Prime mixed-use investment opportunity in the heart of Downtown Albany! Located at 165 Madison Avenue, Albany, NY, just steps from the New York State Capitol and minutes from MVP Arena, this beautifully renovated 3,272 sq ft brick building offers exceptional visibility and long-term income potential in one of the city's most rapidly revitalizing corridors.
Fully renovated in 2022 with high-end finishes, this two-story mixed-use property features a turn-key restaurant space on the first floor with approximately 2,022 sq ft of retail/dining area, complete with a full commercial kitchen, 6-burner stove, commercial exhaust hood, dedicated employee and customer restrooms, dining area with entertainment stage, and both front and rear entrances. Ideal for owner-operators or investors seeking a ready-to-run restaurant, tavern, café, or retail concept.
The second floor includes a turn-key 2-bedroom apartment with strong rental potential, estimated at $2,000/month, providing additional income and flexibility for owner occupancy or leasing.Situated in a high-demand downtown corridor near the Capitol district, with major revitalization projects underway in surrounding buildings, this property offers both immediate usability and strong future appreciation potential.
Perfect for owner-users, restaurateurs, or mixed-use investors seeking a strategic Albany location with built-in income and strong growth prospects.
Financials available with signed NDA. Showings by appointment only with 24-hour notice. Qualified buyers and proof of funds required.
| Listing Id: | 202626017 |
|---|---|
| List Price: | $625,000 |
| Property Type: | Commercial Sale |
| Property Sub Type: | Business |
| Status: | Active |
| Bathrooms Full: | 3 |
| Living Area: | 3,272 |
| Tax Annual Amount: | $5,563 |
| Lot Size Square Feet: | 4,148.0 |
| Lot Size Acres: | 0.1 |
| Waterfront?: | No |
| City: | Albany |
| County Or Parish: | Albany |
| Postal Code: | 12202 |
| Year Built: | 1890 |
| List Agent Full Name: | Joseph P Cardinale |
| Cooling: | Central Air, Window Unit(s) |
| Exterior Features: | None |
| Elementary School: | Giffen Memorial |
| Lot Size Units: | Acres |
| Accessibility Features: | Accessible Doors, Accessible Full Bath, Accessible Kitchen |
| Heating?: | Yes |
| Bathrooms Total Integer: | 3 |
| Cooling?: | Yes |
| Basement: | true |
| Basement: | Full |
| State Or Province: | NY |
| Lot Features: | Cleared, Level, Private |
| Special Listing Conditions: | Standard |
| Building Area Total: | 3,272.0 |
| Stories: | 2 |
| Sewer: | Public Sewer |
| Lot Size Dimensions: | 34.8*122.3 |
| Electric: | 200+ Amp Service, 220 Volts |
| Association Amenities: | None |
| High School: | Albany |
| Roof: | Flat |
| Postal Code Plus4: | 1760 |
| Lot Size Area: | 0.1 |
| Possible Use: | Apartment Plus, Business, Mixed Use, Office, Office Plus, Office/Retail, Restaurant, Retail, Tavern, Tavern Plus, Convenience Store |
| Parking Features: | Off Street, Paved, Private |
| Current Use: | Mixed Use, Restaurant |
| Zoning: | Mixed |
| Documents Change Timestamp: | 2026-09-12T16:43:36Z |
| Heating: | Forced Air |
| Directions: | 787 to Madison Ave Exit. On Madison Between Grand and Phillip St. on the right |
| Flooring: | Concrete, Tile |
| Business Type: | Restaurant |
| Listing Contract Date: | 2026-09-11 |
| Parcel Number: | 76.49-2-53 |
| List Agent Key: | 20211012215240393433000000 |
| Construction Materials: | Wood Siding, Brick |
| Parking Total: | 6 |
| Water Source: | Public |
| High School District: | Albany |
| Security Features: | Carbon Monoxide Detector(s), Smoke Detector(s) |
| Year Established: | 2022 |
| Tenant Pays: | DSL Internet, Gas, Internet, Snow Removal, Cable TV, Central Air, Electricity, Parking Fee, Heat, FIOS Internet, Hot Water |
| Postal City: | Albany |
| Original List Price: | $625,000 |
| Possession: | At Closing |
| Cross Street: | Phillip st |
| Bathrooms Total Decimal: | $3.00 |
| Contract Information Lease Considered: | No |
| Contract Information List Price Sq Ft: | $191.01 |
| Contract Information List Price Acres: | $6,250,000.00 |
| Property Detail Parking Yn: | Yes |
| Property Detail Building Available Sqft: | $3,272.00 |
| Property Detail Main Road Frontage: | $34.00 |
| Property Detail Enhanced Accessible Yn2: | Yes |
| Parcel Tax Hoa Total Taxes Description: | Actual |
| Financial Details General Taxes: | $5,599.32 |
| Financial Details General Taxes Description: | Actual |
| Financial Details School Taxes: | $7,351.75 |
| Financial Details School Taxes Description: | Actual |
| Financial Details Seller Financing2: | No |
| Building Detail Fire Sprinkler System Yn: | No |
| Building Detail Railroad Siding Yn: | No |
| Building Detail Office Ceiling Height: | $10.00 |
| Building Detail Retail Total Sqft: | $2,022.00 |
| Building Detail Retail Available Sqft: | $2,202.00 |
| Building Detail Retail Ceiling Height: | $10.00 |
| Number Of Buildings: | 1 |
| Inclusions: | Business & Building, Building & Land |
| Approval Status: | Yes |
| Photos - the contractual owner of the photos Photo Owner 3: | Combination Ownership |
| Architectural Style: | Apartments, Restaurant |
| Exterior Features: | None |
Listing Courtesy of: Howard Hanna Capital Inc
Listing Agent: Joseph P Cardinale
518-755-2064
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Data last updated October 08, 2026 05:02 PM - ET.
Property Last Updated: October 08, 2026 05:02 PM - ET
