Mixed-Use Opportunity in Historic Albany!
Welcome to 204 Lancaster Street, a well-located mixed-use building offering flexibility and versatility. This historic property features a ground-floor retail space with strong street presence, currently operated as a tailor shop, and suitable for a wide variety of commercial uses. Above the storefront are two residential apartments. Situated in a vibrant Albany neighborhood with steady foot and vehicle traffic, this property is ideal for investors or owner-occupants seeking a combination of commercial and residential use.
The property has seen significant recent capital improvements totaling over $25,000, including a new commercial central air conditioning system, a new rubber roof, and a brand new hot water tank -- providing buyers with peace of mind and minimal near-term capital expenditure requirements.
A unique opportunity to own a versatile, well-maintained building in one of Albany's established corridors. Tailor inventory can be purchased separately or included with the sale of the property.
Active
Price cut: $50K (7/15)
$599,000
204 Lancaster Street, Albany, NY 12201
2beds
4,123sqft
Triplex, Multi Family
Built in 1930
-- sqft lot
$574,500 Zestimate®
$145/sqft
$-- HOA
What's special
New rubber roofTwo residential apartments
- 177 days
- 352
- 11
Zillow last checked:
Listing updated:
Listed by:
Hanna Commercial 518-458-7000,
Philip Sabatino 518-376-2717
Source: Global MLS,MLS#: 202612819
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 5
- Full bathrooms: 2
- 1/2 bathrooms: 3
Heating
- Natural Gas
Cooling
- Central Air
Features
- High Speed Internet, Tray Ceiling(s), Walk-In Closet(s), Built-in Features, Crown Molding
- Flooring: Wood
- Windows: Wood Frames
- Basement: Partial
Interior area
- Total structure area: 4,123
- Total interior livable area: 4,123 sqft
- Finished area above ground: 4,123
- Finished area below ground: 0
Video & virtual tour
Property
Features
- Exterior features: None
- Fencing: None
- Has view: Yes
- View description: Downtown
Lot
- Size: 1,742 Square Feet
Details
- Parcel number: 010100 76.23311
- Zoning description: Mixed
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Traditional
- Property subtype: Triplex, Multi Family
- Attached to another structure: Yes
Materials
- Brick
- Foundation: Concrete Perimeter
- Roof: Rubber
Condition
- Year built: 1930
Utilities & green energy
- Electric: 150 Amp Service
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Security: 24 Hour Security, Carbon Monoxide Detector(s), Fire Alarm
HOA
- Has HOA: No
Location
- Region: Albany
Financial & listing details
- Price per square foot: $145/sqft
- Tax assessed value: $337,500
- Annual tax amount: $9,882
- Date on market: 3/5/2026
- Tenant pays: Heat, Electricity
Estimated market value
$574,500
$546,000 - $603,000
$1,762/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/15/2026 | Price change | $599,000-7.7%$145/sqft |
Source:  Global MLS #202612819 Report a problem | ||
| 3/5/2026 | Listed for sale | $649,000$157/sqft |
Source: Global MLS #202612819 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | -- | $324,000 |
| 2024 | -- | $324,000 +35% |
| 2023 | -- | $240,000 |
| 2022 | -- | $240,000 |
| 2021 | -- | $240,000 |
| 2020 | -- | $240,000 |
| 2019 | -- | $240,000 |
| 2018 | -- | $240,000 |
| 2017 | $9,509 +0.2% | $240,000 |
| 2016 | $9,489 | $240,000 |
| 2015 | -- | $240,000 |
| 2014 | -- | $240,000 |
Find assessor info on the county website
Monthly payment
Climate risks
Neighborhood: Center Square
Nearby schools
Schools provided by the listing agent
- High: Albany
Source: Global MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
Similar homes
- $600,0003 bd4 ba4.4k sqft149 Lancaster Street, Albany, NY 12210Active
MLS ID #202619080, John Alund, Listing by: Lincoln House Realty. Global MLS - $589,0005 bd3 ba3.1k sqft140 Chestnut Street, Albany, NY 12210Active
MLS ID #202616473, Eileen L Faist, Listing by: Old Albany Real Estate LLC. Global MLS - $445,0004 bd3 ba2.2k sqft339 Hamilton Street, Albany, NY 12210Active
MLS ID #202621173, Stela Koeva, Listing by: Real Broker NY LLC. Global MLS - $435,0005 bd4 ba2.5k sqft138 Lancaster Street, Albany, NY 12210Active
MLS ID #202614240, Kyle Chadwick, Listing by: Premier Homes Elite Realty LLC. Global MLS
