NEW! Buy and sell safely with virtual options - Learn More
About the Listing o1057B - 33920
Opportunity meets character at 427 S Pearl St, a fully remodeled mixed-use building featuring one of Albany's last historic bar spaces paired with two income-producing apartments. The commercial space offers a fully renovated bar/lounge, complete with a stunning custom bar, dining area, kitchen, office, and one ADA-compliant bathroom and one standard bathroom, along with a mop/broom closet. RESTAURANT EQUIPMENT CONVEYS WITH THE SALE OF THE PROPERTY! With USB-integrated outlets, updated systems, and a brand-new high-efficiency gas heater (2025), this space is turnkey and ready for its next concept. Currently generating $1,500/month with upside to ~$2,000/month upon liquor license approval. Upstairs, two spacious 2-bedroom apartments feature updated layouts, large bathrooms, and strong rental history; both currently occupied (month-to-month) at $1,300 and $1,400/month. Major improvements include new roof (2018), full electrical service update (2023), new sewer line to street (2024), updated plumbing with PEX throughout, and newer hot water tanks--offering peace of mind for years to come. Tenants pay utilities, keeping operating expenses low and returns strong. Whether you're an investor seeking cash flow or an owner-user looking to operate a business while collecting residential income- this is a rare find in the City of Albany! Current Income: Bar: $1,500/mo = $18,000/year Apts: $2,700/mo = $32,400/year Total Gross = $50,400/year Expenses: Taxes: $9,963 Insurance: $2,568 Water/Sewer: ~$675 Total Expenses ≈ $13,206 NOI (Net Operating Income): $50,400 - $13,206 = $37,194 CAP Rate (Current): *11.3%* 11%+ cap rate, built-in income, and serious upside...this is the deal investors wait for!!!!
Listing Highlights
Interior Details
- Bedrooms: 0
- Bathrooms: 4 Full
- Appliances:
- Air Cond: Central Air,Window Unit(s)
- Heating: Electric
- Fireplaces:
- Floor: Ceramic Tile,Laminate
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Partial,Unfinished
- Other:
- Water: Public
Exterior Details
- Garage Capacity: N/A
- Parking Spaces: 0
- Lot Dimensions: 26.1 X 72
- Zoning: Mixed
- Roof: Rubber,Asphalt
- Others: Lighting
- Sewer: Public Sewer
- Parking Features: Off Street
Financial Details
- Tax Amount: $9,964
- Taxes w/Assessments: N/A
- Tax/Property ID: 010100 76.73-3-35
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
427 S Pearl St Albany, NY 12202
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
