Mixed-Use Office and
For Sale
$485,000
342 Hamilton Street, Albany, NY 12210
Downtown Albany mixed-use building with professional office space, two apartments, and a six-space private parking lot.
Property Size3,649 SF
Price / SF$132.91
Days on Market21
Property Features for 342 Hamilton Street
General Information
Standard status
Active
Size
3,649 SF
Total Parking Spaces
6
Property subtype
Multi-family
Units
Multifamily Units
2
Office Units
1
Amenities
private parking lot
conference room
kitchenette
central air
Building Details
Year Built
1847
Tenancy
Multi
Listing Agency:
Kellie Kieley Realty LLC
Listed By:
Mark A Calicchia
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jul 11
Changed: Jul 28
Last Checked: Jul 30 at 4:54PM
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 Kellie Kieley Realty LLC
Investment Insights
Based on property information with market context.
342-346 Hamilton Street is a mixed-use property that combines professional office space with two residential apartments. The first floor is configured as office space with three private offices, a conference room, and a kitchenette, and includes central air service. The upper floors contain two two-bedroom, one-bath apartments, with one unit currently vacant and the other rented on a month-to-month basis.
The property includes a private parking lot with six spaces, identified as 346 Hamilton Street, while the building is 342 Hamilton Street. Separate utilities and panels are in place for the residential and office areas. The water service line to the property was replaced in recent years.
Internally, the office level features original woodwork and is positioned for an owner-user as well as a potential reconfiguration into additional rental space, subject to buyer planning and permitting requirements.
The property includes a private parking lot with six spaces, identified as 346 Hamilton Street, while the building is 342 Hamilton Street. Separate utilities and panels are in place for the residential and office areas. The water service line to the property was replaced in recent years.
Internally, the office level features original woodwork and is positioned for an owner-user as well as a potential reconfiguration into additional rental space, subject to buyer planning and permitting requirements.
Key Highlights
- Mixed‑use downtown Albany building built in 1847 with professional office space, two apartments, and a 6‑space private parking lot
- First floor configured as professional office with 3 private offices, conference room, and kitchenette plus newer central air
- Second and third floors include two 2‑bedroom, 1‑bath residential units; one is vacant and the other is rented month‑to‑month
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $76.6k | $21.00 |
| − Vacancy | −$7.8k | −$2.14 |
| EGI | $68.8k | $18.86 |
| − OpEx | −$25.8k | −$7.07 |
| NOI | $43.0k | $11.79 |
3,649 SF · lease $21.00/SF/yr · vacancy 10.20% · expense 37.50%
Alternative Uses
Best Use
Office B
$713.4K
$624.3K – $832.4K
NOI $49,941 @ 7.0% cap · market cap 10.30%
Second Best
Mixed Use
$614.4K
$537.6K – $716.8K
NOI $43,008 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$962.7K
$842.4K – $1.12M
NOI $67,390 @ 7.0% cap · market cap 13.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,281
Businesses Nearby
Explore this area
Business Placement
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Downtown Albany mixed-use building with professional office space, two apartments, and a six-space private parking lot.
Where is this duplex located?
The property is located at 342 Hamilton Street Albany, NY.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Mixed‑use downtown Albany building built in 1847 with professional office space, two apartments, and a 6‑space private parking lot; First floor configured as professional office with 3 private offices, conference room, and kitchenette plus newer central air; Second and third floors include two 2‑bedroom, 1‑bath residential units; one is vacant and the other is rented month‑to‑month
