Downtown Albany Mixed-Use
165 Madison Avenue, Albany, NY 12202
- Added:
- Mar 11, 2026
- Days on Market:
- 67
- Last Refresh:
- May 16 at 6:06 pm
Property Features for 165 Madison Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Mixed
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bathroom 2, Bathroom 1
- Parking
- 6
- Parking features
- Off Street
- Basement
- Full
- Standard status
- Active
- APN
- 010100 76.49-2-53
- Size
- 3,272 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5563
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air, Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1890
- Floors in Building
- 2
- Flooring type
- Concrete, Tile
- Building materials
- Brick, Wood Siding
- Roof type
- Flat
Listing agent Joseph P Cardinale License #10401290174 (518) 755-2064
Listing office Howard Hanna Capital Inc 1547 Route 9, Clifton Park, NY (518) 371-4500
Listing date Mar 11, 2026
MLS# 202613128
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.
HighLights
- Fully renovated in 2022 with high‑end finishes, offering a turn‑key restaurant space and a 2‑bedroom apartment.
- Prime downtown Albany location, steps from the New York State Capitol and minutes from MVP Arena.
- Mixed‑use property with immediate income potential from both the restaurant and apartment.
- Restaurant space includes a full commercial kitchen with 6‑burner stove and commercial exhaust hood.
- Second‑floor 2‑bedroom apartment with strong rental potential (estimated $2,000/month).
- Strong future appreciation potential due to major revitalization projects underway in the surrounding area.
Overview
Located in Downtown Albany, this mixed-use property offers a prime investment opportunity. The 3,272 sq ft brick building, renovated in 2022, is situated near the New York State Capitol and MVP Arena. The first floor features a turn-key restaurant space with approximately 2,022 sq ft of retail and dining area. It includes a full commercial kitchen, a 6-burner stove, a commercial exhaust hood, dedicated employee and customer restrooms, a dining area with an entertainment stage, and front and rear entrances. The property is suitable for a restaurant, tavern, cafe, or retail concept. The second floor contains a 2-bedroom apartment with rental potential. Located in a high-demand downtown corridor near the Capitol district, the property is positioned for future appreciation. It is suitable for owner-users, restaurateurs, or mixed-use investors seeking a location with income and growth prospects. The lot size is 0.1 acres.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$503.7K
NOI $45,334 @ 9.00% cap · cautious / downside scenario
Moderate
$647.6K
NOI $45,334 @ 7.00% cap · market / base-case scenario
Aggressive
$906.7K
NOI $45,334 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.8k | $19.80 |
| − Vacancy | −$4.3k | −$1.33 |
| EGI | $60.4k | $18.47 |
| − OpEx | −$15.1k | −$4.62 |
| NOI | $45.3k | $13.86 |
3,272 SF · lease $19.80/SF/yr · vacancy 6.70% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$647.6K
$566.7K – $755.6K
NOI $45,334 @ 7.0% cap · market cap 7.88%
Second Best
Mixed Use
$550.9K
$482.1K – $642.8K
NOI $38,565 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$863.2K
$755.3K – $1.01M
NOI $60,427 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Conventional restaurants
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Albany
- State
- New York
- Longitude
- -73.757212
- Latitude
- 42.646789
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Renovated mixed-use property with restaurant and apartment in Albany.
Where is this mixed-use property located?
The property is located at 165 Madison Avenue Albany, NY.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Fully renovated in 2022 with high‑end finishes, offering a turn‑key restaurant space and a 2‑bedroom apartment.; Prime downtown Albany location, steps from the New York State Capitol and minutes from MVP Arena.; Mixed‑use property with immediate income potential from both the restaurant and apartment.
