204 Lancaster St 4,123 SF Retail Building Albany, NY 12210 $649,000 ($157.41/SF)

Mixed-Use Opportunity in Historic Albany!
Mixed-Use Opportunity in Historic Albany | 204 Lancaster Street
Welcome to 204 Lancaster Street — a strategically positioned mixed-use building in the heart of one of Albany's most established and sought-after corridors. This historic property delivers the rare combination of commercial visibility and residential income, making it an exceptional opportunity for investors and owner-occupants alike.
The ground-floor retail space boasts strong street presence and is currently operating as a tailor shop, with a layout and configuration suitable for a wide range of commercial uses — retail, professional office, personal services, and more. The built-in flexibility of the space makes it an attractive option for a variety of tenants or an owner looking to run their own business from a highly visible location.
Above the storefront, the property features two residential apartments, providing immediate income potential and long-term investment value. Whether you are looking to offset your mortgage with rental income or build a diversified real estate portfolio, the residential component adds significant depth to this opportunity.
The property has undergone meaningful capital investment, with over $25,000 in recent improvements including a new commercial central air conditioning system, a new rubber roof, and a brand new hot water tank. These upgrades deliver lasting value, reduce near-term maintenance costs, and give buyers true peace of mind from day one.
Located in a vibrant Albany neighborhood with consistent foot and vehicle traffic, 204 Lancaster Street offers excellent accessibility and exposure. The surrounding area supports a healthy mix of dining, retail, and professional services — creating a built-in customer base for any commercial operator.
Tailor inventory is available for separate purchase or can be negotiated as part of the overall sale, offering an additional avenue for the right buyer to hit the ground running.
This is a rare chance to own a well-maintained, income-producing mixed-use asset in a proven Albany location. Opportunities like this don't last — schedule your showing today.