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288 Lark St
3,647 SF 100% Leased Retail Building Albany, NY 12210 $1,399,000 ($384/SF) 7% Cap Rate
Investment Highlights
- Fantastic opportunity to purchase historic 288 Lark Wine & Tap Room. Also included in sale 2 luxury brand new apartments w/ separate utilities.
- Property completely renovated and historically preserved in 2019. Can include package deal for 100 seat full service restaurant at next door.
- Relax at the state of the art bar w/ total seating capacity of 35 inside & 25 outside on gorgeous paved patio in the back.
- Located a block away from the State Capitol & Government Buildings.
- Sale includes, building, business & all FF&E. New built in 2019 w/ brand new equipment & furniture. Full liquor license. High foot traffic.
- Sound & security camera system in place. Owner would consider owner's financing or a lease for qualified tenant. Listing Agent is the owner.
Executive Summary
Financial Summary (Actual - 2022) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2022) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Amenities
- Bus Line
- Signage
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Looking for a wine bar, sushi restaurant, or tapas restaurant operator! Would be a great tasting room or bar/tavern! 1,500 square foot, fully furnished wine bar/tavern called The 288 Lark with patio seating is available for lease for a qualified operator at $4,000 per month with a 1 year security deposit. www.288lark.com. Wine-Bar Restaurant required for Purchase at 150,000.0 for the existing business. Has an open kitchen concept and patio, but does not have a hooded exhaust system.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 1,500 SF | Restaurant | In-Line | 120 Days |
1st Floor
| Size |
| 1,500 SF |
| Space Use |
| Restaurant |
| Position |
| In-Line |
| Available |
| 120 Days |
1st Floor
| Size | 1,500 SF |
| Space Use | Restaurant |
| Position | In-Line |
| Available | 120 Days |
Looking for a wine bar, sushi restaurant, or tapas restaurant operator! Would be a great tasting room or bar/tavern! 1,500 square foot, fully furnished wine bar/tavern called The 288 Lark with patio seating is available for lease for a qualified operator at $4,000 per month with a 1 year security deposit. www.288lark.com. Wine-Bar Restaurant required for Purchase at 150,000.0 for the existing business. Has an open kitchen concept and patio, but does not have a hooded exhaust system.
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 010100 76.31-2-75.2 | Total Assessment | $247,800 (2023) |
| Land Assessment | $24,900 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $222,900 (2023) | Tax Year | 2022 |
PROPERTY TAXES
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288 Lark St
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