181 Western Ave, Albany, NY 12203

31,740 SF 1.87 ac lot

Property ID

US63-2493943

$1,650,000 31,740 SF

181 Western Ave, Albany, NY 12203
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This exceptional mixed-use property, located at 181 Western Avenue in Albany, NY, presents a unique investment opportunity. The property encompasses two buildings totaling approximately 31,740 square feet, constructed in 1929 and 1952, and situated on a generous 1.87-acre lot. Currently vacant, the property is zoned for mixed-use development under the Mixed-use Form-Based Midtwn designation, offering considerable flexibility for adaptive reuse. The buildings, previously used as a church, meeting hall, and administrative offices, boast a versatile layout suitable for a variety of commercial or institutional purposes. The asking price is $1,695,000, translating to $53.40 per square foot. The property's prime location in Albany, NY, offers unparalleled access to key institutions, including The College of Saint Rose, SUNY Albany, Albany Medical College, Albany Law School, and Albany College of Pharmacy. The property includes four parcels at 167, 181, and 197 Western Avenue and 180 South Quail Street. This presents a rare chance to acquire a substantial property with significant redevelopment potential in a thriving urban setting. The property's Class B designation reflects its existing condition, offering a strong value proposition for investors seeking a renovation or adaptive reuse project.