Ground-Floor Restaurant
263 S Pearl Street #1, Albany, NY 12202
For Sale
Contact for pricing
Pending
The restaurant unit is described as complete and operational.
Property Size2,576 SF
Days on Market1572
Property Features for 263 S Pearl Street #1
General Information
Standard status
Size
Property subtype
Additional Details
Floor
Building Details
Year Built
Listing Agency:
eXp Realty
(888) 276-0630
Listed By:
Wayne Hartard · License NY #10301219674
(631) 708-5249
Source:
Simplywoodardrealestate
Added: Jul 27, 2022
Changed: Nov 13
Last Checked: Nov 13 at 10:06AM
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 eXp Realty
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Investment Insights
Based on property information with market context.
This 2,576-square-foot restaurant unit occupies the first floor at 263 S Pearl Street, Unit 1, in Albany. The space is described as complete and operational. The building was constructed in 1920.
Key Highlights
- 2,576‑square‑foot restaurant unit
- Located on the first floor
- Building constructed in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,691
Suggested Prices Based on Cap Rates
Cap Rate 5%
$713,820
$713.8K
Cap Rate 7%
$509,871
$509.9K
Cap Rate 9%
$396,567
$396.6K
Market Conditions
NOI Build-Up for 2,576 SF
Gross rent
$51.0K $19.80/SF
− Vacancy
−$3.4K −$1.33/SF
EGI
$47.6K $18.47/SF
− OpEx
−$11.9K −$4.62/SF
NOI
$35.7K $13.86/SF
Area
Albany, NY
Vacancy
6.70%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$713,820
Cap Rate 7%
$509,871
Cap Rate 9%
$396,567
Alternative Uses
Best Use
Specialty Retail
$509.9K
$446.1K – $594.9K
NOI $35,691 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$679.6K
$594.7K – $792.9K
NOI $47,574 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,567
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 81%
Electronics 19%
Dollar General
Shops & Services
4,102 visits/mo
0.2 miles
U-Haul Moving & Storage Of Albany
Shops & Services
3,480 visits/mo
0.2 miles
Boost Mobile
Electronics
2,019 visits/mo
0.3 miles
Family Dollar
Shops & Services
1,135 visits/mo
0.4 miles
Demographics for 12202, NY
10,257
Population
5,434
Households
1.9
Avg Household Size
34
Median Age
33%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
5,129
Density / Sq Mi
$49,684
Median Household Income
$34,656
Median Earnings
$1,012
Median Rent
$139,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Conventional restaurants in Albany, NY
Properties on Market for Conventional restaurants in Albany
Vacancy Rate% for Retail in Albany, NY
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The restaurant unit is described as complete and operational.
Where is this conventional restaurant located?
The property is located at 263 S Pearl Street #1 Albany, NY.
What are key features of this property?
This property features: 2,576‑square‑foot restaurant unit; Located on the first floor; Building constructed in 1920
