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5 Apartments and 2 Retial Spaces 82 N Pearl St 5 Unit Apartment Building $1,190,000 ($238,000/Unit) 5.99% Cap Rate Albany, NY 12207

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Investment Highlights

Iconic Downtown Albany Investment Opportunity!
Five fully leased market-rate apartments and two high-visibility retail storefronts

Originally constructed in 1850 and thoughtfully renovated in 2020

Executive Summary

Iconic Downtown Albany Investment Opportunity! Discover +/-10,085 SF of prime mixed-use space at the bustling corner of North Pearl & Columbia Streets. This fully leased four-story historic building—originally constructed in 1850 and thoughtfully renovated in 2020— features five market-rate apartments and two high-visibility retail storefronts. Zoned MU-DT, the property offers excellent exposure and foot traffic in Albany's vibrant downtown district. Includes a passenger elevator and strong rental history. Offered at $1,190,000 ($118/SF), this is a turnkey asset ideal for investors seeking value, stability, and upside potential in a dynamic urban market.

Property Facts

Price	$1,190,000	Building Class	C
Price Per Unit	$238,000	Lot Size	0.07 AC
Sale Type	Investment	Building Size	11,479 SF
Cap Rate	5.99%	Average Occupancy	85%
No. Units	5	No. Stories	4
Property Type	Multifamily	Year Built/Renovated	1820/2020
Property Subtype	Apartment General Retail Storefront Retail/Residential Office Office Residential	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Mid-Rise
Zoning	C3 - MU-DT

Price	$1,190,000
Price Per Unit	$238,000
Sale Type	Investment
Cap Rate	5.99%
No. Units	5
Property Type	Multifamily
Property Subtype	Apartment General Retail Storefront Retail/Residential Office Office Residential
Apartment Style	Mid-Rise
Building Class	C
Lot Size	0.07 AC
Building Size	11,479 SF
Average Occupancy	85%
No. Stories	4
Year Built/Renovated	1820/2020
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	C3 - MU-DT