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402 Broadway 3,796 SF 75% Leased Retail Building Albany, NY 12207 $1,020,382 CAD ($268.80 CAD/SF) 8% Cap Rate
Executive Summary
Right in the heart of Downtown Albany, this beautiful brick commercial property is ready for its next owner! This is a true powerhouse investment, offering a prime commercial storefront with two display windows and three rented residential units above. Currently producing $4,250/month with a full rent potential of $6k+/month, this building sits at a solid 8.5% cap rate and is priced to move. The possibilities for the commercial space are endless - previously used as a successful esthetician's salon and office space, it's a perfect canvas for a boutique, coffee shop, or creative studio. The location is unbeatable: the bus line is right outside the front door, and you're within walking distance to the SUNY building, universities, parking garages, store, restaurants, the Palace Theatre and more. Don't miss out on a turnkey opportunity in the center of the city. Schedule your showing today!
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,796 SF
Building Class
C
Year Built/Renovated
1880/2019
Price
$1,020,382 CAD
Price Per SF
$268.80 CAD
Cap Rate
8%
NOI
$81,631 CAD
Percent Leased
75%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
2.90
Lot Size
0.03 AC
Opportunity Zone
Yes
Zoning
C3 - 1st floor zoned for commercial use.
Floors 2, 3, 4 are residential.
Frontage
15’ on Broadway Aly
Amenities
- Bus Line
- Signage
Moderately walkable
60/100
Exceptionally drivable
100/100
Exceptional public transit
100/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 010100-076-042-0003-038-000-0000 | Improvements Assessment | $408,645 CAD |
| Land Assessment | $25,881 CAD | Total Assessment | $434,526 CAD |
Property Taxes
Parcel Number
010100-076-042-0003-038-000-0000
Land Assessment
$25,881 CAD
Improvements Assessment
$408,645 CAD
Total Assessment
$434,526 CAD
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402 Broadway
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