Renovated Mixed-Use Property with
For Sale
$625,000
165 Madison Avenue, Albany, NY 12202
Commercial Sale, Albany, NY
Property Size2,022 SF
Lot Size0.10 Acres
Price / SF$309.10
Days on Market50
Property Features for 165 Madison Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Mixed Use
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bathroom 2
Security features
Security System
Subdivision
Mansion Area
High school district
ALBANY CITY SCHOOL DISTRICT
Directions
787 to Madison Ave Exit. On Madison Between Grand and Phillip St. on the right
Standard status
Active
APN
010100-76.49-2-53
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
11766
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
Full basement
Building Details
Year built
1890
Floors in Building
2
Flooring type
Stone, Tile
Building materials
Wood Siding, Brick
Roof type
Flat
Listing Agency:
HOWARD HANNA CAPITAL INC
(518) 371-4500
Listed By:
Joseph Cardinale · License #10401290174
Added: Sep 11
Changed: Oct 28
Last Checked: Oct 30 at 7:06AM
MLS# 11977707
Copyright © 2026 My State MLS. 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 mixed-use property combines a turnkey restaurant with a two-bedroom apartment on the second floor. The restaurant includes a dining room, employee and customer restrooms, entertainment stages, tables, a full commercial kitchen, a 6-burner stove, and a commercial exhaust hood. Unit 1 provides 2022 SF of commercial space with front and rear entrances. The building also includes a full basement and six private parking spaces at the rear.
The entire building was renovated in 2022 with high-end finishes throughout. Additional physical details include wood siding and brick construction materials, tile and stone flooring, a flat roof, forced-air heating, natural gas service, and public water. Built in 1890, the property occupies 0.1 acres in Albany, NY, near the Capital building and MVP Arena.
The entire building was renovated in 2022 with high-end finishes throughout. Additional physical details include wood siding and brick construction materials, tile and stone flooring, a flat roof, forced-air heating, natural gas service, and public water. Built in 1890, the property occupies 0.1 acres in Albany, NY, near the Capital building and MVP Arena.
Key Highlights
- Turnkey restaurant with dining room, stages, tables, and customer and employee restrooms
- Full commercial kitchen with 6‑burner stove and commercial exhaust hood
- Unit 1 includes 2022 SF of commercial space with front and rear entrances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,015
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,300
$560.3K
Cap Rate 7%
$400,214
$400.2K
Cap Rate 9%
$311,278
$311.3K
Market Conditions
NOI Build-Up for 2,022 SF
Gross rent
$40.0K $19.80/SF
− Vacancy
−$2.7K −$1.33/SF
EGI
$37.4K $18.47/SF
− OpEx
−$9.3K −$4.62/SF
NOI
$28.0K $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%
$560,300
Cap Rate 7%
$400,214
Cap Rate 9%
$311,278
Alternative Uses
Best Use
Specialty Retail
$400.2K
$350.2K – $466.9K
NOI $28,015 @ 7.0% cap · market cap 4.48%
Second Best
Mixed Use
$340.5K
$297.9K – $397.2K
NOI $23,832 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$533.5K
$466.8K – $622.4K
NOI $37,342 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
3,838
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 68%
Shops & Services 20%
Electronics 12%
Renaissance Albany Hotel
Hotels & Casinos
6,703 visits/mo
0.2 miles
Hampton Inn & Suites Albany Downtown
Hotels & Casinos
4,856 visits/mo
0.5 miles
U-Haul Moving & Storage Of Albany
Shops & Services
3,480 visits/mo
0.5 miles
Boost Mobile
Electronics
2,019 visits/mo
0.1 miles
Demographics for 12202, NY
10,257
Population
5,434
Households
1.9
Avg Household Size
34
Median Age
33%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
5,129
Density / Sq Mi
$49,684
Median Household Income
$34,656
Median Earnings
$1,012
Median Rent
$139,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Albany, NY
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with a restaurant, apartment, private parking, commercial kitchen, and entertainment stages.
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 $625,000.
What are key features of this property?
This property features: Turnkey restaurant with dining room, stages, tables, and customer and employee restrooms; Full commercial kitchen with 6‑burner stove and commercial exhaust hood; Unit 1 includes 2022 SF of commercial space with front and rear entrances
