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

    1156-1158 Western Ave Albany, NY

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Two-story office building near SUNY campus with parking.

    Type:OFFICE
    Property size:
    3,840 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $416/SF
    Added:
    Aug 4, 2025
    Days on Market:
    268
    Last Refresh:
    Apr 5 at 10:41 pm

    Property Features for 1156-1158 Western Ave

    General Information

    Standard status
    Active
    Size
    3,840 SF
    Lot size
    0.16 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Jessica L. Richer
    Jessica L. Richer

    Listing agent Jessica L. Richer License #10301202070

    Listing office Hanna Commercial Real Estate | Capital Region, NY

    Listing date Aug 4, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Hanna Commercial Real Estate | Capital Region, NY

    Overview

    Two-Story Office Building Near SUNY

    This is a 6,290 square foot, two-story commercial office building with parking for approximately 25 vehicles. The property is located in front of a traffic light with a lighted crosswalk. An exit through the property onto Taft Avenue enables drive-through capacity. The building is strategically located near the SUNY campus and University Plaza, which includes Uncommon Grounds and other retail shopping.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.8219
    Latitude
    42.6758

    Nearby Similar for Sale

    • $449,900
      4,984 SF

      Versatile Commercial Space in Albany

      Expansive Albany property with flexible layout and gated parking.
      854 Madison Avenue, Albany, NY 12208
      View Details
    • $449,000
      2,824 SF

      Albany Office with Parking

      Well-maintained office property in Albany's Lark Street district.
      255 Lark Street, Albany, NY 12210
      View Details
    • $349,900
      1,008 SF

      Mixed-Use Property in Downtown Albany

      Mixed-use property with commercial space and residential unit in Albany.
      54 James Street, Albany, NY 12207
      View Details
    • $799,000
      7,728 SF

      Albany Flex Industrial Building

      7728 SF flex industrial building for contractors or distribution.
      334 Ontario Street, Albany, NY 12208
      View Details
    • $995,000
      13,200 SF

      Historic Church and Parish Hall

      Historic Albany church and hall, ideal for gatherings and events.
      820 Madison Avenue, Albany, NY 12208
      View Details
    • $399,900
      4,221 SF

      Albany Commercial Space For Sale

      4200+ sqft retail/warehouse space in Albany's revitalizing warehouse district.
      1306 Broadway, Albany, NY 12204
      View Details
    • $60,000
      13,894 SF

      Bubble Tea Shop Opportunity

      Fully operational bubble tea shop with loyal customer base.
      260 Osborne Road, Albany, NY 12211
      View Details
    • $999,000

      Versatile Commercial Property on Central Avenue

      Remarkable 43,520 sq ft commercial property with diverse spaces.
      233 Central Avenue, Albany, NY 12206
      View Details
    • $950,000
      16,420 SF

      Albany Commercial Property For Sale

      Commercial property for sale in Albany, NY, with business opportunity.
      368 Central Avenue, Albany, NY 12206
      View Details
    • $1,500,000
      16,420 SF

      Established Truck Suspension Business For Sale

      Established truck suspension business with real estate or lease options.
      368 Central Avenue, Albany, NY 12206
      View Details
    • $2,450,000
      16,420 SF

      Established Albany Business For Sale

      Established business with real estate, FF&E, and inventory included.
      368 Central Avenue, Albany, NY 12206
      View Details
    • $350,000
      5,148 SF

      Albany Commercial Building with Parking

      Two-story commercial building with parking in Albany's South End.
      493 S Pearl Street, Albany, NY 12202
      View Details

    FAQs

    What type of property is this?
    Office building - Two-story office building near SUNY campus with parking.
    Where is this office building located?
    The property is located at 1156-1158 Western Ave Albany, NY.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: 6290 SF 2 story commercial office building; Parking for approximately 25 vehicles; Located at traffic light with lighted crosswalk
    (518) 458-7000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jessica L. Richer
    Jessica L. Richer
    Real Estate License ID: 10301202070
    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!