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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    263 Pearl St Albany, NY 12202

    • Commercial real estate
    • 0.06 lot acres
    For Sale
    View listing
    $279,999
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0043029
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 263 Pearl St

    Year built
    1920
    Lot size
    0.06 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional commercial property, located at 263 S Pearl St Unit 263 in Albany, NY, presents a unique investment opportunity. Situated on a 0.06-acre lot, this "Other" property type offers significant potential for redevelopment or adaptive reuse. The asking price is $279,999. The property's precise square footage is currently unavailable, however, the substantial lot size suggests ample space for a variety of commercial ventures. Its central Albany location provides excellent visibility and accessibility, making it an attractive proposition for businesses seeking a high-traffic area. The property's versatility allows for creative development plans, catering to a wide range of commercial uses. Given the limited availability of commercial land in this desirable location, this property represents a rare chance to acquire a strategically positioned asset with considerable upside. Serious inquiries are encouraged to explore the possibilities this unique offering presents. Further details regarding zoning regulations and potential development options are readily available upon request. This is an exceptional opportunity to secure a prime piece of Albany real estate with significant long-term growth potential. Don't miss out on this chance to acquire a valuable commercial property in a thriving urban setting.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.75684
    Latitude
    42.64224

    Comparable in this City

    • $600,000
      0.10 Acres

      Downtown Albany Commercial Land

      Prime Albany location, turn-key restaurant & apartment.
      165 Madison Avenue Ext, Albany, NY 12202
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    • $450,000
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      Prime Albany Mixed-Use Building

      Historic Albany retail & apartment
      265 Pearl St, Albany, NY 12202
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    • $430,000
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      Albany Multi-Unit Brick Building

      Well-maintained 3-unit building with garage, ideal for investors.
      163 Eagle St, Albany, NY 12202
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    • $735,000
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      Prime Albany Multifamily Investment

      Eight-unit building, excellent potential
      3 Leonard Pl, Albany, NY 12202
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    • $500,000
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      Renovated Mixed-Use Building with Restaurant

      Renovated mixed-use property with turn-key restaurant and apartment.
      165 Madison Avenue Ext, Albany, NY 12202
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    • New
      $159,900
      1,800 SF

      Albany Brick Two-Family Home

      Two-family home with long-term tenants and revitalization potential.
      31 3Rd Ave, Albany, NY 12202
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    Similar Nearby for Sale

    • $600,000
      0.10 Acres

      Downtown Albany Commercial Land

      Prime Albany location, turn-key restaurant & apartment.
      165 Madison Avenue Ext, Albany, NY 12202
      View Details
    • $450,000
      2,320 SF

      Prime Albany Mixed-Use Building

      Historic Albany retail & apartment
      265 Pearl St, Albany, NY 12202
      View Details
    • $430,000
      Pending

      Albany Multi-Unit Brick Building

      Well-maintained 3-unit building with garage, ideal for investors.
      163 Eagle St, Albany, NY 12202
      View Details
    • $735,000
      5,750 SF

      Prime Albany Multifamily Investment

      Eight-unit building, excellent potential
      3 Leonard Pl, Albany, NY 12202
      View Details
    • $500,000
      3,272 SF

      Renovated Mixed-Use Building with Restaurant

      Renovated mixed-use property with turn-key restaurant and apartment.
      165 Madison Avenue Ext, Albany, NY 12202
      View Details
    • $535,000

      Renovated Mixed-Use Building with Restaurant

      Downtown Albany mixed-use building featuring a turn-key restaurant and apartment.
      165 Madison Ave, Albany, NY 12202
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    Similar Nearby for Lease

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      20,000 SF

      Four-Story Warehouse with Unloading Ramp

      Four-story warehouse with unloading ramp, large open area.
      340 Church St, Albany, NY 12202
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    • $1,900 /Mo
      2,576 SF

      Restaurant Ready for New Owner

      First floor restaurant space ready for immediate operation.
      263 S Pearl St, Albany, NY 12202
      View Details
    • $9 SF/Yr
      25,200 SF

      Warehouse/Distribution Facility with Expansion Potential

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    • $9 SF/Yr
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      Warehouse/Manufacturing Facility with IOS

      25,200 SF warehouse/manufacturing facility with industrial outdoor storage.
      229 Church St, Albany, NY 12202
      View Details
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    263 Pearl St
    Albany, NY 12202
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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