Mixed-Use Building with Kitchen
418 Madison Avenue Albany, NY 12210
418 Madison Avenue, Albany, NY, 12210
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For Sale
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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 Market55
Property Features for 418 Madison Avenue
General Information
- Standard status
- Active
- Size
- 3,300 SF
- Property subtype
- Multifamily
Listing agency
Coldwell Banker Prime Properties
Listed by
Carol Landau · License #NY 30LA1007361
Source
Crexi
Added: May 28 Updated: Jul 10 at 3:59PM Checked: Jul 19 at 7:48AM
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
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 | $61.4k | $18.60 |
| − Vacancy | −$4.4k | −$1.34 |
| EGI | $57.0k | $17.26 |
| − OpEx | −$17.1k | −$5.18 |
| NOI | $39.9k | $12.08 |
3,300 SF · lease $18.60/SF/yr · vacancy 7.20% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$653.2K
$571.5K – $762.0K
NOI $45,722 @ 7.0% cap · market cap 10.16%
Second Best
Retail
$569.6K
$498.4K – $664.5K
NOI $39,872 @ 7.0% cap · market cap 8.86%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
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
