Mixed-Use Corner
558 Madison Avenue Albany, NY 12208
558 Madison Avenue, Albany, NY, 12208
$700,000
For Sale
$700,000
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 Market9
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
(518) 964-2066
Listed by
SAMANTHA M CURRY · License #10491209794
Source
Corcoran
Added: Jul 14 Updated: Jul 21 at 11:54PM Checked: Jul 21 at 11:54PM
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)
Local Financial Insights For 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 | $91.8k | $18.60 |
| − Vacancy | −$6.6k | −$1.34 |
| EGI | $85.2k | $17.26 |
| − OpEx | −$25.6k | −$5.18 |
| NOI | $59.6k | $12.08 |
4,936 SF · lease $18.60/SF/yr · vacancy 7.20% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
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)
