Bar and Music
For Sale
$399,900
335 Central Avenue, Albany, NY 12206
COMMERCIAL - Albany, NY
Property Size3,016 SF
Lot Size0.04 Acres
Price / SF$132.59
Days on Market226
Property Features for 335 Central Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
High school district
000000
Directions
Central Ave to Quail St.
Standard status
Active
Size
3,016 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6755
Utilities
Heating system
Baseboard, Electric (Heating), Natural Gas
Water source
Public
Amenities
full kitchen
bar
built-in tables
Building Details
Year built
1918
Flooring type
Vinyl
Building materials
Brick
Roof type
Rubber
Listing Agency:
Miranda Real Estate Group Inc
(518) 348-2060
Listed By:
Bo Chen
(518) 348-2060
Added: Jan 6
Changed: Aug 12
Last Checked: Aug 20 at 12:06PM
MLS# 11626690
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This established bar and music venue offers a full kitchen with a professional-grade stove and cooktop. The space includes a 27-foot bar with bar seating and built-in tables, with an approved occupancy of 75. Additional income is generated from two apartments above the bar.
The building is located at 335 Central Avenue in Albany, New York (12206). Constructed of brick and built in 1918, the property totals 3,016 square feet and features vinyl flooring. Heating is provided by baseboard, electric, and natural gas systems, and water service is public. The roof is rubber.
The layout combines a dedicated hospitality/music area with upstairs residential units, creating a mixed-use setup designed for both day-to-day operations and supplemental rental income.
The building is located at 335 Central Avenue in Albany, New York (12206). Constructed of brick and built in 1918, the property totals 3,016 square feet and features vinyl flooring. Heating is provided by baseboard, electric, and natural gas systems, and water service is public. The roof is rubber.
The layout combines a dedicated hospitality/music area with upstairs residential units, creating a mixed-use setup designed for both day-to-day operations and supplemental rental income.
Key Highlights
- 27‑foot bar with bar seating plus built‑in tables, with approved occupancy of 75
- Full kitchen with professional‑grade stove and cooktop
- Two apartments above the bar providing additional income
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
$34,347
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
8.59%
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%
$686,940
$686.9K
Cap Rate 7%
$490,671
$490.7K
Cap Rate 9%
$381,633
$381.6K
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
$52.5K $17.40/SF
− Vacancy
−$3.4K −$1.13/SF
EGI
$49.1K $16.27/SF
− OpEx
−$14.7K −$4.88/SF
NOI
$34.3K $11.39/SF
Area
Albany, NY
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$686,940
Cap Rate 7%
$490,671
Cap Rate 9%
$381,633
Alternative Uses
Best Use
Specialty Retail
$597.0K
$522.3K – $696.5K
NOI $41,787 @ 7.0% cap · market cap 10.45%
Second Best
Multifamily LT 5
$490.7K
$429.3K – $572.5K
NOI $34,347 @ 7.0% cap · market cap 8.59%
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
Location Intelligence
Trade Area within ½ mile
1,540
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Brick bar and music venue with a full kitchen and two apartments above the space.
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: 27‑foot bar with bar seating plus built‑in tables, with approved occupancy of 75; Full kitchen with professional‑grade stove and cooktop; Two apartments above the bar providing additional income
