Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Renovated Rental with Modern Amenities Title is generated by Realmo AI

    1221 Altamont Avenue #2, Schenectady, NY 12303

    View on Map
    Claim this Listing
    For Lease
    $1,300/Mo $13 SF/Yr (calc)

    Newly renovated 400 sq ft rental near shopping and services.

    Type:Commercial
    Property size:
    1,124 SF
    Lot size:
    0.49 Acres
    Added:
    Jan 26, 2026
    Days on Market:
    131
    Last Refresh:
    Apr 5 at 11:32 pm

    Property Features for 1221 Altamont Avenue #2

    General Information

    Standard status
    Active
    Size
    1,124 SF
    Lot size
    0.49 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1960

    We can help!

    Listing Contact
    KIMBERLY MARTUSCELLO

    Listing agent KIMBERLY MARTUSCELLO

    Listing office MIRANDA REAL ESTATE GROUP INC

    Listing date Jan 26, 2026

    Source Corcoran

    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 MIRANDA REAL ESTATE GROUP INC

    HighLights

    • Completely renovated with new features throughout.
    • Convenient in‑unit washer and dryer.
    • Open‑concept layout maximizing space and light.
    • Ample on‑site parking available.
    • Spacious outdoor area.
    • Ideally located near shopping and services.

    Overview

    This renovated 400 sq ft rental offers a modern living space. Located near shopping and services, the property includes a spacious outdoor area and on-site parking. The open-concept layout combines the living room, dining area, and kitchen. The unit features one bedroom, one full bath, and a washer and dryer. The property size is 1124 sq ft.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness 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
    -73.9422
    Latitude
    42.7869

    Nearby Similar for Lease

    • $15 SF/Yr
      10,188 SF

      Office Space in Schenectady, NY

      Versatile office space in Rotterdam, ready for immediate occupancy.
      1004 Princetown Road, Schenectady, NY 12306
      View Details
    • $975/Mo

      Office Suite for Lease

      Office suite for lease in Schenectady, NY.
      706 Kings Road, Schenectady, NY 12304
      View Details
    • $1,500/Mo
      5,388 SF

      Historic Schenectady Building with Space

      Office and retail spaces in a historic Schenectady building.
      101 State Street, Schenectady, NY 12305
      View Details
    • $1,300/Mo
      3,068 SF

      Schenectady Commercial Space for Rent

      Highly visible storefront suitable for various businesses, excluding food.
      1726 State Street, Schenectady, NY 12304
      View Details
    • $10,000/Mo
      8,840 SF

      Versatile Commercial Building for Lease

      8,840 SF commercial building on 0.91 acre lot for lease.
      2015 Hamburg Street, Schenectady, NY 12304
      View Details
    • $995/Mo
      1,677 SF

      Lafayette Street Office Space Available

      Second-floor office space with excellent visibility and downtown views.
      162 Lafayette Street, Schenectady, NY 12305
      View Details
    • $19 SF/Yr
      3,628 SF

      Retail Space in Schenectady Plaza

      Renovated retail space in established plaza with parking.
      1608 Union Street, Schenectady, NY 12309
      View Details
    • $2,850/Mo
      1,650 SF

      Schenectady Office Space For Lease

      Office space for lease in Schenectady with private parking.
      525 Union Street, Schenectady, NY 12305
      View Details
    • $15 SF/Yr
      4,655 SF

      Downtown Schenectady Retail/Office Space

      Charming, well-maintained space in the heart of downtown Schenectady.
      213 State Street, Schenectady, NY 12305
      View Details
    • $15 SF/Yr

      Schenectady Clinical Office Space

      Clinical office space in downtown Schenectady, suitable for medical practices.
      214 State Street, Schenectady, NY 12305
      View Details
    • $2,450/Mo
      19,830 SF

      Rear-Loaded Flex Space Suite

      Rear-positioned, open-concept suite with dedicated loading for flexible operations and frequent deliveries.
      1818 B State Street, Schenectady, NY 12304
      View Details
    • $2,950/Mo
      19,830 SF

      Front Retail Storefront Suite

      Front-of-building retail suite with expansive display windows, street-level entry, and prominent building signage for customer-facing use.
      1818 A State Street, Schenectady, NY 12304
      View Details

    FAQs

    What type of property is this?
    Residential income property - Newly renovated 400 sq ft rental near shopping and services.
    Where is this residential income property located?
    The property is located at 1221 Altamont Avenue #2 Schenectady, NY.
    What is the lease rate?
    The lease rate is $1,300 /Mo.
    What are key features of this property?
    This property features: Completely renovated with new features throughout.; Convenient in‑unit washer and dryer.; Open‑concept layout maximizing space and light.
    (518) 356-1701
    We can help!
    Listing Contact
    KIMBERLY MARTUSCELLO
    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
    1221 Altamont Avenue #2, Schenectady, NY 12303
    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!