Building Details

Year Built 1918

Listing Agency: Miranda Real Estate Group Inc w***@mrgteam.com Show Phone

Listed By: Bo Chen · License #10401313064 Show Phone

Source: Simplywoodardrealestate

Added: Jan 6 Changed: Nov 3 Last Checked: Nov 4 at 8:55AM

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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 Miranda Real Estate Group Inc

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Investment Insights

Based on property information with market context.

This 3,016-square-foot mixed-use property in Albany was built in 1918 and contains a bar and music venue with a full kitchen, including a professional-grade stove and cooktop. The hospitality space includes a 27-foot bar, bar seating, built-in tables, and an approved occupancy of 75. Two apartments occupy the upper level and provide additional income.

The property is located at 335 Central Avenue in Albany, New York.

Key Highlights

• 3,016‑square‑foot mixed‑use property built in 1918
• Bar and music venue with approved occupancy of 75
• 27‑foot bar with bar seating and built‑in tables

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,547

Cap Rate

8.89%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$710,940 $710.9K

Cap Rate 7%

$507,814 $507.8K

Cap Rate 9%

$394,967 $395.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,016 SF

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 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 (±1% cap)

NOI $41,787 @ 7.0% cap · market cap 10.45%

Second Best

Mixed Use

$507.8K

$444.3K – $592.5K (±1% cap)

NOI $35,547 @ 7.0% cap · market cap 8.89%

Theoretical Best

Office A

$795.7K

$696.2K – $928.3K (±1% cap)

NOI $55,699 @ 7.0% cap · market cap 13.93%

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

Blowin' Smoke Restaurant ... Bar & Pub The Low Beat Music Venue

Suggested Use

Top Pick Real Estate Agency Acupuncture (Bike/Boat/Book/etc) Store Furniture & Home Goods Carpet & Flooring Store Home Appliance Store

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

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

1,540

Businesses Nearby

52k

Monthly Visits Nearby

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

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?

Mixed-use property - A full kitchen, seating areas, and two upstairs apartments combine hospitality space with residential units.

Where is this mixed-use property 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 mixed‑use property built in 1918; Bar and music venue with approved occupancy of 75; 27‑foot bar with bar seating and built‑in tables