427 S Pearl St, Albany, NY

Real Estate

For Sale

Listed price in listed location currency (USD).

$329,000

040

MLS® 202615449

Key Facts
Description
Map

Key Facts

Type Mixed Use

Levels Commercial Sale

Size 5760 sqft

Garage No

HOA Fees

Taxes $9,964

Days Active 12

Approx. Age 1880

Avg. Price Per Sqft $57

MLS® Number 202615449

Property Address: 427 S Pearl St, Albany, NY, 12202-1915

Average square foot calculated using Size range provided by listing agent.

Description

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!!!!

MLS® Number202615449

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry Level

Exposure

Exterior

GarageNo

Approx. Age1880

Stories

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Apr 20, 2026List Date

$329,000List Price

Commute

Commute

Starting Address

Destination Address

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