402 Broadway
Mixed Use | 6.88% CAP | 3,796 SqFt
Marketing description
Four-story mixed-use building in the heart of downtown Albany — fully gut-renovated in 2020 and in excellent condition. Three residential units on floors 2–4 featuring Google Smart Home technology, in-unit washer/dryers, exposed brick, and that iconic arched top-floor window with direct views of SUNY Plaza. Hallways freshly painted April 2026. This is not your typical downtown walkup — it shows.
Ground floor commercial space is currently vacant and ready for an owner-occupant or new tenant — a significant value-add opportunity in one of Albany's highest-foot-traffic corridors, directly across from SUNY Plaza with the Broadway bus stop at the front door.
The big number: approximately 15 years remaining on a 20-year Capitalize Albany tax abatement, dramatically reducing the effective tax burden and making this one of the most favorably structured deals in the downtown market right now.
Gross potential income $70,800/year. Priced at $699,000 at a 6.88% cap rate on normalized expenses. Two residential units coming available — buyer sets fresh market rents on a renovated product.
Contact The Maddalone Team at Empire Commercial for the full OM, financials, and showing.
Investment highlights
Mixed-use | 4 Stories | 3,796 SF | Gut-Renovated 2020 | Excellent Condition | Downtown Albany NY
~15 years remaining on 20-year Capitalize Albany tax abatement — dramatically reduces effective tax burden
Google Smart Home certified units | In-unit washer/dryers | Exposed brick | Iconic arched top-floor window
Ground floor commercial vacant — owner-occupant or lease-up opportunity on Broadway's highest-traffic corridor
2 residential units coming available — buyer sets fresh market rents on renovated product
Gross Potential Income: $70,800/yr | Asking Price: $699,000 | Cap Rate: 6.88%
Directly across from SUNY Plaza | Broadway bus stop at front door | Steps to Capitol, Empire State Plaza, MVP Arena
Property and school taxes paid current | No mortgages on record | Parcel ID 76.42-3-38
Hallways freshly painted April 2026 | Condition rated Excellent | Effective year 2019
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
