197 Lark Street, Albany, NY 12210
MULTI_FAMILY - Other - Albany, NY
- Added:
- Aug 7, 2025
- Days on Market:
- 309
- Last Refresh:
- Jun 11 at 6:06 am
Property Features for 197 Lark Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Mixed
- Bedrooms
- 5
- Bathrooms
- 5
- Rooms
- Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 5, Bedroom 5, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 1
- Parking
- 2
- Parking features
- Garage
- Window features
- Skylight(s), Display Window(s)
- Basement
- Interior Entry, Full, Unfinished
- Standard status
- Active
- APN
- 65.80-3-24
- Size
- 3,160 SF
- Lot size
- 0.04 Acres
Taxes and HOA fees
- Tax Annual Amount
- 9843
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 agent Amanda Penrose License #10401332555 (518) 760-1050
Listing office Coldwell Banker Prime Properties 433 Loudon Rd, Green Island, NY (518) 427-9000
Listing date Aug 7, 2025
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
- Over 3,100 sq ft mixed‑use building in Albany’s Center Square with street‑level commercial space
- Commercial space rented at $2,200/mo and approved for a variety of uses
- Three residential units above generate $3,350/mo total rent
- Top‑floor unit includes 3 bedrooms, 2 full baths, and in‑unit laundry
- One 1BR unit faces Lark St; another unit offers skyline views with private rooftop access
- Rare 2‑car garage off Spring St, plus public water and public sewer
Overview
Located in Albany’s Center Square neighborhood, the property sits on Lark Street and is described as being steps from local shops, restaurants, and Washington Park. The building’s mixed configuration supports both a street-facing business and income-producing housing above.
For buyers seeking a combined setup, this asset offers an income mix from the street-level rental and the three residential units above. The rooftop access and in-unit laundry in the upper apartments can support day-to-day livability, while the garage and street-level presence offer practical convenience for both tenants and operators depending on how the commercial space is used within the property’s mixed-use zoning.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.8k | $18.60 |
| − Vacancy | −$4.2k | −$1.34 |
| EGI | $54.5k | $17.26 |
| − OpEx | −$16.4k | −$5.18 |
| NOI | $38.2k | $12.08 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Albany
- State
- New York
- Longitude
- -73.764112
- Latitude
- 42.656307
