Mixed-Use Building with Kitchen
For Sale
Contact for pricing
418 Madison Avenue, Albany, NY 12210
Versatile first-floor commercial space with central air and kitchen setup, plus two upper-floor one-bedroom apartments.
Property Size3,300 SF
Price / SF$136.33
Days on Market88
Property Features for 418 Madison Avenue
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Building Details
Stories
3
Listing Agency:
Coldwell Banker Prime Properties
(518) 331-6443
Listed By:
Carol Landau · License #NY 30LA1007361
Source:
Crexi
Added: May 28
Changed: Jul 10
Last Checked: Aug 21 at 8:21PM
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 Coldwell Banker Prime Properties
Investment Insights
Based on property information with market context.
This mixed-use property offers a versatile first-floor commercial space with central air and an established commercial kitchen setup. The building also includes two bright, well-appointed one-bedroom apartments on the second and third floors, providing an owner with both commercial and residential income potential within the same structure.
The property is located on Madison Avenue in the Center Square/Hudson Park area, just steps from Lark Street. The surrounding neighborhood is described as highly walkable, with access to local restaurants and shops, as well as Washington Park, downtown amenities, and state offices.
The commercial space is well suited for a range of business uses that benefit from an operational kitchen and central air, including restaurant, café, retail, or office use as stated. For an owner-occupant or investor, the layout supports a live-and-work scenario with two separate one-bedroom units above the ground-floor space.
The property is located on Madison Avenue in the Center Square/Hudson Park area, just steps from Lark Street. The surrounding neighborhood is described as highly walkable, with access to local restaurants and shops, as well as Washington Park, downtown amenities, and state offices.
The commercial space is well suited for a range of business uses that benefit from an operational kitchen and central air, including restaurant, café, retail, or office use as stated. For an owner-occupant or investor, the layout supports a live-and-work scenario with two separate one-bedroom units above the ground-floor space.
Key Highlights
- Mixed‑use property on Madison Ave in the Center Square/Hudson Park neighborhood
- Commercially zoned with a versatile first‑floor space suited for restaurant, café, retail, office, or other business use
- First‑floor includes central air and a commercial kitchen setup
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
$37,581
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
8.35%
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%
$751,620
$751.6K
Cap Rate 7%
$536,871
$536.9K
Cap Rate 9%
$417,567
$417.6K
Market Conditions
NOI Build-Up for 3,300 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
$57.4K $17.40/SF
− Vacancy
−$3.7K −$1.13/SF
EGI
$53.7K $16.27/SF
− OpEx
−$16.1K −$4.88/SF
NOI
$37.6K $11.39/SF
Area
Albany, NY
Vacancy
6.50%
Lease Rate
$17.40 /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%
$751,620
Cap Rate 7%
$536,871
Cap Rate 9%
$417,567
Alternative Uses
Best Use
Specialty Retail
$653.2K
$571.5K – $762.0K
NOI $45,722 @ 7.0% cap · market cap 10.16%
Second Best
Multifamily LT 5
$536.9K
$469.8K – $626.4K
NOI $37,581 @ 7.0% cap · market cap 8.35%
Theoretical Best
Office A
$870.6K
$761.8K – $1.02M
NOI $60,944 @ 7.0% cap · market cap 13.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 12210, NY
10,559
Population
6,580
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
9,599
Density / Sq Mi
$55,873
Median Household Income
$35,439
Median Earnings
$1,110
Median Rent
$217,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Versatile first-floor commercial space with central air and kitchen setup, plus two upper-floor one-bedroom apartments.
Where is this conventional restaurant located?
The property is located at 418 Madison Avenue Albany, NY.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Mixed‑use property on Madison Ave in the Center Square/Hudson Park neighborhood; Commercially zoned with a versatile first‑floor space suited for restaurant, café, retail, office, or other business use; First‑floor includes central air and a commercial kitchen setup
