Multi-Building Office
For Sale
$449,000
Pending
255 Lark St, Albany, NY 12210
Well-maintained office property with a main building and detached rear annex plus on-site parking for five vehicles.
Property Size2,824 SF
Days on Market169
Property Features for 255 Lark St
General Information
Standard status
Pending
Size
2,824 SF
Total Parking Spaces
5
Listing Agency:
Berkshire Hathaway Home Services Blake
(518) 858-4719
Listed By:
Karen Zalewski-Wildzunas · License #10301219752
(518) 858-4719
Source:
Exprealty
Added: Feb 13
Changed: Jul 26
Last Checked: Jul 31 at 12:33PM
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 Berkshire Hathaway Home Services Blake
Investment Insights
Based on property information with market context.
This well-maintained office property includes a main building plus a detached rear annex, offering flexible space for professional offices, creative users, or multi-tenant use. An on-site parking area is available for five vehicles, providing convenient access for occupants and visitors.
Located in the heart of Albany’s Lark Street district, the property is surrounded by restaurants, retail, government offices, and residential density, with convenient access to downtown and major routes.
For owner-users or investors, the two-building configuration can support a range of occupancy setups while keeping the overall building footprint centralized on the same site.
Located in the heart of Albany’s Lark Street district, the property is surrounded by restaurants, retail, government offices, and residential density, with convenient access to downtown and major routes.
For owner-users or investors, the two-building configuration can support a range of occupancy setups while keeping the overall building footprint centralized on the same site.
Key Highlights
- Well‑maintained office property in Albany’s Lark Street district
- Includes a main building plus a detached rear annex for flexible office or multi‑tenant use
- On‑site parking for five (5) vehicles
Financial Insights For Office B
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 | $62.7k | $22.20 |
| − Vacancy | −$11.2k | −$3.95 |
| EGI | $51.5k | $18.25 |
| − OpEx | −$12.9k | −$4.56 |
| NOI | $38.7k | $13.69 |
2,824 SF · lease $22.20/SF/yr · vacancy 17.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$552.1K
$483.1K – $644.2K
NOI $38,650 @ 7.0% cap · market cap 8.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$745.1K
$651.9K – $869.2K
NOI $52,154 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,369
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
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Well-maintained office property with a main building and detached rear annex plus on-site parking for five vehicles.
Where is this office building located?
The property is located at 255 Lark St Albany, NY.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Well‑maintained office property in Albany’s Lark Street district; Includes a main building plus a detached rear annex for flexible office or multi‑tenant use; On‑site parking for five (5) vehicles
