Building Details

Floors in Building 4

Building materials Brick

Architectural style Other

Listing Agency: Madison Park Real Estate s***@madisonparkalbany.com

Listed By: Shane Mahar · License #10491207239 Show Phone

Added: Oct 5 Changed: Oct 6 Last Checked: Oct 6 at 9:06PM

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MLS# 202627660

Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This six-property Albany portfolio includes a 23,408-square-foot office building at 747 Madison Avenue and a 4,000-square-foot warehouse beside it. The warehouse is used by the current owner, and a four-car garage is located next to the warehouse. Three apartment buildings at 731, 755, and 765 Madison Avenue contain a combined 17 units. Most apartment interiors and office spaces have been updated.

The 765 Madison Avenue building is a large brick structure with seven units. An undeveloped lot behind it has an address on Hamilton Street. The properties are on a combined 0.51 acres and have mixed zoning.

Key Highlights

• Six‑property portfolio spanning office, apartments, warehouse, garage, and land
• 23,408‑square‑foot office building at 747 Madison Avenue
• 17 apartment units across buildings at 731, 755, and 765 Madison Avenue

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$320,369

Cap Rate

8.43%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,407,380 $6.4M

Cap Rate 7%

$4,576,700 $4.6M

Cap Rate 9%

$3,559,656 $3.6M

Market Conditions

NOI Build-Up for 23,408 SF

Gross rent

$519.7K $22.20/SF

− Vacancy

−$92.5K −$3.95/SF

EGI

$427.2K $18.25/SF

− OpEx

−$106.8K −$4.56/SF

NOI

$320.4K $13.69/SF

Area

Albany, NY

Vacancy

17.80%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,407,380

Cap Rate 7%

$4,576,700

Cap Rate 9%

$3,559,656

Alternative Uses

Best Use

Office B

$4.58M

$4.00M – $5.34M (±1% cap)

NOI $320,369 @ 7.0% cap · market cap 8.43%

Second Best

Warehouse

$4.01M

$3.51M – $4.68M (±1% cap)

NOI $280,843 @ 7.0% cap · market cap 7.39%

Theoretical Best

Office A

$6.18M

$5.40M – $7.20M (±1% cap)

NOI $432,299 @ 7.0% cap · market cap 11.38%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Real Estate Agency Acupuncture HVAC Service Furniture & Home Goods Kitchen & Bath Showroom (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

17

Residential units

Location Intelligence

Trade Area within ½ mile

3,225

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 Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The assemblage combines office, multifamily, warehouse, garage, and undeveloped land uses.

Where is this mixed-use property located?

The property is located at 747 Madison Avenue Albany, NY.

What is the asking price?

The asking price for this property is $3,800,000.

What are key features of this property?

This property features: Six‑property portfolio spanning office, apartments, warehouse, garage, and land; 23,408‑square‑foot office building at 747 Madison Avenue; 17 apartment units across buildings at 731, 755, and 765 Madison Avenue