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Property profile & analytics
FOR SALE
Sports & entertainment properties
51 S Pearl St, Albany, NY 12207
Individually Owned
12-yr Hold
Free & Clear
Property ID
US63-6002951
For Sale
1 / 46
$265,000
51 S Pearl St, Albany, NY 12207
View Listing →
Property summary
AI-generated overview
This exceptional 1,330-square-foot retail space at 51 S. Pearl Street in Albany, NY, presents a unique investment opportunity. Located at the entrance to the MVP Arena, this single-tenant property benefits from significant foot traffic, estimated at 400,000 annual arena attendees. Currently configured as office space, the adaptable layout is easily converted to suit retail or food and beverage uses. The space features primarily open floor plan with a private bathroom. High visibility and excellent foot traffic are key advantages. Two dedicated parking spaces are included, supplementing the 1,000 public parking spaces in the adjacent arena garage and other nearby public parking options. The property sits on a 7.4-acre lot and is part of a larger 55,000-square-foot building constructed in 1990. Its convenient location offers easy access to major highways. The property is zoned MU-DT. The lease rate is $17 per square foot, plus $2 per square foot for common area maintenance, with utilities paid separately. This is a rare opportunity to secure a high-visibility space in a prime downtown Albany location.
Property profile
Verified
Property type
Sports & entertainment properties
Use group
STADIUM
Year built
1990
Total area
541,564 SF
Lot
7.4 ac (322,344 SF)
Zoning code
C3
APN
010100 76.11-1-14.1
UPID
US63-6002951
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
-
Albany Empire Sports Field & Court Sports School
-
Albany Auto Show Association Or Organization
-
Albany County Farmers Market Specialty Food Shop Farmer's Market
-
Executive Cleaning Services Inc General Contractor
-
Box Office at MVP Arena Event Planning
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$545k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$545k
Owner & transaction history
Albany Convention Center Autho · 12 yrs held
Albany Convention Center Autho
since 2014
3 recorded transactions
Zoning & alternative use
C3 · Albany, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Albany submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Albany submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$545k
Range $491k – $600k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$1 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$57,348,200
Assessed 2023
Previous assessed
$57,348,200
+0.0% YoY
Assessed land
$5,817,900
Assessed improvement
$51,530,300
Land market value
$8,213,892
Improvement market value
$72,752,083
Total market value
$80,965,975
Applied tax rate
10,100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Sports & entertainment properties
Use group
STADIUM
Status
For Sale
Year built
1990
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
5
Total area
541,564 SF
Lot
7.4 ac (322,344 SF)
Zoning code
C3
APN
010100 76.11-1-14.1
UPID
US63-6002951
Jurisdiction
ALBANY
Zoning & alternative use
C3 · Albany, NY
Zoning C3 · permitted uses
C3 · Albany, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Albany. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1990
Heating
NONE
Cooling
Yes
Stories
5
Buildings
1
Lot
7.4 ac
Current owner
From public records · entity-resolved
Albany Convention Center Autho
Individual
Free & Clear · 12 yrs held
Mailing address
112 STATE ST, ALBANY, NY 12207-2004
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 8, 2014
—
Albany Convention Center Autho
County Of Albany
Quit Claim Deed
related
—
Oct 4, 2006
$12,875,000
County Of Albany
Spectra Associates
Warranty Deed
—
Mar 1, 2004
—
Spectapark Associates
Albany Co Ind Devel Agency
Warranty Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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