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Listed by Sage Baltrusaitis • Empire Real Estate Firm LLC

$ 625,000

Est. payment -/mo

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Active

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 $164

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!

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

Samantha Kettlewood

NYS Licensed Real Estate Salesperson

+1(518) 810-9013 | sam@empirerealestatefirm.com

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