Iconic Albany Pub For
For Sale
$1,700,000
4 Clinton Square, Albany, NY
Albany's McGeary's Irish Pub: Building, business, and real estate.
Property Size5,437 SF
Price / SF$312.67
Days on Market321
Property Features for 4 Clinton Square
General Information
Standard status
Active
Size
5,437 SF
Property subtype
Mixed Use
Building Details
Building Size
5,437 SF
Listing Agency:
Pyramidbrokerage
(518) 489-9199
Listed By:
Pyramid Brokerage Albany
(518) 489-9199
Source:
Pyramidbrokerage
Added: Sep 25, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:01PM
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 Pyramidbrokerage
Investment Insights
Based on property information with market context.
This property presents an opportunity to acquire both a building and a business. McGeary's Irish Pub, an Albany icon for nearly 50 years, is available for new ownership. Situated in the heart of the downtown entertainment district, it is near The Palace Theatre, Empire Live, Capital Rep, Albany Convention Center, The Clinton Market Collective, and the MVP Arena. This restaurant and pub has been a gathering place for politicians, state and city officials, sports fans, concert-goers, first responders, and locals. The property offers 5437 square feet of space, a 75-seat private party room, a dining room with over 100 seats, and an outdoor patio with over 80 seats. It features year-round local live music and entertainment. The property also includes second and third-floor office space plus two apartments for added income.
Key Highlights
- Iconic and established Irish Pub business and building for sale in downtown Albany.
- Prime location in the heart of the entertainment district, near key venues and attractions.
- High‑capacity venue with a 100+ seat dining room, 75‑seat private party room, and 80+ seat outdoor patio.
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
$75,330
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
4.43%
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%
$1,506,600
$1.5M
Cap Rate 7%
$1,076,143
$1.1M
Cap Rate 9%
$837,000
$837.0K
Market Conditions
NOI Build-Up for 5,437 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
$107.7K $19.80/SF
− Vacancy
−$7.2K −$1.33/SF
EGI
$100.4K $18.47/SF
− OpEx
−$25.1K −$4.62/SF
NOI
$75.3K $13.86/SF
Area
Albany, NY
Vacancy
6.70%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
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%
$1,506,600
Cap Rate 7%
$1,076,143
Cap Rate 9%
$837,000
Alternative Uses
Best Use
Specialty Retail
$1.08M
$941.6K – $1.26M
NOI $75,330 @ 7.0% cap · market cap 4.43%
Second Best
Retail
$938.5K
$821.2K – $1.09M
NOI $65,693 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$1.43M
$1.26M – $1.67M
NOI $100,411 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,409
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Pub - Albany's McGeary's Irish Pub: Building, business, and real estate.
Where is this pub located?
The property is located at 4 Clinton Square Albany, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Iconic and established Irish Pub business and building for sale in downtown Albany.; Prime location in the heart of the entertainment district, near key venues and attractions.; High‑capacity venue with a 100+ seat dining room, 75‑seat private party room, and 80+ seat outdoor patio.
