Office Unit with Private Roof
For Sale
Contact for pricing
76 N Pearl Street Suite 3, Albany, NY 12207
The move-in-ready workspace has private offices, workstations, a conference room, and a break room.
Property Size108,000 SF
Price / SF$0.00
Days on Market523
Property Features for 76 N Pearl Street Suite 3
General Information
Standard status
Active
Size
108,000 SF
Class
Class A
Property subtype
Office
Space & Availability
Floor
6
Condition
Move-in Ready
Additional Details
Highway Access
Yes
Property Use
Office
Amenities
24-hour fitness center
indoor pool
cold tub
steam room
private rooftop deck
indoor dog park
daily in-suite janitorial
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Carrow Real Estate Services LLC
(518) 462-7491
Listed By:
Rudy R Lynch · License #10301200002
(518) 337-3705
Source:
Simplywoodardrealestate
Added: May 29, 2025
Changed: Nov 1
Last Checked: Nov 1 at 3:31PM
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.
A Class A office suite occupies the sixth floor of the historic Kenmore Hotel at 76 N Pearl Street in downtown Albany. The approximately 8,000-square-foot space is configured with 23 private offices, four workstations, a conference room, and a break room. A private rooftop deck and daily in-suite janitorial service are included, and the suite is available for lease.
The hotel conversion includes 93 apartments and 35,000 square feet of retail and office space. The building is seconds from I-787 exit 4B. Tenants have access to a 24-hour fitness center with an indoor pool, cold tub, and steam room, as well as an indoor dog park. Ample parking is available.
The hotel conversion includes 93 apartments and 35,000 square feet of retail and office space. The building is seconds from I-787 exit 4B. Tenants have access to a 24-hour fitness center with an indoor pool, cold tub, and steam room, as well as an indoor dog park. Ample parking is available.
Key Highlights
- Approximately 8,000 SF of Class A office space on the sixth floor
- Layout includes 23 private offices, 4 workstations, a conference room, and a break room
- Private rooftop deck and daily in‑suite janitorial service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,478,120
Suggested Prices Based on Cap Rates
Cap Rate 5%
$29,562,400
$29.6M
Cap Rate 7%
$21,116,000
$21.1M
Cap Rate 9%
$16,423,556
$16.4M
Market Conditions
NOI Build-Up for 108,000 SF
Gross rent
$2.40M $22.20/SF
− Vacancy
−$426.8K −$3.95/SF
EGI
$1.97M $18.25/SF
− OpEx
−$492.7K −$4.56/SF
NOI
$1.48M $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%
$29,562,400
Cap Rate 7%
$21,116,000
Cap Rate 9%
$16,423,556
Alternative Uses
Best Use
Office B
$21.12M
$18.48M – $24.64M
NOI $1,478,120 @ 7.0% cap · market cap 9,238,250.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$28.49M
$24.93M – $33.24M
NOI $1,994,544 @ 7.0% cap · market cap 12,465,900.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,787
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - The move-in-ready workspace has private offices, workstations, a conference room, and a break room.
Where is this office unit located?
The property is located at 76 N Pearl Street Suite 3 Albany, NY.
What are key features of this property?
This property features: Approximately 8,000 SF of Class A office space on the sixth floor; Layout includes 23 private offices, 4 workstations, a conference room, and a break room; Private rooftop deck and daily in‑suite janitorial service
