427 S Pearl Street, Albany, NY 12202

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/yearApts: $2,700/mo = $32,400/yearTotal Gross = $50,400/yearExpenses:Taxes: $9,963Insurance: $2,568Water/Sewer: ~$675Total Expenses ≈ $13,206NOI (Net Operating Income):$50,400 - $13,206 = $37,194CAP Rate (Current): *11.3%*11%+ cap rate, built-in income, and serious upside...this is the deal investors wait for!!!!