Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1971-73 Western Avenue Albany, NY 12203

    View on Map
    For Lease
    $16 SF/Yr

    COMMERCIAL - Albany, NY

    Type:Office
    Lot size:
    2.68 Acres
    Added:
    Nov 25, 2025
    Days on Market:
    127
    Last Refresh:
    Apr 1 at 5:06 am

    Property Features for 1971-73 Western Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Parking
    140
    Standard status
    Active
    APN
    013089 51.08-4-29.2
    Lot size
    2.68 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    52000

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1990
    Building materials
    Block
    Roof type
    Flat

    We can help!

    Listing Contact
    Karen Zalewski-Wildzunas

    Listing agent Karen Zalewski-Wildzunas License #10401299136

    Listing office Berkshire Hathaway Home Services Blake 3 Winners Circle Suite 305, Albany, NY

    Listing date Nov 25, 2025

    MLS# 202530073

    Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Prime Albany Office Space Available

    Located along a highly traveled corridor in the Capital Region, this available office space at 1971 Western Ave in Albany, NY, offers visibility and accessibility. The property provides a professional setting suitable for various office or service-based tenants. The space features a flexible layout that can be adapted to meet operational needs. Large, front-facing windows provide natural light and street presence. Ample parking is available for clients and staff. The property is located minutes from retail, dining, and residential neighborhoods, providing traffic and accessibility. The property is designed to support growth.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Markessinis Paul MD Physician FYI Investigative Group, ... Law Firm Pearl Landscaping & Patio ... Landscaping

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.879221
    Latitude
    42.695336

    Nearby Similar for Lease

    • Contact for pricing

      Loudonville Professional Building Office Space

      Commercial office space in Loudonville Professional Building, Albany, NY.
      264 Osborne Road, Albany, NY 12211
      View Details
    • Contact for pricing

      Albany Commercial Space For Rent

      Versatile commercial space ideal for warehousing, light industrial, distribution.
      4J Vatrano Road unit: J, Albany, NY 12205
      View Details
    • Contact for pricing

      Central Avenue Flex Space Available

      Flex space for lease on Central Avenue in Albany, NY.
      1995 Central Avenue unit: 1, Albany, NY 12205
      View Details
    • Contact for pricing

      Retail Space on Central Avenue

      Affordable retail space with ample parking on busy Central Avenue.
      1995 Central Avenue unit: 4, Albany, NY 12205
      View Details
    • Contact for pricing

      Albany Commercial Space For Lease

      Commercial space for lease in Albany, New York.
      347 South Pearl Street, Albany, NY 12202
      View Details
    • Contact for pricing

      Albany Warehouse Near Airport

      6,000 SF industrial/warehouse space near Albany International Airport.
      8 Northway Lane, Albany, NY 12110
      View Details
    • $15/mo

      Albany Commercial Building For Lease

      Freestanding building with high visibility and flexible layout for lease.
      1865 Central Avenue, Albany, NY 12205
      View Details
    • $14/mo

      Central Avenue Mixed-Use Retail Space

      Highly visible retail space on a busy Albany corridor.
      97 Central Avenue, Albany, NY 12206
      View Details
    • $20/mo

      Retail Space Near Crossgates Mall

      Retail property near Crossgates Mall, high traffic, easy access.
      1650 Western Avenue, Albany, NY 12203
      View Details
    • Contact for pricing

      Retail Space in SUNY Corridor

      Retail space with street visibility and high foot traffic.
      215 Western Ave, Albany, NY 12203
      View Details
    • Contact for pricing

      Retail Space on Central Avenue

      Affordable retail space with high traffic and flexible lease terms.
      1995 Central Avenue unit: Suite 5, Albany, NY 12205
      View Details
    • Contact for pricing

      Retail Space with Private Parking

      1700 sq ft retail space with parking in Albany.
      1316 Central Avenue, Albany, NY 12205
      View Details

    FAQs

    What type of property is this?
    Office units - Highly visible office space for rent in Albany, New York.
    Where is this office units located?
    The property is located at 1971-73 Western Avenue Albany, NY.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Exceptional visibility and strong street presence on a highly traveled corridor.; Ample parking for clients and staff.; Flexible layout adaptable to various business needs.
    (518) 935-2555
    We can help!
    Listing Contact
    Karen Zalewski-Wildzunas
    Real Estate License ID: 10401299136
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!