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    Downtown Albany Office Space Available Title is generated by Realmo AI

    136 State St, Albany, NY

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    Renovated office suite in downtown Albany with parking available.

    Type:OFFICE
    Property size:
    1,610 SF
    Lot size:
    0.10 Acres
    Added:
    Nov 19, 2024
    Days on Market:
    563
    Last Refresh:
    May 20 at 9:13 pm

    Property Features for 136 State St

    General Information

    Standard status
    Active
    Size
    1,610 SF
    Lot size
    0.10 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 136 State St Contact us

    We can help!

    Listing Contact
    Brandon L Stabler

    Listing agent Brandon L Stabler

    Listing office Columbia Development Companies

    Listing date Nov 19, 2024

    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 Columbia Development Companies

    HighLights

    • Prime downtown Albany location on State Street, close to government offices and I‑787.
    • Renovated 18,000 sq ft mixed‑use building with historic facade (renovations completed Fall 2015).
    • Available 1,610 RSF suite on the fifth floor with 4 offices, conference room, reception, kitchenette, and private toilet.
    • Suite can be modified to meet tenant's needs.
    • Keyless security access system.
    • Parking available in adjacent garage (separate agreement).

    Overview

    Located in the heart of downtown Albany on upper State Street, 134-136 State Street is a mixed-use commercial building functioning as a single unit with a shared entrance, elevator, and stairs. The 5-story, 18,000 square foot building underwent renovations completed in the Fall of 2015, which included a new internal support structure and new floors while preserving the historic facade. The available suite is 1,610 RSF on the fifth floor, featuring four offices, a conference room, reception space, a printer/kitchenette area, and a private suite toilet. The suite is offered in "as-is" condition but can be modified to meet tenant needs. The site is situated minutes from I-787, offering excellent visibility and close proximity to Local and New York State Government. Amenities include a keyless security access system and parking garage. Parking is available in the adjacent garage under a separate agreement.
    Property Profile Location Intelligence

    Current Use by Public Records

    NYSPSP Charitable Organization National Industries for the Blind Charitable Organization Capital Health Consulting ... Physician MedGlow HGH Peptides ... Medical Clinic Manatt, Phelps & Phillips, ... Law Firm

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Law Firm Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.7551
    Latitude
    42.6507

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    FAQs

    What type of property is this?
    Office units - Renovated office suite in downtown Albany with parking available.
    Where is this office units located?
    The property is located at 136 State St Albany, NY.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: Prime downtown Albany location on State Street, close to government offices and I‑787.; Renovated 18,000 sq ft mixed‑use building with **historic facade** (renovations completed Fall 2015).; Available **1,610 RSF suite on the fifth floor** with 4 offices, conference room, reception, kitchenette, and private toilet.
    (518) 862-9133 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Brandon L Stabler
    Request Owner's contact information
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    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.

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