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    Mixed-Use Auto Repair Property Title is generated by Realmo AI

    187 Jefferson Street, Albany, NY 12210

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    New
    For Sale
    $449,777

    COMMERCIAL - Albany, NY

    Property size:
    8,906 SF
    Lot size:
    0.21 Acres
    Price / SF:
    $50/SF
    Added:
    Jun 5, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 5 at 3:06 pm

    Property Features for 187 Jefferson Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Mixed
    Bathrooms
    3
    Rooms
    Bathroom 3, Bathroom 2, Bathroom 1
    Parking
    12
    Parking features
    Off Street
    Interior features
    High Speed Internet
    Standard status
    Active
    APN
    010100 76.31-3-27
    Size
    8,906 SF
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Annual Amount
    8000

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air, Oil
    Water source
    Public

    Building Details

    Year built
    1890
    Floors in Building
    2
    Flooring type
    Wood
    Building materials
    Frame, Block, Brick
    Roof type
    Rubber
    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    Douglas S Schenk
    Douglas S Schenk

    Listing agent Douglas S Schenk License #30SC0782781

    Listing office RE/MAX Capital 12 Wade Rd, Latham, NY

    Listing date Jun 5, 2026

    MLS# 202618946

    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

    • Mixed‑use property currently used as an auto repair shop and 3 apartments (apartments need renovation)
    • Garage spaces for 4–6 cars plus off‑street parking for 5–6 cars
    • Property runs street to street between Madison Ave and Jefferson Street
    • Built in 1890 with frame/block/brick construction
    • Utilities: public water and public sewer
    • Heating includes natural gas and oil forced air; high‑speed internet available

    Overview

    This mixed-use property is currently operated as an auto repair shop and includes three apartments that require renovation. The auto shop configuration is supported by garage spaces sized for approximately 4 to 6 cars, along with off-street parking for approximately 5 to 6 cars.

    The property runs street to street between Madison Ave and Jefferson Street in Albany, NY. The listing notes proximity to downtown and Center Square, as well as nearby state offices and SUNY.

    For buyers looking for an owner-operator setup, the combination of an active auto repair use and residential units on site can support a mixed-use business plan. The apartment units are presented as needing renovation, which may align with plans to update and re-position the residential component while maintaining the automotive operation. Zoning is listed as Mixed, providing a framework for both components to be considered within the same property footprint.
    Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Skin Care Clinic Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Like New Auto Body Repair — 42 Catherine St, Albany, NY 12202
    • Jamalaye Auto — 144 Catherine St, Albany, NY 12202
    • Albany Foreign Auto Service — 120 Catherine St, Albany, NY 12202
    • The Online Hobby Guy — 102 Morton Ave, Albany, NY 12202
    • Mimi Auto Towing — 170 Catherine St, Albany, NY 12202

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.766203
    Latitude
    42.651214

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    FAQs

    What type of property is this?
    Auto shop - Auto repair shop plus three residential units with garage and off-street parking in a mixed-use setting.
    Where is this auto shop located?
    The property is located at 187 Jefferson Street Albany, NY.
    What is the asking price?
    The asking price for this property is $449,777.
    What are key features of this property?
    This property features: Mixed‑use property currently used as an auto repair shop and 3 apartments (apartments need renovation); Garage spaces for 4–6 cars plus off‑street parking for 5–6 cars; Property runs street to street between Madison Ave and Jefferson Street
    (518) 221-2949
    We can help!
    Listing Contact
    Douglas S Schenk
    Douglas S Schenk
    Real Estate License ID: 30SC0782781
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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