Mixed-Use Building with
342 Hamilton Street Albany, NY 12210
New
342 Hamilton Street, Albany, NY, 12210
$485,000
For Sale
$485,000
COMMERCIAL - Albany, NY
Property Size3,649 SF
Lot Size0.11 Acres
Price / SF$132.91
Days on Market7
Property Features for 342 Hamilton Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Mixed
- Parking
- 6
- Parking features
- Off Street
- Interior features
- Vaulted Ceiling(s), Wall Paneling, Built-in Features
- Exterior features
- Garden
- Basement
- Full, Unfinished
- 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
- Hot Water(Heating), Natural Gas, Baseboard, Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1847
- Flooring type
- Carpet, Hardwood
- Building materials
- Brick
- Roof type
- Flat, Rubber
Listing agency
Kellie Kieley Realty LLC
(518) 225-0454
Listed by
Mark A Calicchia · License #10401348007
(518) 320-6377
Added: Jul 16 Updated: Jul 21 at 8:38AM Checked: Jul 22 at 4:06AM
MLS# 202622112
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 offering professional office space on the first floor and two residential units on the upper floors. The first floor is currently configured as office space with three private offices, a conference room, and a kitchenette, and features original woodwork. Newer central air serves the office area.
The upper floors include two apartments, each with two bedrooms and one full bath. The second-floor unit is vacant, and the third-floor unit is rented on a month-to-month basis. Separate utilities and panels are in place, and the water service line to the property has been replaced in recent years.
A private parking lot with six spaces supports the building. The property has been owned and maintained by a nonprofit for the past 30 years.
The upper floors include two apartments, each with two bedrooms and one full bath. The second-floor unit is vacant, and the third-floor unit is rented on a month-to-month basis. Separate utilities and panels are in place, and the water service line to the property has been replaced in recent years.
A private parking lot with six spaces supports the building. The property has been owned and maintained by a nonprofit for the past 30 years.
Key Highlights
- Mixed‑use property at 342–346 Hamilton St with first‑floor office space and two residential units above
- Office level features original woodwork and is set up with three private offices, a conference room, and a kitchenette
- Upper floors include two 2‑bedroom, 1‑bath apartments (second‑floor unit vacant; third‑floor unit rented month‑to‑month at $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
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Downtown Albany mixed-use property with professional office space, two apartments, and a six-space private parking lot.
Where is this office units 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 property at 342–346 Hamilton St with first‑floor office space and two residential units above; Office level features original woodwork and is set up with three private offices, a conference room, and a kitchenette; Upper floors include two 2‑bedroom, 1‑bath apartments (second‑floor unit vacant; third‑floor unit rented month‑to‑month at $600/month)
