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Property profile & analytics
FOR LEASE
Investment properties

215 Western Ave Albany, NY 12203

5,186 SF 0.22 ac lot Built 1970
Entity Owned 8-yr Hold ~ Est. High Equity
Property ID
US63-1936112
Property summary
AI-generated overview

This exceptional single-tenant retail property at 215 Western Avenue in Albany, New York, presents a unique investment opportunity. Located in Albany County, this property boasts a convenient address within the 12203 zip code. The building is classified as both retail and land, making it highly versatile. The single-tenant occupancy simplifies management and provides a stable income stream. The property includes a fully functional kitchen, equipped with pizza ovens and other essential restaurant equipment, representing significant value for a prospective buyer. This turnkey solution eliminates the need for extensive upfront investment in kitchen infrastructure. The property's location on Western Avenue offers excellent visibility and accessibility, making it an ideal spot for a thriving restaurant or similar retail business. The property's size and configuration are well-suited for a variety of commercial uses, providing flexibility for potential tenants or owners. This is a rare opportunity to acquire a well-situated, fully equipped commercial property in a desirable Albany location. The property's existing infrastructure and prime location combine to create a compelling investment prospect with strong potential for future growth and profitability. Serious inquiries are encouraged to explore this exceptional offering further. The property is ready for immediate occupancy.

Property profile
Verified
Property type Investment properties
Use group STORE/OFFICE (MIXED USE)
Year built 1970
Total area 5,186 SF
Lot 0.22 ac (9,600 SF)
Zoning code C1
APN 010100 65.62-3-68
UPID US63-1936112
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Ichiban Chinese & Japanese Restaurant Restaurant
  • Munchies Restaurant Take-out & Catering
  • Cocina Nostra by D’Carlito Restaurant
  • El Rey Mexitalia Restaurant
  • Lazaza Smoke Shop (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
215 Western Ave LLC · 8 yrs held
215 Western Ave LLC
since 2017
2 recorded transactions
2017
$1.0M
2013
$337,500
Zoning & alternative use
C1 · Albany, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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