Turnkey Albany Restaurant
For Sale
$189,000
Pending
494 Washington Avenue, Albany, NY 12203
COMMERCIAL - Albany, NY
Property Size750 SF
Lot Size0.04 Acres
Days on Market362
Property Features for 494 Washington Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking features
On Street
Directions
Head down Washington Ave towards Downtown Albany, Building will be on the right hand side of the street in between Quail Street ad Cortland Place.
Standard status
Pending
APN
010100 65.62-2-14
Size
750 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
3435
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Building materials
Aluminum Siding
Listing Agency:
Hanna Commercial
(518) 458-7000
Listed By:
Philip Sabatino · License #10401299525
(518) 376-2717
Added: Aug 5, 2025
Changed: May 15
Last Checked: Aug 1 at 5:06AM
MLS# 202523239
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial property in Albany, NY, presents a turnkey restaurant opportunity. Known as Dan's Place Two, this well-maintained property includes the building and all Furniture, Fixtures, and Equipment (FF&E). The property has been a neighborhood staple for generations, known for its welcoming atmosphere and loyal customer base. The building is situated in a convenient location with high visibility. The property is zoned commercial and has a lot size of 0.04 acres. The building size is 750 square feet. This is an opportunity for entrepreneurs, investors, or restaurateurs to continue its legacy or create something new.
Key Highlights
- Turnkey restaurant opportunity including building, FF&E.
- Iconic Albany restaurant with established legacy.
- Highly visible, well‑maintained property.
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 | $14.9k | $19.80 |
| − Vacancy | −$995 | −$1.33 |
| EGI | $13.9k | $18.47 |
| − OpEx | −$3.5k | −$4.62 |
| NOI | $10.4k | $13.86 |
750 SF · lease $19.80/SF/yr · vacancy 6.70% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$148.4K
$129.9K – $173.2K
NOI $10,391 @ 7.0% cap · market cap 5.50%
Second Best
Retail
$129.5K
$113.3K – $151.0K
NOI $9,062 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$197.9K
$173.1K – $230.9K
NOI $13,851 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,371
Businesses Nearby
45k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Shops & Services 34%
McDonald's
Dining
17,748 visits/mo
0.4 miles
Burger King
Dining
11,928 visits/mo
0.5 miles
Exxon
Shops & Services
7,137 visits/mo
0.2 miles
Sunoco
Shops & Services
5,929 visits/mo
0.4 miles
Mavis Discount Tire
Shops & Services
1,434 visits/mo
0.3 miles
Demographics for 12203, NY
28,210
Population
14,755
Households
1.9
Avg Household Size
38
Median Age
54%
College-Educated
95%
High-School Grad
10.4 sq mi
ZIP Area
2,713
Density / Sq Mi
$80,055
Median Household Income
$44,412
Median Earnings
$1,342
Median Rent
$258,800
Median Home Value
Market
Properties on Market for Restaurants in Albany
Vacancy Rate% for Retail in Albany, NY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Wally's Catering Kitchen — 613 Clinton Ave, Albany, NY 12206
Frequently Asked Questions
What type of property is this?
Restaurant - Iconic Albany restaurant for sale, includes building and all FF&E.
Where is this restaurant located?
The property is located at 494 Washington Avenue Albany, NY.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Turnkey restaurant opportunity including building, FF&E.; Iconic Albany restaurant with established legacy.; Highly visible, well‑maintained property.
