Brick Triplex with Vacant
For Sale
$399,000
536-540 N Pearl St, Albany, NY 12204
Three-apartment property with distinctive tilework, a garden tub, and a coffered living room ceiling.
Property Size3,576 SF
Price / SF$111.58
Days on Market54
Property Features for 536-540 N Pearl St
General Information
Standard status
Active
Size
3,576 SF
Property subtype
Multi-Family
Building Details
Year Built
1880
Listing Agency:
Berkshire Hathaway Home Services Blake
Listed By:
Michael Field · License #10491203035
(518) 669-1804
Source:
Fieldrealty
Added: Sep 7
Changed: Oct 28
Last Checked: Oct 28 at 7:58AM
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 Berkshire Hathaway Home Services Blake
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property includes a solid brick triplex at 536 N Pearl St with three apartments totaling 3,576 square feet. Originally remodeled by an owner-occupant, the building retains distinctive interior details, including tilework throughout, a garden tub in the first unit, and a coffered living room ceiling. Constructed in 1880, the residence provides three separate apartment spaces within an established multifamily structure.
The offering also includes the adjacent vacant parcels at 538 N Pearl St and 540 N Pearl St. Both additional lots carry Two Family Residential zoning, expanding the included land component beyond the existing triplex.
The offering also includes the adjacent vacant parcels at 538 N Pearl St and 540 N Pearl St. Both additional lots carry Two Family Residential zoning, expanding the included land component beyond the existing triplex.
Key Highlights
- Three‑apartment brick building at 536 N Pearl St
- 3,576‑square‑foot multifamily property constructed in 1880
- Sale includes vacant lots at 538 N Pearl St and 540 N Pearl St
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,528
Cap Rate
9.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$730,560
$730.6K
Cap Rate 7%
$521,829
$521.8K
Cap Rate 9%
$405,867
$405.9K
Market Conditions
NOI Build-Up for 3,576 SF
Gross rent
$70.8K $19.80/SF
− Vacancy
−$4.4K −$1.23/SF
EGI
$66.4K $18.57/SF
− OpEx
−$29.9K −$8.36/SF
NOI
$36.5K $10.21/SF
Area
Albany, NY
Vacancy
6.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$730,560
Cap Rate 7%
$521,829
Cap Rate 9%
$405,867
Alternative Uses
Best Use
Multifamily LT 5
$581.8K
$509.1K – $678.8K
NOI $40,725 @ 7.0% cap · market cap 10.21%
Second Best
Apartment 5plus
$521.8K
$456.6K – $608.8K
NOI $36,528 @ 7.0% cap · market cap 9.15%
Theoretical Best
Office A
$943.5K
$825.5K – $1.10M
NOI $66,042 @ 7.0% cap · market cap 16.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
Explore this area
Business Placement
Demographics for 12204, NY
7,818
Population
4,290
Households
1.8
Avg Household Size
37
Median Age
39%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
1,907
Density / Sq Mi
$75,197
Median Household Income
$48,911
Median Earnings
$1,294
Median Rent
$226,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three-apartment property with distinctive tilework, a garden tub, and a coffered living room ceiling.
Where is this triplex located?
The property is located at 536-540 N Pearl St Albany, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Three‑apartment brick building at 536 N Pearl St; 3,576‑square‑foot multifamily property constructed in 1880; Sale includes vacant lots at 538 N Pearl St and 540 N Pearl St
