Six-Unit Mixed-Use
For Sale
$669,900
285 Washington Avenue, Albany, NY 12206
Residential units and street-level commercial space create a flexible mixed-use configuration.
Property Size5,772 SF
Price / SF$116.06
Days on Market58
Property Features for 285 Washington Avenue
General Information
Standard status
Active
Size
5,772 SF
Property subtype
Commercial
Building Details
Year Built
1902
Buildings
1
Tenancy
Multi
Listing Agency:
KW Platform
Listed By:
Benjamin R Romer
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Aug 10
Changed: Oct 6
Last Checked: Oct 5 at 8:41PM
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 KW Platform
Investment Insights
Based on property information with market context.
Constructed in 1902, this 5,772-square-foot mixed-use building contains six apartment units and two commercial spaces at street level. The combination of residential and commercial components creates a diversified property configuration, with existing income-producing use and potential for repositioning, new leasing, or owner-user occupancy.
The property is located in Albany’s Center Square neighborhood at 285 Washington Avenue. Restaurants, bars, shopping, and Washington Park are within walking distance, while downtown Albany is conveniently nearby. The urban setting provides direct access to neighborhood amenities and established city services.
The property is located in Albany’s Center Square neighborhood at 285 Washington Avenue. Restaurants, bars, shopping, and Washington Park are within walking distance, while downtown Albany is conveniently nearby. The urban setting provides direct access to neighborhood amenities and established city services.
Key Highlights
- Six‑unit mixed‑use apartment building
- Two street‑level commercial spaces
- 5,772 square feet of total property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,960
Cap Rate
8.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,179,200
$1.2M
Cap Rate 7%
$842,286
$842.3K
Cap Rate 9%
$655,111
$655.1K
Market Conditions
NOI Build-Up for 5,772 SF
Gross rent
$114.3K $19.80/SF
− Vacancy
−$7.1K −$1.23/SF
EGI
$107.2K $18.57/SF
− OpEx
−$48.2K −$8.36/SF
NOI
$59.0K $10.21/SF
Area
Albany, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,179,200
Cap Rate 7%
$842,286
Cap Rate 9%
$655,111
Alternative Uses
Best Use
Retail
$996.3K
$871.8K – $1.16M
NOI $69,741 @ 7.0% cap · market cap 10.41%
Second Best
Mixed Use
$971.9K
$850.4K – $1.13M
NOI $68,030 @ 7.0% cap · market cap 10.16%
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,597 @ 7.0% cap · market cap 15.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
573
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential units and street-level commercial space create a flexible mixed-use configuration.
Where is this mixed-use property located?
The property is located at 285 Washington Avenue Albany, NY.
What is the asking price?
The asking price for this property is $669,900.
What are key features of this property?
This property features: Six‑unit mixed‑use apartment building; Two street‑level commercial spaces; 5,772 square feet of total property size
