427 S Pearl Street, Albany, NY 12202 (MLS# 202615449)

$329,000
427 S Pearl Street
Albany, NY 12202
MLS# 202615449
4 baths  |  5760 sqft
003-427-South-Pearl-St-Albany-NY-12202
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003-427-South-Pearl-St-Albany-NY-12202 004-427-South-Pearl-St-Albany-NY-12202 First floor restaurant First floor restaurant First floor restaurant First floor restaurant First floor restaurant First floor restaurant First floor restaurant First floor restaurant First floor restaurant First floor restaurant First floor restaurant Restaurant, ADA compliant bathroom Restaurant, 2nd bathroom Restaurant kitchen Restaurant kitchen Restaurant kitchen Restaurant kitchen Restaurant kitchen Restaurant kitchen Restaurant kitchen Restaurant kitchen Restaurant kitchen Restaurant kitchen Apartment #3 Apartment #3, bedroom #1 Apartment #3, bedroom #2 Huge closet Apartment #3, family room Apartment #3, family room Apartment #3, family room Apartment #3, family room Apartment #3, family room Apartment #3 Apartment #3, Kitchen Apartment #3, Kitchen Apartment #3, Kitchen Apartment #3, Kitchen Apartment #3, bathroom Apartment #3, bathroom Apartment #3, bathroom Apartment #2 Apartment #2 Apartment #2 Apartment #2 Apartment #2 002-427-South-Pearl-St-Albany-NY-12202 006-427-South-Pearl-St-Albany-NY-12202 007-427-South-Pearl-St-Albany-NY-12202 Floor-2 Floor-3

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!!!!

Details
Maps
Contract Information
Original List Price: 329000
List Price/SqFt: 57.12
List Price/Acres: 8225000
Status: Active
Property Sub Type: Mixed Use
List Price: $329,000
Listing Contract Date: 2026-04-20
Current Price: $329,000
Location
City/Town (Mail): Albany
Street Number: 427
Street Direction Prefix: S
Street Name: Pearl
Street Suffix: Street
County: Albany
State/Province: NY
Postal Code: 12202
Geo Lat: 42.637926
Geo Lon: -73.759414
Property Detail
Parking Y/N: No
Lot Size Square Feet: 1872
Zoning: Mixed
Lot Size Dimensions: 26.1 X 72
Lot Size Acres: 0.04
Building Area Total: 5760
Waterfront Y/N: No
Enhanced Accessible Y/N: Yes
Year Built: 1880
Bathrooms Total: 4
Parcel, Tax, HOA
New Construction Y/N: No
Parcel Number: 010100 76.73-3-35
Tax Annual Amount: 9963.85
Tax Section: 76.73
Total Taxes Description: Estimated
Tax Block: 3
Tax Lot: 35.000
School District: Albany
Elementary School: Giffen Memorial
High School: Albany
Association Y/N: No
Directions & Remarks
Directions: Get on I-90 E in Albany from Sand Creek Rd 9 min (3.2 mi)  Continue on I-90 E. Take I-787 S to Green St. Take exit 2 from I-787 S 6 min (5.4 mi)  Drive to S Pearl St 1 min (0.4 mi) 427 S Pearl St Albany, NY 12202
Public Remarks: 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!!!!
Sewer
Public Sewer: 1
Accessibility Features
Accessible Full Bath: 1
Accessible Hallway(s): 1
Accessible Sidewalks: 1
Architectural Style
Federal: 1
Financial Details
General Taxes: 4031.23
School Taxes: 5932.62
School Taxes Description: Actual
Cooling
Central Air: 1
Window Unit(s): 1
Basement
Partial: 1
Unfinished: 1
Construction Materials
Brick: 1
Photos - the contractual owner of the photos
Photo Owner: Combination Ownership
Possession
At Closing: 1
Exterior Features
Lighting: 1
Flooring
Ceramic Tile: 1
Laminate: 1
Showing Requirements
24 Hour Notice: 1
Special Listing Conditions
Standard: 1
Roof
Asphalt: 1
Rubber: 1
Water Source
Public: 1
Heating
Electric: 1
Parking Features
Parking Total: 0
Off Street: 1
Security Features
Carbon Monoxide Detector(s): 1
Smoke Detector(s): 1
Status Change Info
Status Change Date: 2026-04-20
Property Features
Accessibility Features: Accessible Full Bath; Accessible Hallway(s); Accessible Sidewalks
Architectural Style: Federal
Basement: Partial; Unfinished
Construction Materials: Brick
Cooling: Central Air; Window Unit(s)
Exterior Features: Lighting
Flooring: Ceramic Tile; Laminate
Heating: Electric
Parking Features: Off Street
Possession: At Closing
Roof: Asphalt; Rubber
Security Features: Carbon Monoxide Detector(s); Smoke Detector(s)
Sewer: Public Sewer
Showing Requirements: 24 Hour Notice
Special Listing Conditions: Standard
Water Source: Public
IDX
Listing Courtesy of Howard Hanna Capital Inc
Listing Agent: Victoria McLaughlin
518-429-7484 | victoriamclaughlin@howardhanna.com
Source MLS Verified

Information deemed reliable but not guaranteed.

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