Mixed-Use Live-Work
For Sale
$274,900
54 James Street, Albany, NY 12207
Mixed-use property with street-level commercial space and a second-floor one-bedroom apartment, delivered vacant Aug. 15.
Property Size1,008 SF
Price / SF$272.72
Days on Market145
Property Features for 54 James Street
General Information
Standard status
Active
Size
1,008 SF
Property subtype
Commercial
Restaurant
Commercial Hood
Yes
Grease Trap
Yes
Additional Details
Highway Access
Yes
Building Details
Year Built
1910
Listing Agency:
Kellie Kieley Realty LLC
Listed By:
Brian A Amaral
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Mar 8
Changed: Jul 27
Last Checked: Jul 30 at 5:50PM
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 Kellie Kieley Realty LLC
Investment Insights
Based on property information with market context.
This mixed-use live-work opportunity includes street-level commercial space and a second-floor one-bedroom apartment. The commercial area features existing restaurant infrastructure, including a built-in commercial kitchen hood, grease trap, and a private restroom, while remaining adaptable for a range of commercial uses. The roof was replaced in August 2020. The property is sold as-is, with buyer due diligence recommended.
The building is located directly across from Tricentennial Park within a walkable downtown Albany corridor, with access to nearby businesses, restaurants, government offices, public transportation, and major highways.
Beginning August 15, both the street-level commercial space and the second-floor apartment will be delivered vacant. The commercial space and the apartment are also available for lease, providing flexibility for an investor, owner-occupant, or tenant.
The building is located directly across from Tricentennial Park within a walkable downtown Albany corridor, with access to nearby businesses, restaurants, government offices, public transportation, and major highways.
Beginning August 15, both the street-level commercial space and the second-floor apartment will be delivered vacant. The commercial space and the apartment are also available for lease, providing flexibility for an investor, owner-occupant, or tenant.
Key Highlights
- Mixed‑use property built in 1910 with street‑level commercial space plus a second‑floor 1‑bedroom apartment
- Commercial space and apartment will be delivered vacant beginning Aug. 15
- Street‑level space includes a built‑in commercial kitchen hood, grease trap, and private restroom
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 | $20.0k | $19.80 |
| − Vacancy | −$1.3k | −$1.33 |
| EGI | $18.6k | $18.47 |
| − OpEx | −$4.7k | −$4.62 |
| NOI | $14.0k | $13.86 |
1,008 SF · lease $19.80/SF/yr · vacancy 6.70% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$199.5K
$174.6K – $232.8K
NOI $13,966 @ 7.0% cap · market cap 5.08%
Second Best
Office B
$197.1K
$172.5K – $229.9K
NOI $13,796 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$265.9K
$232.7K – $310.3K
NOI $18,616 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
3,355
Businesses Nearby
Explore this area
Business Placement
Demographics for 12207, NY
2,399
Population
1,553
Households
1.5
Avg Household Size
37
Median Age
36%
College-Educated
90%
High-School Grad
1.0 sq mi
ZIP Area
2,399
Density / Sq Mi
$32,418
Median Household Income
$49,531
Median Earnings
$689
Median Rent
$242,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Mixed-use property with street-level commercial space and a second-floor one-bedroom apartment, delivered vacant Aug. 15.
Where is this live-work space located?
The property is located at 54 James Street Albany, NY.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Mixed‑use property built in 1910 with street‑level commercial space plus a second‑floor 1‑bedroom apartment; Commercial space and apartment will be delivered vacant beginning Aug. 15; Street‑level space includes a built‑in commercial kitchen hood, grease trap, and private restroom
