Bar & Music Venue with
For Sale
$399,900
335 Central Avenue, Albany, NY 12206
The building includes a professional kitchen, bar seating, built-in tables, and residential space on the upper level.
Property Size3,016 SF
Price / SF$132.59
Days on Market38
Property Features for 335 Central Avenue
General Information
Standard status
Active
Size
3,016 SF
Zoning
Mixed
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,755
Building Details
Year Built
1918
Buildings
1
Listing Agency:
Miranda Real Estate Group Inc
(518) 244-0189
Listed By:
Bo Chen
(518) 244-0189
Source:
Capmarkrealty
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 29 at 2:55PM
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 Miranda Real Estate Group Inc
Investment Insights
Based on property information with market context.
This 3,016-square-foot bar and music venue was built in 1918 and includes a full kitchen equipped with a professional-grade stove and cooktop. The main level features a 27-foot bar, bar seating, and built-in tables, with approved occupancy for 75 people.
Two apartments are positioned above the commercial space, creating a mixed-use configuration with additional income from the residential component. The property is located at 335 Central Avenue in Albany, New York, and carries Mixed zoning.
Two apartments are positioned above the commercial space, creating a mixed-use configuration with additional income from the residential component. The property is located at 335 Central Avenue in Albany, New York, and carries Mixed zoning.
Key Highlights
- 3,016‑square‑foot bar and music venue
- 27‑foot bar with bar seating and built‑in tables
- Full kitchen with professional‑grade stove and cooktop
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
$35,547
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
8.89%
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%
$710,940
$710.9K
Cap Rate 7%
$507,814
$507.8K
Cap Rate 9%
$394,967
$395.0K
Market Conditions
NOI Build-Up for 3,016 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
$63.3K $21.00/SF
− Vacancy
−$6.5K −$2.14/SF
EGI
$56.9K $18.86/SF
− OpEx
−$21.3K −$7.07/SF
NOI
$35.5K $11.79/SF
Area
Albany, NY
Vacancy
10.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
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%
$710,940
Cap Rate 7%
$507,814
Cap Rate 9%
$394,967
Alternative Uses
Best Use
Specialty Retail
$597.0K
$522.3K – $696.5K
NOI $41,787 @ 7.0% cap · market cap 10.45%
Second Best
Mixed Use
$507.8K
$444.3K – $592.5K
NOI $35,547 @ 7.0% cap · market cap 8.89%
Theoretical Best
Office A
$795.7K
$696.2K – $928.3K
NOI $55,699 @ 7.0% cap · market cap 13.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,540
Businesses Nearby
52k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Shops & Services 43%
McDonald's
Dining
17,748 visits/mo
0.1 miles
Burger King
Dining
11,928 visits/mo
0.3 miles
Exxon
Shops & Services
7,137 visits/mo
0.3 miles
Family Dollar
Shops & Services
6,766 visits/mo
0.4 miles
Sunoco
Shops & Services
5,929 visits/mo
0.0 miles
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
Market
Vacancy Rate% for Retail in Albany, NY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Bar & Pub - The building includes a professional kitchen, bar seating, built-in tables, and residential space on the upper level.
Where is this bar & pub located?
The property is located at 335 Central Avenue Albany, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 3,016‑square‑foot bar and music venue; 27‑foot bar with bar seating and built‑in tables; Full kitchen with professional‑grade stove and cooktop
