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$1,899,000 For Sale

257-259 Lark St
Albany, NY 12210


7,808 sq ft

Commercial: Commercial - MLS# 201820920
Property Photo
1/19

Description

Over 7% Cap Rate on remarkable, one of a kind investment opportunity with fully rented building & its own parking lot. Gross rents $159, 840. Net after expenses $134, 265. Retail space under long term lease (the acclaimed Rain Restaurant) with 4 luxurious 2 bedroom apartments. Entire building 100% renovated in 2016 with high quality finishes. All tenants to remain. Common Utilities, water & sewer, trash removal & maintenance pd by 1st fl tenant. NEVER VACANT! Landlord only pays taxes.

Features

  • # of Parking Spaces: 20
  • Accessibility: Yes
  • Age: 68
  • Air Conditioning: Yes
  • City/Town - Mailing: Albany
  • Condition: Excellent
  • Construction: Masonry
  • County/Area: Albany County
  • Electric Exp Desc: Estimated
  • General Taxes: 8225
  • General Taxes Desc: Actual
  • Gross Income: 159, 840
  • Heat System: Gas Forced Air
  • Ins Exp Desc: Actual
  • Listing Office: Howard Hanna
  • Listing Status: Active
  • Locale: Lark St/Center Sq
  • Lot S Qf T: 6370
  • Management Exp Amt: Self
  • Net Op Desc: Actual
  • Net Operating Income Amt: 127, 950
  • Parking: Private
  • Parking Spaces: 20
  • Property Type: Commercial
  • Retail Total S Qf T: 3700
  • Road Frontage: 86.8'
  • Roof: Rubber
  • School Taxes: 10450
  • School Taxes Description: Actual
  • Sewer: Yes
  • Sprinklers: Yes
  • Sq.Ft.: 7808
  • Stories: 2
  • Sub Type: Commercial
  • Tenant Pays: Water, Sewer, Elec, Gas
  • Total Taxes: 18675
  • Total Taxes Description: Actual
  • Water: Municipal
  • Zip Code: 12210
  • Zoning: Commercial

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David Phaff Team
Howard Hanna Real Estate Services
Albany, NY 12205

518-456-5333
Contact Us

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David Phaff Team | 518-456-5333 | Contact Us
20 Aviation Drive - Albany, NY 12205
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