5-Unit Apartment
552 Madison Ave, Albany, NY 12208
For Sale
$700,000
Two-story property with a mix of one- and two-bedroom apartments near Washington Park and Albany Medical Center.
Property Size4,608 SF
Price / SF$151.91
Days on Market97
Property Features for 552 Madison Ave
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Stories
Listing Agency:
Howard Hanna Capital Inc
Listed By:
Brian Walters · License NY 30WA0832219
(518) 526-1800
Source:
Albanyprimeproperties
Added: Aug 10
Changed: Nov 12
Last Checked: Nov 12 at 7:29AM
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 Howard Hanna Capital Inc
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Investment Insights
Based on property information with market context.
This two-story apartment building contains five units: three with one bedroom and one bathroom, plus two with two bedrooms and one bathroom. The property totals 4,608 square feet, with one apartment currently occupied and four positioned for cosmetic renovation. Interior and exterior character includes hardwood flooring, original moldings, custom doors, and a brick facade.
The building occupies the corner of New Scotland and Madison Avenue, directly across from Washington Park and Albany Medical Center. A floor plan is included in the property documents. The offering can also be combined with 558 Madison Avenue, providing an option to acquire both properties as a package.
The building occupies the corner of New Scotland and Madison Avenue, directly across from Washington Park and Albany Medical Center. A floor plan is included in the property documents. The offering can also be combined with 558 Madison Avenue, providing an option to acquire both properties as a package.
Key Highlights
- Five‑unit apartment building totaling 4,608 square feet
- Unit mix includes three 1BD/1BA apartments and two 2BD/1BA apartments
- One unit occupied; four units positioned for cosmetic renovations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,070
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$941,400
$941.4K
Cap Rate 7%
$672,429
$672.4K
Cap Rate 9%
$523,000
$523.0K
Market Conditions
NOI Build-Up for 4,608 SF
Gross rent
$91.2K $19.80/SF
− Vacancy
−$5.7K −$1.23/SF
EGI
$85.6K $18.57/SF
− OpEx
−$38.5K −$8.36/SF
NOI
$47.1K $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%
$941,400
Cap Rate 7%
$672,429
Cap Rate 9%
$523,000
Alternative Uses
Best Use
Apartment 5plus
$672.4K
$588.4K – $784.5K
NOI $47,070 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,101 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
3,701
Businesses Nearby
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Business Placement
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
$255,300
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Albany, NY
Properties on Market for Apartment buildings in Albany
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story property with a mix of one- and two-bedroom apartments near Washington Park and Albany Medical Center.
Where is this apartment building located?
The property is located at 552 Madison Ave Albany, NY.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Five‑unit apartment building totaling 4,608 square feet; Unit mix includes three 1BD/1BA apartments and two 2BD/1BA apartments; One unit occupied; four units positioned for cosmetic renovations
