Loudon Plaza Mixed-Use Property

359 Northern Boulevard, Albany, NY 12204

View on Map

For Sale

$11,999,000

Premier mixed-use retail and office property in Albany, NY.

Type:Retail

Property size:

59,379 SF

Price / SF:

$202/SF

HighLights

Fully renovated (2017‑2020) mixed‑use retail and office property.
100% occupied retail plaza with long‑term tenants providing stable cash flow.
Premier location at the border of Loudonville and Albany, NY, with immediate access to I‑90, I‑787, and I‑87.
Balanced income stream from ±25,817 SF of retail/restaurant/service space and ±33,562 SF of office suites.
Approximately 300 parking spaces available.
Located adjacent to Albany Memorial Hospital and surrounded by dense residential neighborhoods.

We can help!

Listing Contact

Jared Skaarup

For Sale

$11,999,000

Premier mixed-use retail and office property in Albany, NY.

Type:Retail

Property size:

59,379 SF

Price / SF:

$202/SF

Added:: Mar 25, 2026
Days on Market:: 84
Last Refresh:: Mar 16 at 10:21 am

Property Features for 359 Northern Boulevard

General Information

Standard status: Active
Size: 59,379 SF
Property subtype: Retail

We can help!

Listing Contact

Jared Skaarup

Listing agent Jared Skaarup

Listing office

Listing date Mar 25, 2026

Source Cbre

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 Jared Skaarup

HighLights

Fully renovated (2017‑2020) mixed‑use retail and office property.
100% occupied retail plaza with long‑term tenants providing stable cash flow.
Premier location at the border of Loudonville and Albany, NY, with immediate access to I‑90, I‑787, and I‑87.
Balanced income stream from ±25,817 SF of retail/restaurant/service space and ±33,562 SF of office suites.
Approximately 300 parking spaces available.
Located adjacent to Albany Memorial Hospital and surrounded by dense residential neighborhoods.

Overview

Loudon Plaza, located at the border of Loudonville and Albany, NY, is a 59,379-square-foot mixed-use property featuring both retail and office spaces. The property, situated on Northern Boulevard, underwent extensive renovations from 2017 to 2020, resulting in a modern and energy-efficient building. The asset includes approximately 25,817 square feet of retail, restaurant, and personal-service space, complemented by approximately 33,562 square feet of professional office suites. The retail plaza is 100% occupied and anchored by long-term tenants. The location provides immediate access to major transportation arteries, including I-90, I-787, and I-87. It is located adjacent to Albany Memorial Hospital and surrounded by dense residential neighborhoods, upscale retail, and high-quality office developments. Renovations included new retail storefronts and modernized office suites, along with parking lot and sidewalk improvements. There are approximately 300 parking spaces available.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$1.18M	$19.80
− Vacancy	−$78.8k	−$1.33
EGI	$1.10M	$18.47
− OpEx	−$274.2k	−$4.62
NOI	$822.7k	$13.86

59,379 SF · lease $19.80/SF/yr · vacancy 6.70% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$11.75M

$10.28M – $13.71M (±1% cap)

NOI $822,699 @ 7.0% cap · market cap 6.86%

Second Best

Office B

$11.61M

$10.16M – $13.54M (±1% cap)

NOI $812,679 @ 7.0% cap · market cap 6.77%

Theoretical Best

Office A

$15.67M

$13.71M – $18.28M (±1% cap)

NOI $1,096,611 @ 7.0% cap · market cap 9.14%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Cafe Madison Restaurant

Suggested Use

Location Insight

Map
Local Demand

City: Albany
County: Albany
State: New York
Longitude: -73.7493267
Latitude: 42.6755285

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For sale
Mixed-use properties
NY
Albany
12204
359 Northern Boulevard

What type of property is this?

Mixed-use property - Premier mixed-use retail and office property in Albany, NY.

Where is this mixed-use property located?

The property is located at 359 Northern Boulevard Albany, NY.

What is the asking price?

The asking price for this property is $11,999,000.

What are key features of this property?

This property features: Fully renovated (2017‑2020) mixed‑use retail and office property.; 100% occupied retail plaza with long‑term tenants providing stable cash flow.; Premier location at the border of Loudonville and Albany, NY, with immediate access to I‑90, I‑787, and I‑87.