Mixed-Use Building with
For Sale
Under Contract
$639,900
197 Lark Street, Albany, NY 12210
MultiFamily, Albany, NY
Property Size3,160 SF
Lot Size0.04 Acres
Price / SF$202.50
Days on Market56
Property Features for 197 Lark Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Mixed
Bedrooms
5
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 2, Bathroom 5, Bathroom 1, Bathroom 3, Bedroom 4, Bathroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 5
Parking
2
Parking features
Garage
Window features
Display Window(s), Skylight(s)
Basement
Unfinished, Interior Entry, Full
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
From 787 North or South, take Exit 3A/Empire State Plaza. Right onto S Swan, Left onto Washington. Left on Lark. Property is on the corner of Lark and Spring between The Larkin and NoHo Pizza.
Standard status
Active Under Contract
APN
010100 65.80-3-24
Size
3,160 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
9021
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1880
Number of units
4
Flooring type
Wood, Laminate
Building materials
Brick
Roof type
Rubber
Architectural style
Other
Listing Agency:
Coldwell Banker Prime Properties · Coldwell Banker Real Estate
(518) 427-9000
Listed By:
Amanda Penrose · License #10401332555
(518) 760-1050
Added: Aug 11
Changed: Sep 12
Last Checked: Oct 5 at 12:06PM
MLS# 202623726
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 property at 197 Lark Street combines 3,160 square feet of commercial and residential space on a 0.04-acre lot. The brick building, constructed in 1880, includes a street-facing commercial area with existing equipment that can support food service uses, along with three residential units above. Residential features include a one-bedroom unit facing Lark Street, a unit with skyline views and private rooftop access, and a top-floor three-bedroom, two-bath residence with in-unit laundry.
A two-car garage provides on-site parking and delivery access from Spring Street. The property is located in Albany’s Center Square neighborhood, near shops, restaurants, and Washington Park. Additional physical features include wood and laminate flooring, hot water heating, a rubber roof, public water, and public sewer.
A two-car garage provides on-site parking and delivery access from Spring Street. The property is located in Albany’s Center Square neighborhood, near shops, restaurants, and Washington Park. Additional physical features include wood and laminate flooring, hot water heating, a rubber roof, public water, and public sewer.
Key Highlights
- 3,160‑square‑foot mixed‑use building on a 0.04‑acre lot
- Three residential units above a street‑level commercial space
- Top‑floor unit includes 3 bedrooms, 2 full baths, and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,181
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$763,620
$763.6K
Cap Rate 7%
$545,443
$545.4K
Cap Rate 9%
$424,233
$424.2K
Market Conditions
NOI Build-Up for 3,160 SF
Gross rent
$58.8K $18.60/SF
− Vacancy
−$4.2K −$1.34/SF
EGI
$54.5K $17.26/SF
− OpEx
−$16.4K −$5.18/SF
NOI
$38.2K $12.08/SF
Area
Albany, NY
Vacancy
7.20%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$763,620
Cap Rate 7%
$545,443
Cap Rate 9%
$424,233
Alternative Uses
Best Use
Retail
$545.4K
$477.3K – $636.4K
NOI $38,181 @ 7.0% cap · market cap 5.97%
Second Best
Mixed Use
$532.1K
$465.6K – $620.8K
NOI $37,245 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$833.7K
$729.5K – $972.7K
NOI $58,359 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,402
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level commercial space is paired with three residential units and a two-car garage.
Where is this mixed-use property located?
The property is located at 197 Lark Street Albany, NY.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: 3,160‑square‑foot mixed‑use building on a 0.04‑acre lot; Three residential units above a street‑level commercial space; Top‑floor unit includes 3 bedrooms, 2 full baths, and in‑unit laundry
