Bar and Tavern with
For Sale
$725,000
Pending
275 Lark Street, Albany, NY 12210
COMMERCIAL - Albany, NY
Property Size2,840 SF
Lot Size0.14 Acres
Days on Market1025
Property Features for 275 Lark Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
6
Parking features
Off Street, Assigned
Security features
Security System
Patio and Porch features
Porch, Deck
Interior features
Built-in Features
Exterior features
Lighting
Basement
Unfinished, Walk-Out Access, Full
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
East on Madison Avenue to a left on Lark Street
Standard status
Pending
APN
010100 76.23-3-50
Size
2,840 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
15603
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
office
full bathroom
Building Details
Year built
1940
Flooring type
Tile - Ceramic
Building materials
Brick
Roof type
Rubber
Additional Structures
Outbuilding
Listing Agency:
Re Max Solutions · RE/MAX International
(518) 318-3800
Listed By:
Deanna Rubinger · License #30RU0499649
(518) 428-3093
Added: Nov 1, 2023
Changed: Aug 13
Last Checked: Aug 21 at 3:06AM
MLS# 202327528
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.
This long-standing bar and tavern offers prominent street frontage and a practical multi-level setup. The second floor includes an open party area, with an office and a full bathroom. Outside, there is a patio with a stated 100-seat capacity. Off-street parking is available in the rear with six spaces, supporting customer access and day-to-day operations.
The property is positioned in a high foot-traffic area close to the City and State Capital buildings and main city traveled streets. The business is described as open 7 days a week.
Zoned Commercial, the building totals 2,840 square feet on a 0.14-acre lot, providing an established neighborhood bar/tavern format with street visibility, interior gathering space, and outdoor seating.
The property is positioned in a high foot-traffic area close to the City and State Capital buildings and main city traveled streets. The business is described as open 7 days a week.
Zoned Commercial, the building totals 2,840 square feet on a 0.14-acre lot, providing an established neighborhood bar/tavern format with street visibility, interior gathering space, and outdoor seating.
Key Highlights
- Long‑standing Bar & Tavern with prominent street frontage for first‑floor visibility
- 2nd‑floor open party area plus office and full bathroom
- Outside patio with 100‑seat capacity and 6 rear off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,348
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$786,960
$787.0K
Cap Rate 7%
$562,114
$562.1K
Cap Rate 9%
$437,200
$437.2K
Market Conditions
NOI Build-Up for 2,840 SF
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.
Gross rent
$56.2K $19.80/SF
− Vacancy
−$3.8K −$1.33/SF
EGI
$52.5K $18.47/SF
− OpEx
−$13.1K −$4.62/SF
NOI
$39.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$786,960
Cap Rate 7%
$562,114
Cap Rate 9%
$437,200
Alternative Uses
Best Use
Specialty Retail
$562.1K
$491.9K – $655.8K
NOI $39,348 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$749.3K
$655.6K – $874.2K
NOI $52,449 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,369
Businesses Nearby
23k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 44%
Dunkin' Donuts
Dining
10,314 visits/mo
0.2 miles
Sunoco
Shops & Services
10,115 visits/mo
0.2 miles
Shogun
Dining
1,548 visits/mo
0.2 miles
Ben & Jerry's
Dining
905 visits/mo
0.2 miles
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 Retail in Albany, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Long-standing bar and tavern with street frontage, a 100-seat patio, second-floor party area, and six off-street parking spaces.
Where is this bar & pub located?
The property is located at 275 Lark Street Albany, NY.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Long‑standing Bar & Tavern with prominent street frontage for first‑floor visibility; 2nd‑floor open party area plus office and full bathroom; Outside patio with 100‑seat capacity and 6 rear off‑street parking spaces
