285 Washington AveAlbany, NY 12206

Property Details for 285 Washington Ave

Year built

1900

Lot size

0.08 AC

Property size (Sq ft)

5,772 SF

Zone code

R2B

Property type

Investment properties

Property subtype

Live-work space

APN

010100 65.71-3-37

APU

101006571337

Description

This exceptional retail opportunity presents two street-level spaces for lease, immediately available, in Albany's vibrant Center Square neighborhood. Located on Washington Avenue, these spaces are situated on the ground floor of a five-unit apartment building, offering high visibility and foot traffic. The spaces range from 700 to 1400 square feet, providing flexibility for a variety of businesses. Previously occupied by a salon and a tattoo parlor, the larger space (1400 sq ft) even retains existing salon and shampoo stations, representing a significant cost saving for a suitable tenant. The convenient location offers easy access to a wealth of amenities, including numerous restaurants, bars, and shopping options, all within walking distance. Furthermore, Washington Park is just steps away, adding to the property's appeal. The asking rent is inclusive of all utility costs, minimizing operational expenses for the tenant. This is a rare opportunity to establish a business in a thriving, well-connected neighborhood with high pedestrian traffic. The property's Class C designation and single-tenant occupancy further enhance its appeal. The Assessor's Parcel Number (APN) is 65.71-3-37. Don't miss out on this chance to secure a prime retail location in Albany's desirable Center Square.

• CAP approach

  CAP return

  Valuation

  6%

  $1,433,854

  6.5%

  $1,323,558

  7%

  $1,229,018

• Comparable approach

  Method

  Valuation

  Relative Method

  $759,239

  Geo Method

  $754,170

• Alternative Use

  Use

  Valuation

  Residential

  $1,641,212

  Hospitality

  $1,503,341

  Educational

  $1,250,762

  Medical

  $1,293,778

  Retail

  $1,945,630

Location Insight

City

Albany

County

Albany

State

New York

Latitude

42.6587

Longitude

-73.7664

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].