Corner Store and Restaurant
For Sale
$270,000
301 Ontario Street, Albany, NY 12208
Established corner store and restaurant for sale in Albany.
Property Size840 SF
Lot Size0.02 Acres
Price / SF$321.43
Days on Market326
Property Features for 301 Ontario Street
General Information
Standard status
Active
Size
840 SF
Lot size
0.02 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,993
Amenities
Central air
Forced Air Heating
Natural Gas Heating
On Street
Rubber Roof
Wall Unit(s) Cooling
Building Details
Year Built
1940
Listing Agency:
GUCCIARDO REAL ESTATE LLC
(518) 221-9079
Listed By:
PAVEL KARAKALCHU · License #10401307281
Source:
Corcoran
Added: Sep 19, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:15AM
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
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 = 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
$11,638
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
4.31%
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%
$232,760
$232.8K
Cap Rate 7%
$166,257
$166.3K
Cap Rate 9%
$129,311
$129.3K
Market Conditions
NOI Build-Up for 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
$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 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%
$232,760
Cap Rate 7%
$166,257
Cap Rate 9%
$129,311
Alternative Uses
Best Use
Specialty Retail
$166.3K
$145.5K – $194.0K
NOI $11,638 @ 7.0% cap · market cap 4.31%
Second Best
Retail
$145.0K
$126.9K – $169.2K
NOI $10,149 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$221.6K
$193.9K – $258.6K
NOI $15,513 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Vacancy Rate% for Retail in Albany, NY
Questions? Ask Rey
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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.
