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Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 3,796 sqft
Price per Sqft $184
MLS Listing ID 202622020
HOA Y/N No
Annual Tax Amount $5,926
Lot Size 1,209 Sqft
Acres 0.03
Lot Dimensions 13x93
Property Sub-Type Mixed Use
Source Global MLS
Property Description
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!
Location
State NY
County Albany
Zoning Mixed
Direction 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.
Interior
Heating Forced Air
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 010100 76.42-3-38
Nearby School & Business
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Erin Steinbach
Lic. Associate R. E. Broker | License ID: 10301217507
Lic. Associate R. E. Broker License ID: 10301217507