Corner Storefront with Restaurant
For Sale
Contact for pricing
61 N Pearl Street, Albany, NY 12207
A full bar, commercial kitchen, and enclosed outdoor dining area support food-and-beverage operations.
Property Size26,544 SF
Price / SF$0.00
Days on Market215
Property Features for 61 N Pearl Street
General Information
Standard status
Active
Size
26,544 SF
Property subtype
Retail
Site & Location
Corner Location
Yes
Highway Access
Yes
Restaurant
Commercial Hood
Yes
Patio
Yes
Equipment Included
Yes
Amenities
full bar
commercial kitchen
Hood & Ansul system
partially equipped kitchen
walk-in coolers
large bar
gated outdoor dining
Building Details
Year Built
1800
Listing Agency:
Carrow Real Estate Services LLC
(518) 462-7491
Listed By:
Kyle J Bradley · License #10301224313
(845) 325-1568
Source:
Simplywoodardrealestate
Added: Apr 2
Changed: Nov 1
Last Checked: Nov 1 at 4:22PM
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 Carrow Real Estate Services LLC
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Investment Insights
Based on property information with market context.
This 7,100-square-foot storefront has a restaurant configuration with a full bar and commercial kitchen. Kitchen features include a hood with an Ansul system, partial equipment, and two walk-in coolers. The property also has a large bar and a gated outdoor dining area along Steuben Street.
The storefront occupies the corner of North Pearl and Steuben streets in downtown Albany. Government offices, workplaces, and residential areas surround the property, with access from I-787.
The storefront occupies the corner of North Pearl and Steuben streets in downtown Albany. Government offices, workplaces, and residential areas surround the property, with access from I-787.
Key Highlights
- 7,100 square feet of retail space configured for restaurant use
- Full bar and commercial kitchen with hood and Ansul system
- Partially equipped kitchen and two walk‑in coolers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$320,719
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,414,380
$6.4M
Cap Rate 7%
$4,581,700
$4.6M
Cap Rate 9%
$3,563,544
$3.6M
Market Conditions
NOI Build-Up for 26,544 SF
Gross rent
$493.7K $18.60/SF
− Vacancy
−$35.5K −$1.34/SF
EGI
$458.2K $17.26/SF
− OpEx
−$137.5K −$5.18/SF
NOI
$320.7K $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 Rate 5%
$6,414,380
Cap Rate 7%
$4,581,700
Cap Rate 9%
$3,563,544
Alternative Uses
Best Use
Specialty Retail
$5.25M
$4.60M – $6.13M
NOI $367,768 @ 7.0% cap · market cap 3,343,345.45%
Second Best
Retail
$4.58M
$4.01M – $5.35M
NOI $320,719 @ 7.0% cap · market cap 2,915,627.27%
Theoretical Best
Office A
$7.00M
$6.13M – $8.17M
NOI $490,215 @ 7.0% cap · market cap 4,456,500.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
3,787
Businesses Nearby
21k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 64%
Shops & Services 26%
Electronics 9%
Renaissance Albany Hotel
Hotels & Casinos
6,703 visits/mo
0.2 miles
Sunoco
Shops & Services
5,588 visits/mo
0.4 miles
Hampton Inn & Suites Albany Downtown
Hotels & Casinos
4,856 visits/mo
0.1 miles
Hyatt Place
Hotels & Casinos
2,110 visits/mo
0.3 miles
Boost Mobile
Electronics
2,019 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Albany, NY
Similar Off Market Nearby
- The Enchanted Florist of Albany — 54 Columbia St, Albany, NY 12207
- Lark Street Flower Market Inc — NEW LOCATION, 219 Lark St, Albany, NY 12210
Frequently Asked Questions
What type of property is this?
Storefront property - A full bar, commercial kitchen, and enclosed outdoor dining area support food-and-beverage operations.
Where is this storefront property located?
The property is located at 61 N Pearl Street Albany, NY.
What are key features of this property?
This property features: 7,100 square feet of retail space configured for restaurant use; Full bar and commercial kitchen with hood and Ansul system; Partially equipped kitchen and two walk‑in coolers
