Building Details

Year Built 1957

Buildings 1

Building Size 69,000 SF

Listing Agency: Berkshire Hathaway Home Services Blake

Listed By: Brian Walters · License #30WA0832219 Show Phone

Source: Albanyprimeproperties

Added: Sep 4 Changed: Oct 19 Last Checked: Oct 19 at 6:57AM

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Investment Insights

Based on property information with market context.

Set on 26.69 acres, this campus-style office property includes a 69,000 SF building constructed in 1957. The structure is positioned for rehabilitation or build-to-suit redevelopment, with PBD zoning supporting medical, professional, educational, R&D, and corporate facilities.

The property is located at 125 Bloomingrove Dr in Troy, NY, 0.75 miles from Hudson Valley Community College and next to the North Greenbush commercial corridor. Regional access includes a 1.75-mile connection to I-787 and a 2.7-mile drive to I-90. The combination of substantial land area, an existing office building, and multiple documented use categories provides a flexible framework for repositioning.

Key Highlights

• 26.69‑acre campus‑style property
• 69,000 SF office building constructed in 1957
• PBD zoning supports medical, professional, educational, R&D, and corporate facilities

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$846,572

Suggested Prices Based on Cap Rates

Cap Rate 5%

$16,931,440 $16.9M

Cap Rate 7%

$12,093,886 $12.1M

Cap Rate 9%

$9,406,356 $9.4M

What to ask about pricing

Market Conditions

NOI Build-Up for 69,000 SF

Gross rent

$1.43M $20.76/SF

− Vacancy

−$303.7K −$4.40/SF

EGI

$1.13M $16.36/SF

− OpEx

−$282.2K −$4.09/SF

NOI

$846.6K $12.27/SF

Area

Rensselaer County, NY

Vacancy

21.20%

Lease Rate

$20.76 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$16,931,440

Cap Rate 7%

$12,093,886

Cap Rate 9%

$9,406,356

Alternative Uses

Best Use

Healthcare Medical

$13.34M

$11.67M – $15.56M (±1% cap)

NOI $933,736 @ 7.0% cap · market cap 5,187,422.22%

Second Best

Office B

$12.09M

$10.58M – $14.11M (±1% cap)

NOI $846,572 @ 7.0% cap · market cap 4,703,177.78%

Theoretical Best

Office A

$17.25M

$15.09M – $20.12M (±1% cap)

NOI $1,207,423 @ 7.0% cap · market cap 6,707,905.56%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Dental Office Auto Repair Shop Kitchen & Bath Showroom Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

175

Businesses Nearby

Explore this area Business Placement

Demographics for 12180, NY

55,907

Population

25,527

Households

2.2

Avg Household Size

33

Median Age

40%

College-Educated

90%

High-School Grad

56.2 sq mi

ZIP Area

995

Density / Sq Mi

$73,767

Median Household Income

$41,787

Median Earnings

$1,188

Median Rent

$233,000

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Campus-style office property zoned PBD with rehabilitation potential and support for medical, professional, educational, R&D, and corporate uses.

Where is this office building located?

The property is located at 125 Bloomingrove Dr Troy, NY.

What are key features of this property?

This property features: 26.69‑acre campus‑style property; 69,000 SF office building constructed in 1957; PBD zoning supports medical, professional, educational, R&D, and corporate facilities