Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Single-Tenant Office Building For Sale Title is generated by Realmo AI

    1523 State St, Schenectady, NY

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

    Single-tenant office building with off-street parking, close to major routes.

    Type:OFFICE
    Property size:
    5,200 SF
    Lot size:
    0.35 Acres
    Price / SF:
    $33/SF
    Added:
    Apr 4, 2025
    Days on Market:
    408
    Last Refresh:
    Apr 5 at 11:02 pm

    Property Features for 1523 State St

    General Information

    Standard status
    Active
    Size
    5,200 SF
    Lot size
    0.35 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Bruce Ginsburg
    Bruce Ginsburg

    Listing agent Bruce Ginsburg

    Listing office IKON Realty Group

    Listing date Apr 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 IKON Realty Group

    HighLights

    • Highly desirable, single‑tenant office building.
    • Features an off‑street parking field.
    • Close proximity to Crosstown Connection/Route 7 and I‑890.
    • Locally‑based property ownership.
    • Landlord responsible for roof and structure.
    • Tenant responsible for taxes, insurance, snow plowing, lawn and landscaping.

    Overview

    This is a single-tenant office building with off-street parking. The property is in close proximity to the Crosstown Connection/Route 7 and I-890. The property ownership is locally based. The landlord is responsible for the roof, structure, and HVAC, with the tenant maintaining the HVAC through a bi-annual service contract. The tenant is responsible for taxes, insurance, snow plowing, lawn, and landscaping. Taxes are estimated at $17,142 per year. The property size is 5,200 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Center For Disability Services Social Service Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Schenectady
    County
    Schenectady
    State
    New York
    Longitude
    -73.9149
    Latitude
    42.7906

    Nearby Similar for Sale

    • $400,000
      2,700 SF

      Schenectady Commercial Opportunity For Sale

      Commercial property in Schenectady with flexible zoning and spacious lot.
      440 Peek Street, Schenectady, NY 12308
      View Details
    • $350,000
      2,580 SF

      Turnkey Auto Body Repair Shop

      Auto body repair shop with office, near highways and businesses.
      814 Broadway, Schenectady, NY 12305
      View Details
    • $379,000
      4,500 SF

      Commercial Building on Amsterdam Road

      4500 SF building in high-traffic Schenectady location.
      3304 Amsterdam Road, Schenectady, NY 12302
      View Details
    • $400,000

      Schenectady Commercial Opportunity For Sale

      Commercial property in growing area, ideal for vehicle fleet operations.
      440 Peek Street, Schenectady, NY 12308
      View Details
    • $499,900
      3,521 SF

      Iconic Restaurant/Bar in Schenectady

      Turnkey restaurant/bar with indoor/outdoor seating near Mohawk Harbor.
      1857 Van Vranken Avenue, Schenectady, NY 12308
      View Details
    • $799,000
      3,833 SF

      Schenectady Commercial Property For Sale

      Well-located commercial property in Schenectady, offering visibility and accessibility.
      2855 Aqueduct Road, Schenectady, NY 12309
      View Details
    • $65,000
      1,109 SF

      Turn-Key Restaurant Opportunity, Schenectady

      Established Italian restaurant for sale in prime Schenectady location.
      1599 Union Street, Schenectady, NY 12309
      View Details
    • $379,000
      2,740 SF

      Schenectady Multifamily Investment Opportunity

      Fully occupied four-unit property with immediate returns and strong occupancy.
      1521 Van Vranken Avenue, Schenectady, NY 12308
      View Details
    • $950,000
      2,368 SF

      Schenectady Commercial Opportunity For Sale

      Turnkey restaurant and bar with apartment in high-traffic location.
      1490 State Street, Schenectady, NY 12304
      View Details
    • $379,900
      2,806 SF

      Versatile Income-Generating Triplex in Schenectady

      Three-family property with income potential in a prime location.
      318 Georgetta Dix Plaza, Schenectady, NY 12307
      View Details
    • $375,000
      2,578 SF

      Turn-Key Mixed-Use Property

      Mixed-use property with restaurant and apartment in Schenectady, NY.
      703 Union Street, Schenectady, NY 12305
      View Details
    • $349,999
      2,585 SF

      Mixed-Use Property in Upper Union

      Mixed-use property in desirable Upper Union St Business District!
      1603 Union Street, Schenectady, NY 12309
      View Details

    FAQs

    What type of property is this?
    Office building - Single-tenant office building with off-street parking, close to major routes.
    Where is this office building located?
    The property is located at 1523 State St Schenectady, NY.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: Highly desirable, single‑tenant office building.; Features an off‑street parking field.; Close proximity to Crosstown Connection/Route 7 and I‑890.
    (518) 573-5853 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bruce Ginsburg
    Bruce Ginsburg
    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

    Thank You for Inquiry
    1523 State St, Schenectady, NY
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!