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Versatile Commercial Property For Sale

221 N Allen Street, Albany, NY 12206

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For Sale

$475,000

Adaptable commercial space with flexible layout and ample parking.

Type:Commercial

Property size:

2,990 SF

Lot size:

0.08 Acres

Price / SF:

$158/SF

HighLights

High‑traffic corner location offers excellent visibility and easy access.
Seller financing available.
Versatile property suitable for various commercial uses. Previously operated as a restaurant, banquet hall, and place of worship.
Ample private off‑street parking.
Flexible layout.
Full finished basement.

We can help!

Listing Contact

ALI D KHAN

For Sale

$475,000

Adaptable commercial space with flexible layout and ample parking.

Type:Commercial

Property size:

2,990 SF

Lot size:

0.08 Acres

Price / SF:

$158/SF

Added:: Aug 1, 2025
Days on Market:: 315
Last Refresh:: May 10 at 9:52 pm

Property Features for 221 N Allen Street

General Information

Standard status: Active
Size: 2,990 SF
Lot size: 0.08 Acres
Property subtype: Commercial

We can help!

Listing Contact

ALI D KHAN

Listing agent ALI D KHAN

Listing office THE PEOPLE'S REAL ESTATE GROUP

Listing date Aug 1, 2025

Source Corcoran

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 THE PEOPLE'S REAL ESTATE GROUP

HighLights

High‑traffic corner location offers excellent visibility and easy access.
Seller financing available.
Versatile property suitable for various commercial uses. Previously operated as a restaurant, banquet hall, and place of worship.
Ample private off‑street parking.
Flexible layout.
Full finished basement.

Overview

This versatile 2,990-square-foot property, formerly used as a restaurant, banquet hall, and place of worship, presents various opportunities for commercial use. The property features a flexible layout and a full finished basement. Ample private off-street parking is available. The property is located at the corner of North Allen and Willow Streets, just off Central Avenue, offering high traffic and visibility.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$59.2k	$19.80
− Vacancy	−$4.0k	−$1.33
EGI	$55.2k	$18.47
− OpEx	−$13.8k	−$4.62
NOI	$41.4k	$13.86

2,990 SF · lease $19.80/SF/yr · vacancy 6.70% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$591.8K

$517.8K – $690.5K (±1% cap)

NOI $41,427 @ 7.0% cap · market cap 8.72%

Second Best

Retail

$516.1K

$451.6K – $602.1K (±1% cap)

NOI $36,127 @ 7.0% cap · market cap 7.61%

Theoretical Best

Office A

$788.8K

$690.2K – $920.3K (±1% cap)

NOI $55,219 @ 7.0% cap · market cap 11.63%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Churches & religious facilities

Suggested Use

Similar Places Nearby

Wally's Catering Kitchen — 613 Clinton Ave, Albany, NY 12206
Greek On The Run Food Truck & Catering — Washington Ave, Albany, NY 12201
Puff's Catering — 20 Garfield Pl, Albany, NY 12206

Location Insight

Map
Local Demand

City: Albany
County: Albany
State: New York
Longitude: -73.7988
Latitude: 42.6598

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For sale
Restaurants
NY
Albany
12206
221 N Allen Street

What type of property is this?

Restaurant - Adaptable commercial space with flexible layout and ample parking.

Where is this restaurant located?

The property is located at 221 N Allen Street Albany, NY.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: High‑traffic corner location offers excellent visibility and easy access.; Seller financing available.; Versatile property suitable for various commercial uses. Previously operated as a restaurant, banquet hall, and place of worship.