Mixed-Use Four-Building
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 Market8
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: Aug 3 at 2:06PM
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 comprises four adjoining buildings at 162-170 Jefferson Street, totaling 10,000 square feet on 0.04 acres. The property includes eight apartments, The Palais Royale Bar & Grill, and additional commercial space. The sale includes the bar operation, liquor license, and furniture, fixtures, and equipment. The restaurant area has a full kitchen with halon fire suppression, while the buildings feature wood and tile flooring, stone, block, stucco, and wood siding. Public water and public sewer serve the property, which was built in 1880.
The assemblage sits one block from Empire State Plaza and near state government offices and the NYS Museum. At 168 Jefferson Street, the 1,860-square-foot ground-floor commercial area includes hardwood flooring, a private bar, and high ceilings. That building also contains three apartments, complementing the residential units distributed across the four-building property.
The assemblage sits one block from Empire State Plaza and near state government offices and the NYS Museum. At 168 Jefferson Street, the 1,860-square-foot ground-floor commercial area includes hardwood flooring, a private bar, and high ceilings. That building also contains three apartments, complementing the residential units distributed across the four-building property.
Key Highlights
- Four adjoining buildings at 162‑170 Jefferson Street
- Eight apartments across the assemblage
- The Palais Royale Bar & Grill with liquor license included
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
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
Property Profile
Current Use
Lease Details
8
Residential units
Turnkey business
Opportunity
Yes
Liquor license
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
$217,500
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Albany, NY
Properties on Market for Mixed-use properties in Albany
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four adjoining buildings combine apartments with a bar, licensed liquor operation, and additional commercial space.
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: Four adjoining buildings at 162‑170 Jefferson Street; Eight apartments across the assemblage; The Palais Royale Bar & Grill with liquor license included
