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Listed by: Houlihan Lawrence Inc.
$ 750,000
Est. payment /mo
Active
329 N Pearl ST Albany, NY 12207
1.5 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20265581
Annual Tax Amount $45,460
Tax Year 45460
Lot Size 1.500 Acres
Acres 1.5
Property Sub-Type Unimproved Land
Source Hudson Valley Catskills Region Multiple List Service (Ulster County Board of REALTORS®)
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
Area Albany
Zoning C1
Exterior
View City, Downtown, Neighborhood
Building
Lot Description City Lot, Near Public Transit, Open Lot, Paved
Schools
High Schools Albany City School District
School District Albany City School District
