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 Market53
Property Features for 75 Central Avenue
General Information
Standard status
Active
Size
3,080 SF
Zoning
Mixed
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
Building Details
Buildings
1
Stories
3
Listing Agency:
Coldwell Banker Prime Properties
Listed By:
Craig R LeClaire · License #30LE1163096
(518) 210-7500
Source:
Capmarkrealty
Added: Aug 15
Changed: Oct 1
Last Checked: Oct 5 at 3:49PM
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 / Yr
$31,462
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
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
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 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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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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
