301 Ontario Street, Albany, NY 12208

Building Details

Year Built 1940 More

Listing Agency: GUCCIARDO REAL ESTATE LLC Show Phone

Listed By: PAVEL KARAKALCHU · License NY #10401307281 Show Phone

Source: Corcoran

Added: Sep 19, 2025 Changed: Sep 3 Last Checked: Aug 25 at 3:38AM

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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 GUCCIARDO REAL ESTATE LLC

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This property presents an opportunity to acquire both the real estate and an established business. The corner store and restaurant is located just off Madison Avenue in a busy Albany neighborhood, near Washington Park and the University at Albany. The property includes a full commercial kitchen with proper venting and recent upgrades. The business and real estate offer potential for continued growth. The property is suitable for an owner-operator or an investor. The property size is 840 square feet.

Key Highlights

• Prime location near Madison Avenue, Washington Park, and the University at Albany.
• Includes both the real estate and a well‑established, successful corner store and restaurant business.
• Full commercial kitchen with proper venting.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,638

Cap Rate

4.31%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$232,760 $232.8K

Cap Rate 7%

$166,257 $166.3K

Cap Rate 9%

$129,311 $129.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 840 SF

Gross rent

$16.6K $19.80/SF

− Vacancy

−$1.1K −$1.33/SF

EGI

$15.5K $18.47/SF

− OpEx

−$3.9K −$4.62/SF

NOI

$11.6K $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%

$232,760

Cap Rate 7%

$166,257

Cap Rate 9%

$129,311

Alternative Uses

Best Use

Specialty Retail

$166.3K

$145.5K – $194.0K (±1% cap)

NOI $11,638 @ 7.0% cap · market cap 4.31%

Second Best

Retail

$145.0K

$126.9K – $169.2K (±1% cap)

NOI $10,149 @ 7.0% cap · market cap 3.76%

Theoretical Best

Office A

$221.6K

$193.9K – $258.6K (±1% cap)

NOI $15,513 @ 7.0% cap · market cap 5.75%

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

Halal food Restaurant Elhariri Hot food Restaurant

Suggested Use

Top Pick Real Estate Agency Acupuncture HVAC Service Bakery (Bike/Boat/Book/etc) Store Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,003

Businesses Nearby

17k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Mobil Shops & Services

9,894 visits/mo 0.5 miles

Exxon Shops & Services

7,137 visits/mo 0.5 miles

Demographics for 12208, NY

22,118

Population

11,522

Households

1.9

Avg Household Size

34

Median Age

56%

College-Educated

93%

High-School Grad

4.4 sq mi

ZIP Area

5,027

Density / Sq Mi

$69,505

Median Household Income

$39,268

Median Earnings

$1,291

Median Rent

$255,300

Median Home Value

Market

Average Price Trend$/SF for Conventional restaurants in Albany, NY

$217 Jul

$178 Aug

$164 Sep

$157 Oct

Properties on Market for Conventional restaurants in Albany

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Albany, NY

5.4% 2020

4.8% 2021

5.5% 2022

4.7% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Established corner store and restaurant for sale in Albany.

Where is this conventional restaurant located?

The property is located at 301 Ontario Street Albany, NY.

What is the asking price?

The asking price for this property is $270,000.

What are key features of this property?

This property features: Prime location near Madison Avenue, Washington Park, and the University at Albany.; Includes both the real estate and a well‑established, successful corner store and restaurant business.; Full commercial kitchen with proper venting.