Mixed-Use Building With
For Sale
$649,900
197 Lark Street, Albany, NY 12210
COMMERCIAL - Albany, NY
Property Size4,360 SF
Lot Size0.04 Acres
Price / SF$149.06
Days on Market359
Property Features for 197 Lark Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 5, Bathroom 4, Bathroom 3, Bathroom 2, Bathroom 1
Parking
2
Parking features
Open, Off Street
Interior features
Walk-In Closet(s)
Basement
Interior Entry, Full, Unfinished
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
APN
65.80-3-24
Size
4,360 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
9844
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
Hardwood, Laminate
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 7, 2025
Changed: Jul 24
Last Checked: Jul 31 at 2:06AM
MLS# 202523508
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.
Mixed-use building for sale at 197 Lark Street, featuring street-level commercial space currently leased and approved for a variety of uses, along with three residential units above. The building includes existing equipment that can support food service operations, and the residential layout provides distinct configurations across the upper floors.
One unit is a 1BR facing Lark St. Another offers skyline views and private rooftop access. The top-floor unit features 3 bedrooms, 2 full baths, and in-unit laundry. A rare 2-car garage off Spring St supports parking or deliveries.
The listing reports total residential income of $3,350 per month and street-level commercial rent of $2,200 per month, for gross annual income of $66,600.
One unit is a 1BR facing Lark St. Another offers skyline views and private rooftop access. The top-floor unit features 3 bedrooms, 2 full baths, and in-unit laundry. A rare 2-car garage off Spring St supports parking or deliveries.
The listing reports total residential income of $3,350 per month and street-level commercial rent of $2,200 per month, for gross annual income of $66,600.
Key Highlights
- Mixed‑use building with 3 residential units above a street‑level commercial space
- Over 3,100 sq ft total; commercial space currently rented for $2,200/mo
- Residential units generate $3,350/mo total income
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 | $81.1k | $18.60 |
| − Vacancy | −$5.8k | −$1.34 |
| EGI | $75.3k | $17.26 |
| − OpEx | −$22.6k | −$5.18 |
| NOI | $52.7k | $12.08 |
4,360 SF · lease $18.60/SF/yr · vacancy 7.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$752.6K
$658.5K – $878.0K
NOI $52,680 @ 7.0% cap · market cap 8.11%
Second Best
Mixed Use
$734.1K
$642.4K – $856.5K
NOI $51,388 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,520 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
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
$217,500
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Albany, NY
Properties on Market for Mixed-use properties in Albany
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level retail is leased, with three residential units above, including rooftop access and in-unit laundry.
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 $649,900.
What are key features of this property?
This property features: Mixed‑use building with 3 residential units above a street‑level commercial space; Over 3,100 sq ft total; commercial space currently rented for $2,200/mo; Residential units generate $3,350/mo total income
