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Listed by Anthony D'Argenzio • Houlihan Lawrence Inc
$ 750,000
Est. payment | /mo
1.5 Acres Lot
$ 750,000
Est. payment | /mo
1.5 Acres Lot
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 202626636
HOA Y/N No
Annual Tax Amount $45,460
Lot Size 1.500 Acres
Acres 1.5
Property Sub-Type Mixed Use
Source Global MLS
Property Description
Introducing 329 North Pearl Street, a prime income-generating, 1.5-acre parcel in downtown Albany's Central Business District, currently leased to Capital Repertory Theatre (theREP) for use as a parking lot. The property is being offered at a price significantly below its most recent assessment, with further development potential awaiting a new owner. With C-3 zoning, the city's broadest commercial designation, the site could support a range of development including large-scale retail, professional offices, hotel, and restaurant.
The location is one of its strongest assets. The site sits directly across the street from a midsize residential development, in a growing mixed-use pocket of downtown that blends cultural destinations, established businesses, and new residential construction, a combination that makes this a prime opportunity in the heart of Albany.
•1.5 acres in downtown Albany's C-3 Central Business District, fronting North Pearl Street
•Currently leased to Capital Repertory Theatre (theREP) for use as a parking lot, generating monthly income
•Lease expires 2035
•451 feet of frontage along North Pearl Street
•282 feet of frontage along Colonie Street
•C-3 (Central Business District) zoning, Albany's widest commercial-use designation
•Paved, 44-space surface parking lot on the developed portion of the site, with the balance held as wooded, undeveloped land.
•Direct access to I-787 and Route 9 via the Clinton Avenue and Livingston Avenue exits; CDTA bus routes and Albany-Rensselaer Amtrak station nearby
•Rezoned from C-1 to C-3 by the City of Albany in 2002
The location is one of its strongest assets. The site sits directly across the street from a midsize residential development, in a growing mixed-use pocket of downtown that blends cultural destinations, established businesses, and new residential construction, a combination that makes this a prime opportunity in the heart of Albany.
•1.5 acres in downtown Albany's C-3 Central Business District, fronting North Pearl Street
•Currently leased to Capital Repertory Theatre (theREP) for use as a parking lot, generating monthly income
•Lease expires 2035
•451 feet of frontage along North Pearl Street
•282 feet of frontage along Colonie Street
•C-3 (Central Business District) zoning, Albany's widest commercial-use designation
•Paved, 44-space surface parking lot on the developed portion of the site, with the balance held as wooded, undeveloped land.
•Direct access to I-787 and Route 9 via the Clinton Avenue and Livingston Avenue exits; CDTA bus routes and Albany-Rensselaer Amtrak station nearby
•Rezoned from C-1 to C-3 by the City of Albany in 2002
Location
State NY
County Albany
Direction Take NY-5, Broadway and N Pearl St to your destination
Building
Sewer None
Water None
Schools
School District Albany
Others
Tax ID 010100 65.75-1-1
Special Listing Condition Standard
Nearby Locations
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