Mixed-Use Building with
For Sale
Under Contract
$639,900
197 Lark Street, Albany, NY 12210
Commercial Sale, Albany, NY
Property Size4,360 SF
Lot Size0.04 Acres
Price / SF$146.77
Days on Market56
Property Features for 197 Lark Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 2, Bathroom 1, Bathroom 3, Bathroom 5
Parking
2
Parking features
Open, Off Street
Interior features
Walk-In Closet(s)
Basement
Interior Entry, Unfinished, Full
Lot features
Views, Road Frontage
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
4,360 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
9021
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1880
Floors in Building
3
Flooring type
Laminate, Hardwood
Building materials
Brick
Roof type
Rubber
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# 202623729
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 brick mixed-use property combines a street-facing commercial area with three residential apartments above. The commercial space is approved for a variety of uses and includes existing equipment suited to a food-service setup. Residential features include a one-bedroom unit facing Lark Street, a residence with skyline views and private rooftop access, and a top-floor three-bedroom, two-bath unit with in-unit laundry.
A detached-access two-car garage off Spring Street provides space for parking or deliveries. The property has mixed zoning, public water, public sewer, hot-water heating, wall-unit cooling, hardwood and laminate flooring, and a rubber roof. Built in 1880, it is located at 197 Lark Street in Albany’s Center Square neighborhood, near shops, restaurants, and Washington Park.
A detached-access two-car garage off Spring Street provides space for parking or deliveries. The property has mixed zoning, public water, public sewer, hot-water heating, wall-unit cooling, hardwood and laminate flooring, and a rubber roof. Built in 1880, it is located at 197 Lark Street in Albany’s Center Square neighborhood, near shops, restaurants, and Washington Park.
Key Highlights
- Street‑level commercial space with existing food‑service equipment
- Three residential units above the commercial space
- Top‑floor unit includes 3 bedrooms, 2 full baths, and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,680
Cap Rate
8.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,053,600
$1.1M
Cap Rate 7%
$752,571
$752.6K
Cap Rate 9%
$585,333
$585.3K
Market Conditions
NOI Build-Up for 4,360 SF
Gross rent
$81.1K $18.60/SF
− Vacancy
−$5.8K −$1.34/SF
EGI
$75.3K $17.26/SF
− OpEx
−$22.6K −$5.18/SF
NOI
$52.7K $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%
$1,053,600
Cap Rate 7%
$752,571
Cap Rate 9%
$585,333
Alternative Uses
Best Use
Retail
$752.6K
$658.5K – $878.0K
NOI $52,680 @ 7.0% cap · market cap 8.23%
Second Best
Mixed Use
$734.1K
$642.4K – $856.5K
NOI $51,388 @ 7.0% cap · market cap 8.03%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,520 @ 7.0% cap · market cap 12.58%
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 rooftop access.
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: Street‑level commercial space with existing food‑service equipment; Three residential units above the commercial space; Top‑floor unit includes 3 bedrooms, 2 full baths, and in‑unit laundry
