Updated Restaurant
For Sale
Contact for pricing
189 Lark St, Albany, NY 12210
Existing food-service infrastructure and equipment support continued restaurant use with limited remaining improvements.
Property Size3,480 SF
Price / SF$1.21
Days on Market56
Property Features for 189 Lark St
General Information
Standard status
Active
Size
3,480 SF
Property subtype
Commercial
Property Condition
Severity
Repairs Needed
Evidence
The primary remaining improvement is flooring in the front restaurant area.
Restaurant
Commercial Hood
Yes
Equipment Included
Yes
Building Details
Year Built
1880
Listing Agency:
Berkshire Hathaway Home Services Blake
Listed By:
Brian Walters · License #30WA0832219
(518) 526-1800
Source:
Albanyprimeproperties
Added: Aug 26
Changed: Oct 19
Last Checked: Oct 19 at 6:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway Home Services Blake
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Investment Insights
Based on property information with market context.
This approximately 1,160-square-foot restaurant space includes a recently updated food-service buildout with a new hood, walk-in freezer, sinks, restroom, storage area, and restaurant equipment. The front dining area still requires flooring work, while the core infrastructure is already in place for an operator seeking an established setup.
The property is located on Lark Street with access to Washington Park, Downtown Albany, the NYS Capitol and state offices, Albany Medical Center, St. Peter's Hospital, and the surrounding Lark Street neighborhood. The building dates to 1880.
The property is located on Lark Street with access to Washington Park, Downtown Albany, the NYS Capitol and state offices, Albany Medical Center, St. Peter's Hospital, and the surrounding Lark Street neighborhood. The building dates to 1880.
Key Highlights
- Approximately 1,160 SF restaurant space
- New hood and walk‑in freezer
- Sinks, bathroom, and storage area included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,780
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,600
$735.6K
Cap Rate 7%
$525,429
$525.4K
Cap Rate 9%
$408,667
$408.7K
Market Conditions
NOI Build-Up for 3,480 SF
Gross rent
$56.4K $16.20/SF
− Vacancy
−$3.8K −$1.10/SF
EGI
$52.5K $15.10/SF
− OpEx
−$15.8K −$4.53/SF
NOI
$36.8K $10.57/SF
Area
Albany, NY
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,600
Cap Rate 7%
$525,429
Cap Rate 9%
$408,667
Alternative Uses
Best Use
Specialty Retail
$688.8K
$602.7K – $803.6K
NOI $48,216 @ 7.0% cap · market cap 1,148.00%
Second Best
Industrial
$525.4K
$459.8K – $613.0K
NOI $36,780 @ 7.0% cap · market cap 875.71%
Theoretical Best
Office A
$918.1K
$803.4K – $1.07M
NOI $64,269 @ 7.0% cap · market cap 1,530.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
4,402
Businesses Nearby
28k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 45%
Dunkin' Donuts
Dining
10,314 visits/mo
0.3 miles
Sunoco
Shops & Services
10,115 visits/mo
0.4 miles
SEFCU
Shops & Services
4,000 visits/mo
0.4 miles
Shogun
Dining
1,548 visits/mo
0.3 miles
Mavis Discount Tire
Shops & Services
1,434 visits/mo
0.4 miles
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
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?
Conventional restaurant - Existing food-service infrastructure and equipment support continued restaurant use with limited remaining improvements.
Where is this conventional restaurant located?
The property is located at 189 Lark St Albany, NY.
What are key features of this property?
This property features: Approximately 1,160 SF restaurant space; New hood and walk‑in freezer; Sinks, bathroom, and storage area included
