Bed & Breakfast with Rooftop
New
For Sale
$599,900
531 Western Avenue, Albany, NY 12203
Three levels of guest rooms accompany an updated eat-in kitchen, shared living space, and off-street parking.
Property Size3,414 SF
Price / SF$175.72
Days on Market6
Property Features for 531 Western Avenue
General Information
Standard status
Active
Size
3,414 SF
Property subtype
Multi-family
Amenities
gas fireplaces
covered front porch
side porch
rooftop deck
interconnected fire system
updated eat in kitchen
laundry
Building Details
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
Coldwell Banker Prime Properties
Listed By:
Rebecca L Cavalieri · License #10401240433
(518) 210-4916
Source:
Signatureonerealtygroup
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 8:06AM
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.
Set at 531 Western Avenue, this three-story bed-and-breakfast property was built in 1900 and contains 3,414 square feet. Its 10 bedrooms and 10 full bathrooms are arranged across the floors: two bedrooms with en-suite baths and a shared bathroom on the first floor, five en-suite bedrooms on the second, and three bedrooms with a common bathroom on the third. The first floor also includes an updated eat-in kitchen, living room, and laundry. Gas fireplaces serve the bedrooms and living room; other features include a rooftop deck, covered front and side porches, off-street parking, and an interconnected fire system. The boiler is nine years old, and the roof is newer. Zoning is Multi Residence.
The property sits between SUNY’s uptown and downtown campuses, with Café Madison, Juniors, Madison Pourhouse, Curry House, and grocery shopping within walking distance. Downtown Albany is a short drive away.
The property sits between SUNY’s uptown and downtown campuses, with Café Madison, Juniors, Madison Pourhouse, Curry House, and grocery shopping within walking distance. Downtown Albany is a short drive away.
Key Highlights
- 10 bedrooms and 10 full bathrooms across three floors
- Seven bedrooms have en‑suite bathrooms; the remaining three share common bathrooms
- 3,414 square feet; built in 1900
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
$18,239
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
3.04%
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%
$364,780
$364.8K
Cap Rate 7%
$260,557
$260.6K
Cap Rate 9%
$202,656
$202.7K
Market Conditions
NOI Build-Up for 3,414 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
$47.1K $13.80/SF
− Vacancy
−$8.7K −$2.55/SF
EGI
$38.4K $11.25/SF
− OpEx
−$20.2K −$5.90/SF
NOI
$18.2K $5.34/SF
Area
Albany, NY
Vacancy
18.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
52.50%
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%
$364,780
Cap Rate 7%
$260,557
Cap Rate 9%
$202,656
Alternative Uses
Best Use
Hotel Hospitality
$260.6K
$228.0K – $304.0K
NOI $18,239 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$900.7K
$788.1K – $1.05M
NOI $63,050 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
812
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
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Frequently Asked Questions
What type of property is this?
Bed & breakfast - Three levels of guest rooms accompany an updated eat-in kitchen, shared living space, and off-street parking.
Where is this bed & breakfast located?
The property is located at 531 Western Avenue Albany, NY.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 10 bedrooms and 10 full bathrooms across three floors; Seven bedrooms have en‑suite bathrooms; the remaining three share common bathrooms; 3,414 square feet; built in 1900
