Add Listing
    For Lease
    • 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

    1 N Russell Rd Albany, NY 12206

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

    Retail space available near Interstate 87, Albany, NY.

    Property size:
    82,944 SF
    Lot size:
    15.95 Acres

    Property Features for 1 N Russell Rd

    General Information

    Size
    82,944 SF
    Lot size
    15.95 Acres

    We can help!

    Listing Contact
    Gordon Heeps
    Gordon Heeps
    Source: Moodyscre

    Listing Agency: RedMark Realty Listing Agent: Gordon Heeps

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

    Learn more

    Property Insight Report

    Overview

    Retail Space Near Interstate 87

    This retail space, totaling 82,944 square feet, is easily accessible from Interstate 87, Exit 2E. The property is located in Albany, NY. Current tenants include Best Fitness, ROSS, Advanced Auto, Wingstop, City Trends, Dollar Tree, and Rainbow Stores.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shopping centers

    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.

    Similar Places Nearby

    Westgate Plaza

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.7891692
    Latitude
    42.6833253

    Nearby Similar for Lease

    • $2,200 /Mo
      Pending

      Retail Space with Private Parking

      1700 sq ft retail space with parking in Albany.
      1316 Central Ave, Albany, NY 12205
      View Details
    • New
      $1,800 /Mo

      Albany Commercial Space For Lease

      Commercial space for lease in Albany, New York.
      347 South Pearl St, Albany, NY 12202
      View Details
    • $1,875 /Mo

      Retail Space in SUNY Corridor

      Retail space with street visibility and high foot traffic.
      215 Western Ave, Albany, NY 12203
      View Details
    • $20 SF/Yr
      4,988 SF

      Retail Space Near Crossgates Mall

      Retail property near Crossgates Mall, high traffic, easy access.
      1650 Western Ave, Albany, NY 12203
      View Details
    • $1,950 /Mo
      4,531 SF

      Loudonville Professional Building Office Space

      Commercial office space in Loudonville Professional Building, Albany, NY.
      264 Osborne Rd, Albany, NY 12211
      View Details
    • $900 /Mo
      6,560 SF

      Albany Office or Retail Space

      Office or retail space available near Northway in Albany, NY.
      1531 Central Unit Su 202, Albany, NY 12205
      View Details
    • $4,600 /Mo
      15,044 SF

      Central Avenue Flex Space Available

      Flex space for lease on Central Avenue in Albany, NY.
      1995 Central Ave, Albany, NY 12205
      View Details
    • $15 SF/Yr
      331,056 SF

      Albany Commercial Building For Lease

      Freestanding building with high visibility and flexible layout for lease.
      1865 Central Ave, Albany, NY 12205
      View Details
    • $16 SF/Yr
      116,741 SF

      Prime Albany Office Space Available

      Highly visible office space for rent in Albany, New York.
      1971-73 Western Ave, Albany, NY 12203
      View Details
    • $14 SF/Yr
      46,080 SF

      Central Avenue Mixed-Use Retail Space

      Highly visible retail space on a busy Albany corridor.
      97 Central Ave, Albany, NY 12206
      View Details
    • $7,000 /Mo
      6,000 SF

      Albany Warehouse Near Airport

      6,000 SF industrial/warehouse space near Albany International Airport.
      8 Northway Ln, Albany, NY 12110
      View Details
    • Contact for pricing

      NY, Albany - New Karner Rd

      Discover many ways to work your way in Highland Pointe
      401 New Karner Rd, Albany, NY 12205
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space available near Interstate 87, Albany, NY.
    Where is this shopping center located?
    The property is located at 1 N Russell Rd Albany, NY.
    What are key features of this property?
    This property features: - Easily accessible off Interstate 87, Exit 2E.; - Join Best Fitness, ROSS, Advanced Auto, Wingstop, City Trends, Dollar Tree, Rainbow Stores, and more!
    (518) 952-7500 Call to check price and availability
    Request Owner's contact information
    1 N Russell Rd Albany, NY 12206
    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.
    1 N Russell Rd
    Albany, NY 12206
    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
    1 N Russell Rd Albany, NY 12206
    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 Gordon Heeps
    Gordon Heeps
    Real Estate License ID: 10491202391
    (518) 952-7500
    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!