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    Class A Office Suites and Second Floor Title is generated by Realmo AI

    40 Media Drive, West Glens Falls, NY 12804

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    New
    For Lease
    $17 SF/Yr $58,414/Mo (calc)

    Class A office space with multiple first-floor suites and full second-floor availability in a building with extensive parking.

    Type:Office
    Property size:
    41,234 SF
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 5 at 2:52 am

    Property Features for 40 Media Drive

    General Information

    Standard status
    Active
    Size
    41,234 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Craig Darby
    Craig Darby

    Listing agent Craig Darby License #Associate Real Estate Broker

    Listing office CBRE - Albany

    Listing date Jun 3, 2026

    Source Cbre

    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 CBRE - Albany

    HighLights

    • ±41,234 SF of Class A office space available for lease in a larger ±66,066 SF office building in Queensbury, NY
    • Available configurations include multiple first‑floor office suites and the entire second floor
    • 425 parking spaces on site for tenant and visitor use
    • Passenger elevator, common‑area loading access, and on‑site generator
    • Building offers building and monument signage
    • ±0.3 mi to Exit 18 of I‑87 (Adirondack Northway) and close to commercial and retail users

    Overview

    A total of 41,234 sf of Class A office space is available for lease within a larger 66,066 sf office building. The available options include multiple first-floor suites as well as the entire second floor, providing flexibility for both smaller tenants and single-user takeovers. Building amenities include passenger elevator service, common area loading access, and an on-site generator. Building signage and monument signage are also available.

    The property is located in the Queensbury/West Glens Falls area, at 40 Media Drive. Parking is extensive, with 425 spaces available for the building. The location provides convenient highway access, with the property positioned approximately 0.3 miles to Exit 18 of I-87 (The Adirondack Northway). The building serves a wider mix of commercial and retail users in the surrounding area.

    This space is well-suited for office users seeking Class A environment and straightforward move-in configuration across multiple suites or an entire floor. Tenants benefit from on-site parking and elevator access for day-to-day operations, along with common area loading support. The owner will also consider a sale, offering an additional path for qualified buyers evaluating a transaction in this asset type.
    Location Intelligence

    Current Use by Public Records

    Gracenote, Inc Media Distribution Hudson Headwaters 340B, ... Pharmacy

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Glens Falls
    County
    Warren
    State
    New York
    Longitude
    -73.67624
    Latitude
    43.3009103

    FAQs

    What type of property is this?
    Office units - Class A office space with multiple first-floor suites and full second-floor availability in a building with extensive parking.
    Where is this office units located?
    The property is located at 40 Media Drive West Glens Falls, NY.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: ±41,234 SF of Class A office space available for lease in a larger ±66,066 SF office building in Queensbury, NY; Available configurations include multiple first‑floor office suites and the entire second floor; 425 parking spaces on site for tenant and visitor use
    (518) 378-2501
    We can help!
    Listing Contact
    Craig Darby
    Craig Darby
    Real Estate License ID: Associate Real Estate Broker
    Learn More
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    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
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