Retail Space with Shared
For Sale
Contact for pricing
1229 Central Avenue, Colonie, NY 12205
A 700-square-foot storefront offers shared parking and a lease that includes several operating costs.
Property Size700 SF
Price / SF$1.57
Days on Market37
Property Features for 1229 Central Avenue
General Information
Standard status
Active
Size
700 SF
Total Parking Spaces
28
Property subtype
Business
Building Details
Year Built
1955
Listing Agency:
Salisbury Real Estate Services
(518) 599-5588
Listed By:
Jeff Siggia · License #10401269553
(518) 312-9884
Source:
Simplywoodardrealestate
Added: Sep 30
Changed: Nov 4
Last Checked: Nov 4 at 9:01AM
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 Salisbury Real Estate Services
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 700-square-foot retail space is in a building constructed in 1955. The location is 1229 Central Avenue in Colonie, New York.
Shared parking provides 24 standard spaces and 4 handicapped spaces. The lease includes taxes, water, common area maintenance, lawn care, and use of a trash dumpster.
Shared parking provides 24 standard spaces and 4 handicapped spaces. The lease includes taxes, water, common area maintenance, lawn care, and use of a trash dumpster.
Key Highlights
- 700 square feet of retail space
- Shared parking includes 24 spaces and 4 handicapped spaces
- Lease covers taxes, water, common area maintenance, lawn care, and trash dumpster use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,458
Suggested Prices Based on Cap Rates
Cap Rate 5%
$169,160
$169.2K
Cap Rate 7%
$120,829
$120.8K
Cap Rate 9%
$93,978
$94.0K
Market Conditions
NOI Build-Up for 700 SF
Gross rent
$13.0K $18.60/SF
− Vacancy
−$937 −$1.34/SF
EGI
$12.1K $17.26/SF
− OpEx
−$3.6K −$5.18/SF
NOI
$8.5K $12.08/SF
Area
Albany, NY
Vacancy
7.20%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$169,160
Cap Rate 7%
$120,829
Cap Rate 9%
$93,978
Alternative Uses
Best Use
Retail
$120.8K
$105.7K – $141.0K
NOI $8,458 @ 7.0% cap · market cap 768.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$184.7K
$161.6K – $215.5K
NOI $12,928 @ 7.0% cap · market cap 1,175.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
618
Businesses Nearby
32k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 74%
Dining 26%
Cumberland Farms
Shops & Services
16,139 visits/mo
0.3 miles
KFC
Dining
8,323 visits/mo
0.1 miles
TD Bank
Shops & Services
4,470 visits/mo
0.2 miles
Napa Auto Parts
Shops & Services
2,598 visits/mo
0.2 miles
Interstate Batteries
Shops & Services
555 visits/mo
0.2 miles
Demographics for 12205, NY
27,168
Population
12,061
Households
2.3
Avg Household Size
45
Median Age
36%
College-Educated
94%
High-School Grad
15.4 sq mi
ZIP Area
1,764
Density / Sq Mi
$89,270
Median Household Income
$54,184
Median Earnings
$1,405
Median Rent
$264,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - A 700-square-foot storefront offers shared parking and a lease that includes several operating costs.
Where is this retail space located?
The property is located at 1229 Central Avenue Colonie, NY.
What are key features of this property?
This property features: 700 square feet of retail space; Shared parking includes 24 spaces and 4 handicapped spaces; Lease covers taxes, water, common area maintenance, lawn care, and trash dumpster use
