$329,000

427 S Pearl Street, Albany, NY 12202

  • 4 beds |
  • 4 baths |
  • 5,760 sqft
  • Property Icon Triplex
  • Property Year Built Icon Built in 1880
  • Property Lot Size Icon1,742sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $57/sqft
  • Property List Date Icon Listed 17 days ago

Property 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!!!!

Listing Status:
Active
Date Added:
June 17, 2026
Data Last Updated:
July 4, 2026 at 10:39PM
Listing Office:
Howard Hanna Capital Inc : 518-489-1000
Listing Agent:
Victoria McLaughlin : 518-429-7484
MLS ID:
202619848
  • General: Chair Rail
  • Basement: UnfinishedPartial
  • Flooring: LaminateCeramic Tile
  • A/C: Central AirWindow Unit(s)
  • Heating: Electric
  • Disability Feature: Accessible Hallway(s)Accessible SidewalksAccessible Full Bath
  • Parking: Off StreetParking spaces: 0
  • Roofing: RubberAsphalt
  • General: Brick
  • Originating MLS: Global MLS
  • School District: Albany
  • County: Albany
  • Zoning: Mixed010100 76.73-3-35
  • Water: Public
  • Sewer: Public Sewer
  • Source: Global MLS

This listing courtesy of Victoria McLaughlin , Howard Hanna Capital Inc

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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