Mixed-Use Office and Two-Unit
342 Hamilton Street Albany, NY 12210
New
342 Hamilton Street, Albany, NY, 12210
$485,000
For Sale
$485,000
MULTI_FAMILY - Albany, NY
Property Size3,649 SF
Lot Size0.11 Acres
Price / SF$132.91
Days on Market3
Property Features for 342 Hamilton Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 3
- Parking
- 6
- Parking features
- Off Street, Driveway
- Interior features
- Wall Paneling, Vaulted Ceiling(s), Built-in Features
- Exterior features
- Garden
- Basement
- Unfinished, Full
- Standard status
- Active
- APN
- 010100 76.32-3-2
- Size
- 3,649 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Annual Amount
- 3462
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas, Hot Water(Heating), Baseboard
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1847
- Number of units
- 3
- Flooring type
- Hardwood, Carpet
- Building materials
- Brick
- Roof type
- Rubber, Flat
Listing Agency
Kellie Kieley Realty LLC
(518) 225-0454
1525 Western Ave, Ste. 2A, Albany, NY
Listed by
Mark A Calicchia · License #10401348007
(518) 320-6377
Added: Jul 16 Checked: Jul 18 at 2:06 am
MLS# 202622063
Listing URL
Copyright © 2026 Global MLS, Inc. 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.
342-346 Hamilton Street is a mixed-use property combining professional office space with two residential apartments above. The first floor is currently configured as office space with three private offices, a conference room, and a kitchenette, featuring original woodwork. Newer central air serves the office area.
The upper floors include a two-bedroom, one-bath apartment on both the second and third floors; the second-floor unit is vacant and the third-floor unit is rented on a month-to-month basis at $600 per month. The property includes separate utilities and panels, and the water service line has been replaced in recent years.
A private parking lot with six spaces supports the property’s day-to-day operations. The parking area is associated with 346 Hamilton Street, while the building at 342 Hamilton Street contains the office and residential space.
The upper floors include a two-bedroom, one-bath apartment on both the second and third floors; the second-floor unit is vacant and the third-floor unit is rented on a month-to-month basis at $600 per month. The property includes separate utilities and panels, and the water service line has been replaced in recent years.
A private parking lot with six spaces supports the property’s day-to-day operations. The parking area is associated with 346 Hamilton Street, while the building at 342 Hamilton Street contains the office and residential space.
Key Highlights
- Mixed‑use building with first‑floor professional office space plus two 2‑bedroom residential units
- Private parking lot with 6 off‑street spaces (342 Hamilton St building; 346 Hamilton St parking lot)
- Upper floors include a vacant 2BR unit and a 2BR unit rented month‑to‑month for $600/month
Local Financial Insights For Multifamily LT 5
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 | $63.5k | $17.40 |
| − Vacancy | −$4.1k | −$1.13 |
| EGI | $59.4k | $16.27 |
| − OpEx | −$17.8k | −$4.88 |
| NOI | $41.6k | $11.39 |
3,649 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$713.4K
$624.3K – $832.4K
NOI $49,941 @ 7.0% cap · market cap 10.30%
Second Best
Multifamily LT 5
$593.7K
$519.5K – $692.6K
NOI $41,556 @ 7.0% cap · market cap 8.57%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Downtown Albany mixed-use property includes ground-floor professional offices, plus two residential units and a six-space private parking lot.
Where is this triplex 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 building with first‑floor professional office space plus two 2‑bedroom residential units; Private parking lot with 6 off‑street spaces (342 Hamilton St building; 346 Hamilton St parking lot); Upper floors include a vacant 2BR unit and a 2BR unit rented month‑to‑month for $600/month
