$575,000
Albany, NY 12202
MLS# 202613128
3 baths | 3272 sqft
1 / 56
Property Description
Prime mixed-use investment opportunity in the heart of Downtown Albany! Located at 165 Madison Avenue, Albany, NY, just steps from the New York State Capitol and minutes from MVP Arena, this beautifully renovated 3,272 sq ft brick building offers exceptional visibility and long-term income potential in one of the city's most rapidly revitalizing corridors. Fully renovated in 2022 with high-end finishes, this two-story mixed-use property features a turn-key restaurant space on the first floor with approximately 2,022 sq ft of retail/dining area, complete with a full commercial kitchen, 6-burner stove, commercial exhaust hood, dedicated employee and customer restrooms, dining area with entertainment stage, and both front and rear entrances. Ideal for owner-operators or investors seeking a ready-to-run restaurant, tavern, café, or retail concept. The second floor includes a turn-key 2-bedroom apartment with strong rental potential, estimated at $2,000/month, providing additional income and flexibility for owner occupancy or leasing.Situated in a high-demand downtown corridor near the Capitol district, with major revitalization projects underway in surrounding buildings, this property offers both immediate usability and strong future appreciation potential. Perfect for owner-users, restaurateurs, or mixed-use investors seeking a strategic Albany location with built-in income and strong growth prospects. Financials available with signed NDA. Showings by appointment only with 24-hour notice. Qualified buyers and proof of funds required.
Details
Maps
Documents
Contract Information
Original List Price: 625000
Lease Considered: No
List Price/SqFt: 175.73
List Price/Acres: 5750000
Status: Active
Property Sub Type: Mixed Use
List Price: $575,000
Listing Contract Date: 2026-03-11
Current Price: $575,000
Location
Postal Code +4: 1760
City/Town (Mail): Albany
Cross Street: Phillip st
Street Number: 165
Street Name: Madison
Street Suffix: Avenue
County: Albany
State/Province: NY
Postal Code: 12202
Geo Lat: 42.646789
Geo Lon: -73.757212
Property Detail
Year Established: 2022
Stories: 2
Number Of Buildings: 1
Parking Y/N: Yes
Lot Size Square Feet: 4148
Zoning: Mixed
Lot Size Dimensions: 34.8*122.3
Lot Size Acres: 0.1
Building Area Total: 3272
Building Available SQFT: 3272
Main Road Frontage: 34
Waterfront Y/N: No
Enhanced Accessible Y/N: Yes
Land Lease Y/N: No
Year Built: 1890
Bathrooms Total: 3
Parcel, Tax, HOA
New Construction Y/N: No
Parcel Number: 010100 76.49-2-53
Tax Annual Amount: 5562.59
Tax Section: 76.49
Total Taxes Description: Actual
Tax Block: 2
Tax Lot: 53.000
School District: Albany
Elementary School: Giffen Memorial
High School: Albany
Association Y/N: No
Directions & Remarks
Directions: 787 to Madison Ave Exit. On Madison Between Grand and Phillip St. on the right
Public Remarks: Prime mixed-use investment opportunity in the heart of Downtown Albany! Located at 165 Madison Avenue, Albany, NY, just steps from the New York State Capitol and minutes from MVP Arena, this beautifully renovated 3,272 sq ft brick building offers exceptional visibility and long-term income potential in one of the city's most rapidly revitalizing corridors.
Fully renovated in 2022 with high-end finishes, this two-story mixed-use property features a turn-key restaurant space on the first floor with approximately 2,022 sq ft of retail/dining area, complete with a full commercial kitchen, 6-burner stove, commercial exhaust hood, dedicated employee and customer restrooms, dining area with entertainment stage, and both front and rear entrances. Ideal for owner-operators or investors seeking a ready-to-run restaurant, tavern, café, or retail concept.
The second floor includes a turn-key 2-bedroom apartment with strong rental potential, estimated at $2,000/month, providing additional income and flexibility for owner occupancy or leasing.Situated in a high-demand downtown corridor near the Capitol district, with major revitalization projects underway in surrounding buildings, this property offers both immediate usability and strong future appreciation potential.
