Mixed-Use Corner
For Sale
$700,000
558 Madison Avenue, Albany, NY 12208
Corner mixed-use building with full first-floor commercial space and three upstairs 1-bedroom units, pending renovation.
Property Size4,936 SF
Price / SF$141.82
Days on Market100
Property Features for 558 Madison Avenue
General Information
Standard status
Active
Size
4,936 SF
Property subtype
Commercial
Building Details
Year Built
1901
Listing Agency:
New Scotland Realty
Listed By:
Samantha M Curry · License #10491209794
(603) 209-1976
Source:
Signatureonerealtygroup
Added: May 29
Changed: Sep 4
Last Checked: Sep 5 at 9:25AM
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
Investment Insights
Based on property information with market context.
This corner mixed-use building includes an extremely spacious commercial space spanning the entirety of the first floor, along with three residential 1-bedroom units on the floors above. Floor plans are available in the provided documents. Renovation is needed, offering an opportunity to reposition the building into its next chapter.
The property is located on the corner of Madison and New Scotland Avenue in Albany, with the remarks indicating it is just blocks from Albany Medical Center. The building can also be sold as a package with 552 Madison Avenue, subject to buyer interest and terms.
From a practical tenant and ownership standpoint, the existing configuration supports separate commercial and residential use within the same structure, with the current layout and unit count defined by the floor plans included in the offering materials.
The property is located on the corner of Madison and New Scotland Avenue in Albany, with the remarks indicating it is just blocks from Albany Medical Center. The building can also be sold as a package with 552 Madison Avenue, subject to buyer interest and terms.
From a practical tenant and ownership standpoint, the existing configuration supports separate commercial and residential use within the same structure, with the current layout and unit count defined by the floor plans included in the offering materials.
Key Highlights
- 1901‑built corner mixed‑use building at the intersection of Madison and New Scotland Avenue
- Full first‑floor commercial space spanning the entire first floor
- Three upstairs 1‑bedroom units (floor plans included in available docs)
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
$59,640
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
8.52%
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%
$1,192,800
$1.2M
Cap Rate 7%
$852,000
$852.0K
Cap Rate 9%
$662,667
$662.7K
Market Conditions
NOI Build-Up for 4,936 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
$91.8K $18.60/SF
− Vacancy
−$6.6K −$1.34/SF
EGI
$85.2K $17.26/SF
− OpEx
−$25.6K −$5.18/SF
NOI
$59.6K $12.08/SF
Area
Albany, NY
Vacancy
7.20%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,192,800
Cap Rate 7%
$852,000
Cap Rate 9%
$662,667
Alternative Uses
Best Use
Retail
$852.0K
$745.5K – $994.0K
NOI $59,640 @ 7.0% cap · market cap 8.52%
Second Best
Mixed Use
$831.1K
$727.2K – $969.6K
NOI $58,177 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,158 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner mixed-use building with full first-floor commercial space and three upstairs 1-bedroom units, pending renovation.
Where is this mixed-use property located?
The property is located at 558 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: 1901‑built corner mixed‑use building at the intersection of Madison and New Scotland Avenue; Full first‑floor commercial space spanning the entire first floor; Three upstairs 1‑bedroom units (floor plans included in available docs)
