Property profile

1890 Central Ave Albany, NY 12205

OFF-MARKET
Turn key restaurants
Property ID
US63-2272163
3,720 SF 0.77 ac lot Built 1973
Entity Owned 12-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional opportunity presents the chance to acquire the well-established Colonie Diner, a thriving family-owned business located at 1890 Central Ave in Colonie, NY. The sale includes the business, all fixtures, furniture, and equipment, ensuring a smooth transition for the new owner. The 3,720 square foot, single-story building sits on a 0.77-acre lot and includes a separate four-bedroom home currently occupied by the owner. Built in 1973, the diner boasts a prime location on a busy main road, offering excellent visibility and accessibility. Currently operating from 7 AM to 3 PM, there's significant potential to extend hours and increase revenue. The property features a Class B building with asphalt shingles and municipal water. The asking price is $1,800,000, reflecting a price per square foot of $483.87. The property is zoned COR and includes two buildings, offering a unique opportunity to own a successful, established restaurant with significant growth potential and additional residential income. This turnkey operation is ready for a new owner to continue its legacy of providing delicious food and community service. The sale includes the business and real estate, offering a combined investment opportunity.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1973
Total area 3,720 SF
Lot 0.77 ac (33,541 SF)
Zoning code 45
APN 012601 29.10-2-2
UPID US63-2272163

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant

Location

1890 Central Ave Albany, NY 12205-4223
Albany metro Census 13901 ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$215k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$230k

Owner & transaction history

since 2014
1 recorded transaction
2014
Price N/A

Zoning & alternative use

45 · Albany, NY

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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