Turnkey Restaurant with Apartments
465 Madison Avenue Albany, NY
465 Madison Avenue, Albany, NY, 00000
$489,000
For Sale
$489,000
Mixed-use property featuring a restaurant and two apartments for sale.
Property Size3,200 SF
Price / SF$152.81
Days on Market300
Property Features for 465 Madison Avenue
General Information
- Standard status
- Active
- Size
- 3,200 SF
- Property subtype
- Mixed Use
Listing agency
Pyramidbrokerage
(518) 489-9199
Listed by
Pyramid Brokerage Albany
(518) 489-9199
Source
Pyramidbrokerage
Added: Sep 25, 2025 Updated: Jul 6 at 8:28AM Checked: Jul 21 at 2:59AM
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 +/- 3,200 square foot property, formerly El Loco, is available for sale. The property features a turnkey restaurant on the ground floor, with two 1-bedroom apartments located above. Situated at the intersection of Lark Street and Madison Avenue, the location offers retail exposure and visibility. There is an opportunity to increase value through raising below-market rents. The property can be delivered vacant, making it suitable for an owner-occupier.
Key Highlights
- Turnkey restaurant on the ground floor with two 1‑bedroom apartments above.
- Iconic location at the intersection of Lark Street and Madison Avenue providing excellent retail exposure and visibility.
- Opportunity to drive value through increasing below market rents.
Local Financial Insights For Specialty 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 | $63.4k | $19.80 |
| − Vacancy | −$4.2k | −$1.33 |
| EGI | $59.1k | $18.47 |
| − OpEx | −$14.8k | −$4.62 |
| NOI | $44.3k | $13.86 |
3,200 SF · lease $19.80/SF/yr · vacancy 6.70% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$633.4K
$554.2K – $738.9K
NOI $44,336 @ 7.0% cap · market cap 9.07%
Second Best
Retail
$552.3K
$483.3K – $644.4K
NOI $38,664 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$844.3K
$738.7K – $985.0K
NOI $59,098 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Mixed-use properties
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property featuring a restaurant and two apartments for sale.
Where is this mixed-use property located?
The property is located at 465 Madison Avenue Albany, NY.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Turnkey restaurant on the ground floor with two 1‑bedroom apartments above.; Iconic location at the intersection of Lark Street and Madison Avenue providing excellent retail exposure and visibility.; Opportunity to drive value through increasing below market rents.
