Building Details

Year Built 1930

Buildings 1

Listing Agency: Venture Fox Realty Group LLC

Listed By: Christopher Pratt · License #10401381795 Show Phone

Source: Signatureonerealtygroup

Added: Oct 18 Changed: Oct 21 Last Checked: Oct 21 at 2:17AM

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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 Venture Fox Realty Group LLC

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Investment Insights

Based on property information with market context.

This 1,872-square-foot mixed-use property at 507 Yates Street includes an operating pub and grill, equipped bar, kitchen and preparation area, outdoor patio, and a two-bedroom apartment on the second floor. Built in 1930, the offering includes the real estate, business, furniture, fixtures, and equipment.

The property is one block from the College of Saint Rose campus in Albany’s Pine Hills neighborhood. A proposed 160-unit, 55+ residential development is nearby.

Key Highlights

• 1,872‑square‑foot mixed‑use property built in 1930
• Operating pub and grill with equipped bar and kitchen/preparation area
• Two‑bedroom apartment on the second floor

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,937

Cap Rate

6.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$518,740 $518.7K

Cap Rate 7%

$370,529 $370.5K

Cap Rate 9%

$288,189 $288.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,872 SF

Gross rent

$37.1K $19.80/SF

− Vacancy

−$2.5K −$1.33/SF

EGI

$34.6K $18.47/SF

− OpEx

−$8.6K −$4.62/SF

NOI

$25.9K $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 Rate 5%

$518,740

Cap Rate 7%

$370,529

Cap Rate 9%

$288,189

Alternative Uses

Best Use

Specialty Retail

$370.5K

$324.2K – $432.3K (±1% cap)

NOI $25,937 @ 7.0% cap · market cap 6.10%

Second Best

Mixed Use

$315.2K

$275.8K – $367.7K (±1% cap)

NOI $22,064 @ 7.0% cap · market cap 5.19%

Theoretical Best

Office A

$493.9K

$432.2K – $576.2K (±1% cap)

NOI $34,572 @ 7.0% cap · market cap 8.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Casey Finn's Bar & Pub

Suggested Use

Top Pick Real Estate Agency HVAC Service Kitchen & Bath Showroom Bakery Acupuncture Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

1,712

Businesses Nearby

27k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 77% Dining 23%

Mobil Shops & Services

10,707 visits/mo 0.4 miles

Exxon Shops & Services

7,137 visits/mo 0.5 miles

Dunkin' Donuts Dining

6,383 visits/mo 0.4 miles

Citizens Bank Shops & Services

3,088 visits/mo 0.4 miles

Demographics for 12208, NY

22,118

Population

11,522

Households

1.9

Avg Household Size

34

Median Age

56%

College-Educated

93%

High-School Grad

4.4 sq mi

ZIP Area

5,027

Density / Sq Mi

$69,505

Median Household Income

$39,268

Median Earnings

$1,291

Median Rent

$255,300

Median Home Value

Market

Vacancy Rate% for Retail in Albany, NY

5.4% 2020

4.8% 2021

5.5% 2022

4.7% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The hospitality property combines a furnished pub and kitchen with a second-floor residence.

Where is this mixed-use property located?

The property is located at 507 Yates Street Albany, NY.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: 1,872‑square‑foot mixed‑use property built in 1930; Operating pub and grill with equipped bar and kitchen/preparation area; Two‑bedroom apartment on the second floor