Five-Unit Historic Apartment
For Sale
$700,000
552 Madison Avenue, Albany, NY 12208
Two-story property with varied one- and two-bedroom layouts and historic architectural details.
Property Size4,608 SF
Price / SF$151.91
Days on Market86
Property Features for 552 Madison Avenue
General Information
Standard status
Active
Size
4,608 SF
Property subtype
Multi-Family
Occupancy
20%
Property Condition
Severity
Repairs Needed
Evidence
primed for cosmetic renovations
Units
Unit Mix
3 x 1BD/1BA, 2 x 2BD/1BA
Multifamily Units
5
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$8,780
Building Details
Year Built
1875
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
New Scotland Realty
Listed By:
Samantha M Curry · License #10491209794
(603) 209-1976
Source:
Capmarkrealty
Added: Jul 24
Changed: Oct 9
Last Checked: Oct 16 at 6:13AM
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 New Scotland Realty
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.
This 4,608-square-foot apartment building dates to 1875 and includes five residential units across two stories. The unit mix consists of three one-bedroom, one-bath apartments and two two-bedroom, one-bath apartments. One unit is currently occupied, while four are positioned for cosmetic renovation. Interior and exterior character includes hardwood flooring, original moldings, custom doors, and a brick facade.
The property occupies the corner of New Scotland and Madison Avenue, directly across from Washington Park and Albany Medical Center. The offering may also be combined with 558 Madison Avenue, creating a potential package acquisition for the two properties.
The property occupies the corner of New Scotland and Madison Avenue, directly across from Washington Park and Albany Medical Center. The offering may also be combined with 558 Madison Avenue, creating a potential package acquisition for the two properties.
Key Highlights
- Five‑unit apartment building with three 1BD/1BA and two 2BD/1BA units
- 4,608 square feet across two stories
- Built in 1875 with brick facade, hardwood floors, original moldings, and custom doors
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
5
Residential units
20%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story property with varied one- and two-bedroom layouts and historic architectural details.
Where is this apartment building located?
The property is located at 552 Madison Avenue 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 with three 1BD/1BA and two 2BD/1BA units; 4,608 square feet across two stories; Built in 1875 with brick facade, hardwood floors, original moldings, and custom doors
