Four-Unit Mixed-Use
New
For Sale
$599,000
864 Madison Ave, Albany, NY 12208
Ground-floor commercial space complements updated residential units, with off-street parking on site.
Property Size5,124 SF
Price / SF$116.90
Days on Market7
Property Features for 864 Madison Ave
General Information
Standard status
Active
Size
5,124 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$7,283
Listing Agency:
Gendrons Property Management LLC
(518) 360-8492
Listed By:
Ellen Evans · License #10401377123
(518) 312-7116
Source:
Exprealty
Added: Oct 7
Changed: Oct 13
Last Checked: Oct 13 at 2:21AM
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 Gendrons Property Management LLC
Investment Insights
Based on property information with market context.
This 5,124-square-foot mixed-use property contains four units, with commercial space at street level. The residential units have been updated, and off-street parking is available.
The property is at 864 Madison Ave in Albany, near Albany Medical Center and area colleges and universities. The surrounding area also includes music and nightlife destinations.
The property is at 864 Madison Ave in Albany, near Albany Medical Center and area colleges and universities. The surrounding area also includes music and nightlife destinations.
Key Highlights
- Four‑unit mixed‑use property totaling 5,124 square feet
- Commercial space occupies the ground floor
- Updated residential units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,341
Cap Rate
8.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,046,820
$1.0M
Cap Rate 7%
$747,729
$747.7K
Cap Rate 9%
$581,567
$581.6K
Market Conditions
NOI Build-Up for 5,124 SF
Gross rent
$101.5K $19.80/SF
− Vacancy
−$6.3K −$1.23/SF
EGI
$95.2K $18.57/SF
− OpEx
−$42.8K −$8.36/SF
NOI
$52.3K $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%
$1,046,820
Cap Rate 7%
$747,729
Cap Rate 9%
$581,567
Alternative Uses
Best Use
Retail
$884.4K
$773.9K – $1.03M
NOI $61,911 @ 7.0% cap · market cap 10.34%
Second Best
Mixed Use
$862.8K
$754.9K – $1.01M
NOI $60,393 @ 7.0% cap · market cap 10.08%
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,630 @ 7.0% cap · market cap 15.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,969
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space complements updated residential units, with off-street parking on site.
Where is this mixed-use property located?
The property is located at 864 Madison Ave Albany, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Four‑unit mixed‑use property totaling 5,124 square feet; Commercial space occupies the ground floor; Updated residential units
