Four-story mixed-use building in the heart of downtown Albany -- fully gut-renovated in 2020 and in excellent condition. Three residential units on floors 2-4 featuring Google Smart Home technology, in-unit washer/dryers, exposed brick, and that iconic arched top-floor window with direct views of SUNY Plaza. Hallways freshly painted April 2026. This is not your typical downtown walkup and it shows.
Ground floor commercial space is currently vacant and ready for an owner-occupant or new tenant -- a significant value-add opportunity in one of Albany's highest-foot-traffic corridors, directly across from SUNY Plaza with the Broadway bus stop at the front door.
The big number: approximately 15 years remaining on a 20-year Capitalize Albany tax abatement, dramatically reducing the effective tax burden and making this one of the most favorably structured deals in the downtown market right now.
Gross potential income $70,800/year. Priced at $699,000 at a 6.88% cap rate on normalized expenses. Two residential units coming available -- buyer sets fresh market rents on a renovated product.
Full OM and financials available upon request!
| Listing Id: | 202622020 |
|---|---|
| List Price: | $699,000 |
| Property Type: | Commercial Sale |
| Property Sub Type: | Mixed Use |
| Status: | Active |
| Living Area: | 3,796 |
| Tax Annual Amount: | $5,926 |
| Lot Size Square Feet: | 1,209.0 |
| Lot Size Acres: | 0.03 |
| Waterfront?: | No |
| City: | Albany |
| County Or Parish: | Albany |
| Postal Code: | 12207 |
| List Agent Full Name: | Sage Baltrusaitis |
| Co List Agent Full Name: | Christopher Maddalone |
| Cooling: | Central Air |
| Lot Size Units: | Acres |
| Heating?: | Yes |
| Cooling?: | Yes |
| Basement: | false |
| State Or Province: | NY |
| Building Area Total: | 3,796.0 |
| Stories: | 4 |
| Sewer: | Public Sewer |
| Lot Size Dimensions: | 13x93 |
| Association Amenities: | None |
| Lot Size Area: | 0.03 |
| Current Use: | Mixed Use |
| Zoning: | Mixed |
| Documents Change Timestamp: | 2026-07-18T15:20:08Z |
| Heating: | Forced Air |
| Directions: | From I-787 N: Take Exit 3 for Downtown Albany/Broadway. Turn left onto Broadway heading north -- property is on the left just past the SUNY Plaza bus stop. Can't miss it. From I-90 E: Take Exit 1N toward Albany, merge onto I-787 N and follow directions above. |
| Listing Contract Date: | 2026-07-16 |
| Parcel Number: | 010100 76.42-3-38 |
| List Agent Key: | 20211012214558391361000000 |
| Construction Materials: | Brick |
| Water Source: | Public |
| Co List Office Key: | 20211012213958380210000000 |
| Co List Agent Key: | 20211012220437548661000000 |
| Postal City: | Albany |
| Original List Price: | $699,000 |
| Contract Information List Price Sq Ft: | $184.14 |
| Contract Information List Price Acres: | $23,300,000.00 |
| Property Detail Parking Yn: | No |
| Property Detail Enhanced Accessible Yn2: | No |
| Parcel Tax Hoa Total Taxes Description: | Actual |
| Building Detail Fire Sprinkler System Yn: | Yes |
| Number Of Buildings: | 1 |
| Approval Status: | Yes |
| Photos - the contractual owner of the photos Photo Owner 3: | Broker |
| Architectural Style: | Mixed Use |
Listing Courtesy of: Empire Real Estate Firm LLC
Listing Agent: Sage Baltrusaitis
248-506-0477
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Data last updated October 08, 2026 04:55 PM - ET.
Property Last Updated: October 08, 2026 04:55 PM - ET
