427 S Pearl Street, Albany, NY - Mixed Use For Sale
Opportunity meets character at 427 S Pearl St, a fully remodeled mixed-use building featuring one of Albany's last historic bar spaces plus two income-producing apartments. The commercial space offers a renovated bar/lounge with custom bar, dining area, kitchen, office, and two bathrooms (one ADA). Restaurant equipment included! Updated systems, USB outlets, and new high-efficiency gas heater (2025). Currently generating $1,500/month with upside to ~$2,000 with liquor license.Upstairs are two 2-bedroom apartments, both occupied (month-to-month) at $1,300 and $1,400. Improvements include roof (2018), electrical (2023), sewer line (2024), PEX plumbing, and newer hot water tanks. Tenants pay utilities. Gross: $50,400/year | Expenses: ~$13,206 | NOI: ~$37,194 | 11%+ cap rate.
Property Details
- Sale/Lease: Sale
- MLS#: 202600429
- Major Use: Mixed Use
- Subuse: Mixed Use
- Available: 5,760 +/-SF
- Price: $329,000
