Downtown Albany Mixed-Use
For Sale
$1,190,000
82 N Pearl Street, Albany, NY 12207
Fully leased, renovated mixed-use building in downtown Albany.
Property Size10,085 SF
Price / SF$117
Days on Market123
Property Features for 82 N Pearl Street
General Information
Standard status
Active
Size
10,085 SF
Property subtype
Commercial
Building Details
Year Built
1850
Listing Agency:
CARROW REAL ESTATE SERVICES LLC
(518) 462-7491
Listed By:
KYLE J BRADLEY · License #10401359503
Source:
Corcoran
Added: Mar 31
Changed: Jul 10
Last Checked: Jul 30 at 6:01AM
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
Investment Insights
Based on property information with market context.
Located at the corner of North Pearl and Columbia Streets, this four-story historic building offers approximately 10,085 square feet of mixed-use space. Originally constructed in 1850 and renovated in 2020, the property features five market-rate apartments and two high-visibility retail storefronts. The building is fully leased and includes a passenger elevator. Zoned MU-DT, the property benefits from excellent exposure and foot traffic in Albany's vibrant downtown district. This turnkey asset is ideal for investors seeking value, stability, and upside potential in a dynamic urban market.
Key Highlights
- Fully Leased Mixed‑Use Building: Generates immediate income with five apartments and two retail spaces.
- Prime Downtown Albany Location: High visibility at the corner of North Pearl and Columbia Streets with excellent foot traffic.
- Renovated Historic Building: Constructed in 1850 and thoughtfully renovated in 2020, blending historic charm with modern updates.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $199.7k | $19.80 |
| − Vacancy | −$12.4k | −$1.23 |
| EGI | $187.3k | $18.57 |
| − OpEx | −$84.3k | −$8.36 |
| NOI | $103.0k | $10.21 |
10,085 SF · lease $19.80/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Retail
$1.74M
$1.52M – $2.03M
NOI $121,853 @ 7.0% cap · market cap 10.24%
Second Best
Mixed Use
$1.70M
$1.49M – $1.98M
NOI $118,864 @ 7.0% cap · market cap 9.99%
Theoretical Best
Office A
$2.66M
$2.33M – $3.10M
NOI $186,250 @ 7.0% cap · market cap 15.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
$242,500
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Albany, NY
Properties on Market for Mixed-use properties in Albany
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 - Fully leased, renovated mixed-use building in downtown Albany.
Where is this mixed-use property located?
The property is located at 82 N Pearl Street Albany, NY.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Fully Leased Mixed‑Use Building: Generates immediate income with five apartments and two retail spaces.; Prime Downtown Albany Location: High visibility at the corner of North Pearl and Columbia Streets with excellent foot traffic.; Renovated Historic Building: Constructed in 1850 and thoughtfully renovated in 2020, blending historic charm with modern updates.
