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$ 750,000
Est. payment | /mo
1.5 Acres Lot
$ 750,000
Est. payment | /mo
1.5 Acres Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1053214
Rental Info No
Annual Tax Amount $45,460
Lot Size 1.500 Acres
Acres 1.5
Source onekey2
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 County
Interior
Fireplace No
Exterior
View Neighborhood
Building
Lot Description City Lot, Level
Sewer None
Schools
Elementary Schools Albany School Of Humanities
Middle Schools Albany High School
High Schools Albany
School District Albany
Others
Senior Community No
Special Listing Condition None
Listed by Houlihan Lawrence, Inc • Jeffries Blackerby
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Jeffrey Jimenez
Licensed Real Estate Salesperson License ID: 10401267947