4-Unit Mixed-Use
864 Madison Avenue, Albany, NY 12208
For Sale
$599,000
Updated residential units are paired with ground-floor commercial space.
Property Size5,124 SF
Price / SF$116.90
Days on Market61
Property Features for 864 Madison Avenue
General Information
Standard status
Size
Property subtype
Additional Details
Mixed-Use Components
Building Details
Year Built
Listing Agency:
Gendrons Property Management LLC
Listed By:
Ellen Evans · License #10401377123
(518) 312-7116
Source:
Signatureonerealtygroup
Added: Sep 10
Changed: Nov 8
Last Checked: Nov 8 at 6:44AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 5,124-square-foot mixed-use property in Albany’s Pine Hills area dates to 1910. Four updated residential units occupy the building, with commercial space at street level. Off-street parking is also available.
The property is near Albany Medical Center, colleges and universities, and Albany’s music and nightlife destinations.
The property is near Albany Medical Center, colleges and universities, and Albany’s music and nightlife destinations.
Key Highlights
- Four residential units above ground‑floor commercial space
- 5,124‑square‑foot building constructed in 1910
- Off‑street parking
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
Current Use
Location Intelligence
Trade Area within ½ mile
51
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
$255,300
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Albany, NY
Properties on Market for Mixed-use properties in Albany
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated residential units are paired with ground-floor commercial space.
Where is this mixed-use property located?
The property is located at 864 Madison Avenue 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 residential units above ground‑floor commercial space; 5,124‑square‑foot building constructed in 1910; Off‑street parking