Perfect for owner-users, restaurateurs, or mixed-use investors seeking a strategic Albany location with built-in income and strong growth prospects.
Financials available with signed NDA. Showings by appointment only with 24-hour notice. Qualified buyers and proof of funds required.
Sewer
Public Sewer: 1
Accessibility Features
Accessible Doors: 1
Accessible Full Bath: 1
Accessible Kitchen: 1
Association Amenities
None: 1
Current Use
Mixed Use: 1
Restaurant: 1
Architectural Style
Apartments: 1
Restaurant: 1
Electric
200+ Amp Service: 1
220 Volts: 1
Financial Details
General Taxes: 5599.32
General Taxes Description: Actual
School Taxes: 7351.75
School Taxes Description: Actual
Seller Financing: No
Cooling
Central Air: 1
Window Unit(s): 1
Basement
Full: 1
Lot Features
Cleared: 1
Level: 1
Private: 1
Building Detail
Fire Sprinkler System Y/N: No
Railroad Siding Y/N: No
Office Ceiling Height: 10
Retail Total SQFT: 2022
Retail Available SQFT: 2202
Retail Ceiling Height: 10
Construction Materials
Brick: 1
Wood Siding: 1
Photos - the contractual owner of the photos
Photo Owner: Combination Ownership
Possession
At Closing: 1
Business Type
Restaurant: 1
Exterior Features
None: 1
Flooring
Concrete: 1
Tile: 1
Showing Requirements
24 Hour Notice: 1
Call Listing Agent: 1
Lockbox: 1
Occupied: 1
Special Listing Conditions
Standard: 1
Roof
Flat: 1
Water Source
Public: 1
Heating
Forced Air: 1
Natural Gas: 1
Parking Features
Parking Total: 6
Off Street: 1
Paved: 1
Private: 1
Possible Use
Apartment Plus: 1
Business: 1
Mixed: 1
Office: 1
Office Plus: 1
Office/Retail: 1
Restaurant: 1
Retail: 1
Tavern: 1
Tavern Plus: 1
Convenience Store: 1
Sale Includes
Building & Land: 1
Business & Building: 1
Security Features
Carbon Monoxide Detector(s): 1
Smoke Detector(s): 1
Tenant Pays
Cable TV: 1
Central Air: 1
DSL Internet: 1
Electricity: 1
FIOS Internet: 1
Gas: 1
Heat: 1
Hot Water: 1
Internet: 1
Parking Fee: 1
Snow Removal: 1
Status Change Info
Status Change Date: 2026-03-11
Property Features
Accessibility Features: Accessible Doors; Accessible Full Bath; Accessible Kitchen
Architectural Style: Apartments; Restaurant
Association Amenities: None
Basement: Full
Construction Materials: Brick; Wood Siding
Cooling: Central Air; Window Unit(s)
Current Use: Mixed Use; Restaurant
Business Type: Restaurant
Electric: 200+ Amp Service; 220 Volts
Exterior Features: None
Flooring: Concrete; Tile
Heating: Forced Air; Natural Gas
Lot Features: Cleared; Level; Private
Parking Features: Off Street; Paved; Private
Possession: At Closing
Possible Use: Apartment Plus; Business; Mixed; Office; Office Plus; Office/Retail; Restaurant; Retail; Tavern; Tavern Plus; Convenience Store
Roof: Flat
Sale Includes: Building & Land; Business & Building
Security Features: Carbon Monoxide Detector(s); Smoke Detector(s)
Sewer: Public Sewer
Showing Requirements: 24 Hour Notice; Call Listing Agent; Lockbox; Occupied
Special Listing Conditions: Standard
Tenant Pays: Cable TV; Central Air; DSL Internet; Electricity; FIOS Internet; Gas; Heat; Hot Water; Internet; Parking Fee; Snow Removal
Water Source: Public
Offer Submission Packet 
Listing Courtesy of Howard Hanna Capital Inc
Listing Agent: Joseph P Cardinale
518-755-2064 | josephcardinale@howardhanna.com
518-755-2064 | josephcardinale@howardhanna.com
