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

    453 New Karner Rd Albany, NY 12203

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Recently renovated office building with flexible layout in Albany, NY.

    Property size:
    5,600 SF
    Lot size:
    7.91 Acres

    Property Features for 453 New Karner Rd

    General Information

    Size
    5,600 SF
    Lot size
    7.91 Acres

    We can help!

    Listing Contact
    Cory Tyksinski
    Cory Tyksinski
    Source: Moodyscre

    Listing Agency: NAI PLATFORM Listing Agent: Cory Tyksinski

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

    Learn more

    Property Insight Report

    Overview

    Renovated Office Building For Sale

    This recently purchased and renovated office building features a combination of numerous large private offices, a huge bullpen area, 4 bathrooms, a full breakroom, and a large training area. The property includes a brand new roof, new flooring, walls, and carpet. All mechanical systems are in great condition. Located in a commercial office park, the property is part of a condo association with bylaws and a monthly fee. The building has a total size of 5600 square feet. The current owner is looking to do a sale/leaseback, with a new long term lease.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Association of School Business ... Association Or Organization Hesnor Engineering Co Engineering Consultant Old Heritage Title ... Title Company Mor Pac Inc Loan Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office 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
    -73.8404969
    Latitude
    42.7411262

    Nearby Similar for Sale

    • $350,000
      5,148 SF

      Albany Commercial Building with Parking

      Two-story commercial building with parking in Albany's South End.
      493 S Pearl St, Albany, NY 12202
      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
    • $449,000
      2,824 SF

      Albany Office with Parking

      Well-maintained office property in Albany's Lark Street district.
      255 Lark St, Albany, NY 12210
      View Details
    • $999,000
      43,520 SF

      Versatile Commercial Property on Central Avenue

      Remarkable 43,520 sq ft commercial property with diverse spaces.
      233 Central Ave, Albany, NY 12206
      View Details
    • New
      $995,000
      13,200 SF

      Historic Church and Parish Hall

      Historic Albany church and hall, ideal for gatherings and events.
      820 Madison Avenue Ext, Albany, NY 12208
      View Details
    • New
      $370,000
      2,834 SF

      Albany Brownstone with Garden Apartment

      Classic Albany Brownstone near downtown entertainment district.
      44 Clinton Ave, Albany, NY 12210
      View Details
    • $60,000
      13,894 SF

      Bubble Tea Shop Opportunity

      Fully operational bubble tea shop with loyal customer base.
      260 Osborne Rd, Albany, NY 12211
      View Details
    • $449,900
      5,196 SF

      Historic Multifamily Brownstone in Center Square

      Historic multifamily property in Albany's vibrant Center Square neighborhood.
      285 Lark St, Albany, NY 12210
      View Details
    • $649,000
      4,123 SF

      Albany Mixed-Use Building For Sale

      Mixed-use building with retail space and residential apartments in Albany.
      204 Lancaster St, Albany, NY 12201
      View Details
    • $625,000
      3,564 SF

      Albany Multifamily Legacy Investment Opportunity

      Rare all-brick multifamily property near Lark Street and Washington Park.
      369 Hudson Ave, Albany, NY 12210
      View Details
    • $625,000
      3,564 SF

      Albany Multifamily Legacy Investment Opportunity

      All brick multifamily property near Lark Street and Washington Park.
      371 Hudson Ave, Albany, NY 12210
      View Details
    • $599,900
      4,588 SF

      Albany Multifamily Property on Washington Avenue

      Well-maintained Albany property near downtown, employers, and universities.
      166 Washington Avenue Ext, Albany, NY 12210
      View Details

    FAQs

    What type of property is this?
    Office building - Recently renovated office building with flexible layout in Albany, NY.
    Where is this office building located?
    The property is located at 453 New Karner Rd Albany, NY.
    What is the asking price?
    The asking price for this property is $1,150,000.
    What are key features of this property?
    This property features: - Recently renovated with new roof, flooring, walls, carpet, and well-maintained mechanicals.; - Combination of private offices, large bullpen area, training area, breakroom, and 4 bathrooms.; - Opportunity for a sale/leaseback with a new long-term lease.
    (518) 465-1400 Call to check price and availability
    Request Owner's contact information
    453 New Karner Rd Albany, NY 12203
    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.
    453 New Karner Rd
    Albany, NY 12203
    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
    453 New Karner Rd Albany, NY 12203
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Cory Tyksinski
    Cory Tyksinski
    Real Estate License ID: 10491200588
    (518) 465-1400 (518) 857-8396
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!