Office Building with Loading
For Sale
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5 Columbia Cir, Albany, NY 12203
Multi-tenant office building with long-term credit tenants, wet sprinkler system, passenger elevator, and parking for 128 vehicles.
Property Size48,972 SF
Price / SF$153.15
Days on Market970
Property Features for 5 Columbia Cir
General Information
Standard status
Active
Size
48,972 SF
Total Parking Spaces
228
Property subtype
OFFICE
Warehouse & Industrial
Dock-High Doors
1
Sprinkler System
Yes
Amenities
catered cafe
Building Details
Tenancy
Multi
Listing Agency:
CBRE | Albany
(518) 452-2700
Listed By:
Laurie Tylenda · License #10301205946
(518) 429-6175
Source:
Moodyscre
Added: Mar 4, 2024
Changed: Oct 25
Last Checked: Oct 28 at 8:14AM
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
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Investment Insights
Based on property information with market context.
This office building features three long-term, credit tenants with staggered lease terms. The property includes one passenger elevator, a wet sprinkler system (including the basement), and one loading dock. Continued capital replacements and upgrading are noted, and the roof was replaced in 2017. A catered cafe at 7 Columbia Circle is available for all tenants.
The building is located at 5 Columbia Cir in Albany, NY, with access to CDTA transportation and on-site parking for approximately 128 vehicles.
For buyers and brokers evaluating steadier income, the current tenancy structure is supported by long-term leases and a property setup designed for ongoing day-to-day operations, including elevator service and loading access.
The building is located at 5 Columbia Cir in Albany, NY, with access to CDTA transportation and on-site parking for approximately 128 vehicles.
For buyers and brokers evaluating steadier income, the current tenancy structure is supported by long-term leases and a property setup designed for ongoing day-to-day operations, including elevator service and loading access.
Key Highlights
- Multi‑tenant office building with three long‑term, credit tenants
- Wet sprinkler system, including basement
- Passenger elevator plus one loading dock
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$670,245
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,404,900
$13.4M
Cap Rate 7%
$9,574,929
$9.6M
Cap Rate 9%
$7,447,167
$7.4M
Market Conditions
NOI Build-Up for 48,972 SF
Gross rent
$1.09M $22.20/SF
− Vacancy
−$193.5K −$3.95/SF
EGI
$893.7K $18.25/SF
− OpEx
−$223.4K −$4.56/SF
NOI
$670.2K $13.69/SF
Area
Albany, NY
Vacancy
17.80%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,404,900
Cap Rate 7%
$9,574,929
Cap Rate 9%
$7,447,167
Alternative Uses
Best Use
Office B
$9.57M
$8.38M – $11.17M
NOI $670,245 @ 7.0% cap · market cap 8.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.92M
$11.31M – $15.07M
NOI $904,415 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Dock-high doors
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
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Business Placement
Demographics for 12203, NY
28,210
Population
14,755
Households
1.9
Avg Household Size
38
Median Age
54%
College-Educated
95%
High-School Grad
10.4 sq mi
ZIP Area
2,713
Density / Sq Mi
$80,055
Median Household Income
$44,412
Median Earnings
$1,342
Median Rent
$258,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office building with long-term credit tenants, wet sprinkler system, passenger elevator, and parking for 128 vehicles.
Where is this office building located?
The property is located at 5 Columbia Cir Albany, NY.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: Multi‑tenant office building with three long‑term, credit tenants; Wet sprinkler system, including basement; Passenger elevator plus one loading dock
