Street
Patio and Porch features
Patio
Exterior features
Lighting
Basement
Full, Unfinished, Interior Entry
Lot features
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
The Corner of Dove St and Jefferson St from 170 Jefferson East to 162 Jefferson St
Standard status
Active
APN
010100 76.32-5-4
Size
10,000 SF
Lot size
0.03 Acres
Additional Details
Business Included
Yes
Taxes and HOA fees
Tax Annual Amount
22668
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1880
Floors in Building
2
Flooring type
Wood
Building materials
Stucco, Wood Siding
Roof type
Built-Up, Rubber, Flat
Architectural style
Other
Buildings
4
Listing Agency:
DiBlasi Real Estate
Listed By:
John S DiBlasi · License #10491211230
(518) 857-1505
Added: Jul 27
Changed: Oct 27
Last Checked: Oct 29 at 1:06AM
MLS# 202622721
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.
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Investment Insights
Based on property information with market context.
This Albany mixed-use property combines 4 adjoining buildings at 162-170 Jefferson Street with 8 apartments and a bar and restaurant business. The sale includes the Palais Royale Bar & Grill, its business operations, and all furniture, fixtures, and equipment. The restaurant includes a full kitchen with halon fire suppression, while the buildings feature wood flooring, public utilities, natural-gas hot-water heat, wall-unit cooling, and on-street parking.
The 10,000-square-foot assemblage occupies 0.03 acres in downtown Albany, 1 block from Empire State Plaza and near state government offices and the NYS Museum. One building includes 1,860 square feet of ground-floor commercial space with hardwood floors, a private bar, and high ceilings. The property carries Commercial zoning and includes a patio.
The 10,000-square-foot assemblage occupies 0.03 acres in downtown Albany, 1 block from Empire State Plaza and near state government offices and the NYS Museum. One building includes 1,860 square feet of ground-floor commercial space with hardwood floors, a private bar, and high ceilings. The property carries Commercial zoning and includes a patio.
Key Highlights
- 4 adjoining buildings with 8 apartments and a bar and restaurant business
- 10,000 square feet on 0.03 acres at 162‑170 Jefferson Street
- 1,860‑square‑foot ground‑floor commercial space with hardwood floors, private bar, and high ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,551
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Eight apartments accompany a bar and restaurant with included furnishings, fixtures, equipment, and a full kitchen.
Where is this mixed-use property 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: 4 adjoining buildings with 8 apartments and a bar and restaurant business; 10,000 square feet on 0.03 acres at 162‑170 Jefferson Street; 1,860‑square‑foot ground‑floor commercial space with hardwood floors, private bar, and high ceilings
