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Listed by Sage Baltrusaitis • Empire Real Estate Firm LLC
$ 699,000
Est. payment /mo
New
402 Broadway Albany, NY 12207
3,796 SqFt
UPDATED:
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
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!
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
