Mixed-Use Storefront with
397 Clinton Avenue Albany, NY 12206
397 Clinton Avenue, Albany, NY, 12206
$389,000
For Sale
$389,000
Commercial storefront with office and two upstairs apartments.
Property Size2,640 SF
Lot Size0.07 Acres
Price / SF$147.35
Days on Market144
Property Features for 397 Clinton Avenue
General Information
- Standard status
- Active
- Size
- 2,640 SF
- Lot size
- 0.07 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1873
Listing Agency
GABLER REALTY, LLC
(518) 935-4800
Listed by
THOMAS FERRIGAN
Source
Corcoran
Added: Feb 24 Checked: Jul 17 at 3:37 am
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 GABLER REALTY, LLC
Investment Insights
Based on property information with market context.
This mixed-use property features a commercial storefront with an office area located in the rear. The building also includes two upstairs units, each containing four bedrooms and one bathroom. Recent updates include fresh paint and new flooring. An adjoining lot is available and is negotiable as part of the sale. There is a possibility for a garden floor apartment to be added behind the storefront. The property size is 2640 square feet.
Key Highlights
- Commercial storefront with office space
- Two upstairs units, each with 4 bedrooms and 1 bath
- Updated flooring
Local Financial Insights For Retail
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 | $49.1k | $18.60 |
| − Vacancy | −$3.5k | −$1.34 |
| EGI | $45.6k | $17.26 |
| − OpEx | −$13.7k | −$5.18 |
| NOI | $31.9k | $12.08 |
2,640 SF · lease $18.60/SF/yr · vacancy 7.20% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Cadija African Hair ...
Hair Salon
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Commercial storefront with office and two upstairs apartments.
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: Commercial storefront with office space; Two upstairs units, each with 4 bedrooms and 1 bath; Updated flooring
