Mixed-Use Storefront
For Sale
$389,000
397 Clinton Avenue, Albany, NY 12206
COMMERCIAL - Other - Albany, NY
Property Size2,640 SF
Lot Size0.07 Acres
Price / SF$147.35
Days on Market173
Property Features for 397 Clinton Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed
Elementary school
Sheridan Preparatory Academy
High school
Albany
Elementary school district
Albany
Middle school district
Albany
High school district
Albany
Directions
Central ave take left onto clinton, house is on the left side.
Standard status
Active
APN
65.64-4-62
Size
2,640 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
10039
Utilities
Sewer type
Public Sewer
Heating system
Oil
Water source
Public
Building Details
Year built
1873
Building materials
Brick, Vinyl Siding, Wood Siding
Architectural style
Other
Listing Agency:
Gabler Realty LLC
(518) 935-4800
Listed By:
Thomas Ferrigan · License #10401233118
(518) 495-3683
Added: Feb 24
Changed: Aug 11
Last Checked: Aug 16 at 12:06AM
MLS# 202612390
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.
This 2,640-square-foot mixed-use property combines a commercial storefront with office space positioned at the rear. The upper level contains two separate units, each configured with four bedrooms and one bathroom. Recent updates include fresh interior paint and new flooring. Built in 1873, the building incorporates brick, vinyl siding, and wood siding construction materials.
The property occupies 0.07 acres at 397 Clinton Avenue in Albany, New York. Public water and public sewer serve the building, while oil provides heating. An adjoining lot is available for negotiation, and the property information identifies potential for a garden-floor apartment behind the storefront.
The property occupies 0.07 acres at 397 Clinton Avenue in Albany, New York. Public water and public sewer serve the building, while oil provides heating. An adjoining lot is available for negotiation, and the property information identifies potential for a garden-floor apartment behind the storefront.
Key Highlights
- 2,640‑square‑foot mixed‑use building at 397 Clinton Avenue
- Commercial storefront with a rear office area
- Two upstairs units, each with 4 bedrooms and 1 bath
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
$31,898
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
8.20%
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%
$637,960
$638.0K
Cap Rate 7%
$455,686
$455.7K
Cap Rate 9%
$354,422
$354.4K
Market Conditions
NOI Build-Up for 2,640 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
$49.1K $18.60/SF
− Vacancy
−$3.5K −$1.34/SF
EGI
$45.6K $17.26/SF
− OpEx
−$13.7K −$5.18/SF
NOI
$31.9K $12.08/SF
Area
Albany, NY
Vacancy
7.20%
Lease Rate
$18.60 /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%
$637,960
Cap Rate 7%
$455,686
Cap Rate 9%
$354,422
Alternative Uses
Best Use
Retail
$455.7K
$398.7K – $531.6K
NOI $31,898 @ 7.0% cap · market cap 8.20%
Second Best
Mixed Use
$444.5K
$389.0K – $518.6K
NOI $31,116 @ 7.0% cap · market cap 8.00%
Theoretical Best
Office A
$696.5K
$609.5K – $812.6K
NOI $48,756 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,081
Businesses Nearby
14k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
8,238 visits/mo
0.2 miles
SEFCU
Shops & Services
4,000 visits/mo
0.1 miles
Mavis Discount Tire
Shops & Services
1,434 visits/mo
0.4 miles
Jackson Hewitt Tax Service
Shops & Services
511 visits/mo
0.5 miles
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 Retail in Albany, NY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Storefront commercial space includes a rear office and two upstairs residential units.
Where is this mixed-use property located?
The property is located at 397 Clinton Avenue Albany, NY.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: 2,640‑square‑foot mixed‑use building at 397 Clinton Avenue; Commercial storefront with a rear office area; Two upstairs units, each with 4 bedrooms and 1 bath
