54 James Street

Description

Positioned directly across from Tricentennial Park, 54 James Street offers a standout opportunity to own a mixed-use property in one of downtown Albany's most walkable and amenity-rich corridors. The street-level commercial space benefits from prime visibility, steady pedestrian traffic, and picturesque park views--an ideal setting for retail, office, or service use. The current commercial tenant is flexible and may remain under a new lease, negotiate the sale of the business or equipment, or relocate should an owner-occupant wish to utilize the space. Upstairs, a one-bedroom apartment is leased through August 2026, delivering dependable income from day one. Importantly, current rents are below market, presenting a clear value-add opportunity for future rent increases and improved cash flow. The apartment could also serve as a private office or live/work space, adding versatility to the property's income profile. The roof was replaced in August 2020. Occupants enjoy immediate access to downtown offices, restaurants, entertainment venues, public transit, and year-round events at the park directly across the street. Offered AS-IS, with buyers to perform their own due diligence. Whether you are an investor seeking rental upside or an owner-occupant looking for a high-visibility location with supplemental income, 54 James Street presents a compelling opportunity in the heart of Albany. Showings by appointment only. Please do not disturb tenants.