Mixed-Use Building With Restaurant
For Sale
$368,000
75 Central Avenue, Albany, NY 12206
Vacant ground-level space includes a kitchen, bar area, and existing equipment.
Property Size3,080 SF
Price / SF$119.48
Days on Market8
Property Features for 75 Central Avenue
General Information
Standard status
Active
Size
3,080 SF
Property subtype
Commercial
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Floor
Ground
Average Monthly Rent
$950
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$9,181
Amenities
rear deck
rooftop
Central air
Baseboard Heating
Built-Up Roof
Concrete Flooring
Deck
Flat Roof
Hot Water Heating
Laminate Flooring
Level
Lighting
Natural Gas Heating
Vinyl Flooring
Wall Unit(s) Cooling
Building Details
Buildings
1
Listing Agency:
COLDWELL BANKER PRIME PROPERTIES
(518) 383-0030
Listed By:
CRAIG R LECLAIRE
Source:
Corcoran
Added: Aug 13
Changed: Aug 18
Last Checked: Aug 20 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 COLDWELL BANKER PRIME PROPERTIES
Investment Insights
Based on property information with market context.
This mixed-use property combines a vacant commercial level with two apartments above. The ground floor contains a large kitchen, a bar area, and equipment that remains with the building, providing an existing restaurant-oriented setup. The upper residential portion includes two one-bedroom, one-bath apartments, each with high ceilings.
Additional building features include a rear deck serving the second floor and rooftop use associated with the third floor. Located at 75 Central Avenue in Albany, the property offers both commercial and residential components within one building.
Additional building features include a rear deck serving the second floor and rooftop use associated with the third floor. Located at 75 Central Avenue in Albany, the property offers both commercial and residential components within one building.
Key Highlights
- Vacant ground‑level commercial space with large kitchen and bar area
- Existing equipment remains with the building
- Two 1 bed, 1 bath apartments above the commercial space
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
$31,462
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
8.55%
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%
$629,240
$629.2K
Cap Rate 7%
$449,457
$449.5K
Cap Rate 9%
$349,578
$349.6K
Market Conditions
NOI Build-Up for 3,080 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
$61.0K $19.80/SF
− Vacancy
−$3.8K −$1.23/SF
EGI
$57.2K $18.57/SF
− OpEx
−$25.7K −$8.36/SF
NOI
$31.5K $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 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%
$629,240
Cap Rate 7%
$449,457
Cap Rate 9%
$349,578
Alternative Uses
Best Use
Specialty Retail
$609.6K
$533.4K – $711.2K
NOI $42,674 @ 7.0% cap · market cap 11.60%
Second Best
Mixed Use
$518.6K
$453.8K – $605.0K
NOI $36,302 @ 7.0% cap · market cap 9.86%
Theoretical Best
Office A
$812.6K
$711.0K – $948.0K
NOI $56,881 @ 7.0% cap · market cap 15.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,078
Businesses Nearby
Explore this area
Business Placement
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
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 - Vacant ground-level space includes a kitchen, bar area, and existing equipment.
Where is this mixed-use property located?
The property is located at 75 Central Avenue Albany, NY.
What is the asking price?
The asking price for this property is $368,000.
What are key features of this property?
This property features: Vacant ground‑level commercial space with large kitchen and bar area; Existing equipment remains with the building; Two 1 bed, 1 bath apartments above the commercial space
