Retail Storefront
For Sale
Contact for pricing
15 Watervliet Ave, Albany, NY 12206
For-sale retail storefront offering a compact footprint for small businesses or service retailers.
Property Size1,200 SF
Price / SF$415.83
Days on Market98
Property Features for 15 Watervliet Ave
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Retail
Listing Agency:
RedMark Realty
Listed By:
Doug Morabito · License #NY
(518) 952-7500
Source:
Crexi
Added: Jun 1
Changed: Sep 5
Last Checked: Sep 6 at 12:57PM
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 RedMark Realty
Investment Insights
Based on property information with market context.
This for-sale retail storefront is listed as a 1,200-square-foot space configured for retail use. It is presented as a straightforward option for an operator seeking a dedicated storefront environment.
The property is located at 15 Watervliet Ave in Albany, NY 12206. The offering is identified as retail space within the broader storefront and retail property category.
Suitable uses for this kind of space typically include small-format retail or service-oriented businesses that benefit from a defined customer-facing storefront layout. As presented, the opportunity centers on acquiring a retail property with an established, compact size that can support a range of everyday commercial uses.
The property is located at 15 Watervliet Ave in Albany, NY 12206. The offering is identified as retail space within the broader storefront and retail property category.
Suitable uses for this kind of space typically include small-format retail or service-oriented businesses that benefit from a defined customer-facing storefront layout. As presented, the opportunity centers on acquiring a retail property with an established, compact size that can support a range of everyday commercial uses.
Key Highlights
- For‑sale retail storefront totaling 1,200 SF
- Compact retail footprint suited for small businesses or service retailers
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,499
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$289,980
$290.0K
Cap Rate 7%
$207,129
$207.1K
Cap Rate 9%
$161,100
$161.1K
Market Conditions
NOI Build-Up for 1,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.3K $18.60/SF
− Vacancy
−$1.6K −$1.34/SF
EGI
$20.7K $17.26/SF
− OpEx
−$6.2K −$5.18/SF
NOI
$14.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$289,980
Cap Rate 7%
$207,129
Cap Rate 9%
$161,100
Alternative Uses
Best Use
Retail
$207.1K
$181.2K – $241.7K
NOI $14,499 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$316.6K
$277.0K – $369.4K
NOI $22,162 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,147
Businesses Nearby
44k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 68%
Dining 27%
Hotels & Casinos 6%
Dunkin' Donuts
Dining
11,855 visits/mo
0.2 miles
Mobil
Shops & Services
9,921 visits/mo
0.1 miles
Hoffman Car Wash
Shops & Services
6,879 visits/mo
0.3 miles
Speedway
Shops & Services
6,174 visits/mo
0.4 miles
AutoZone
Shops & Services
4,058 visits/mo
0.4 miles
Demographics for 12206, NY
17,219
Population
8,641
Households
2
Avg Household Size
32
Median Age
26%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
8,200
Density / Sq Mi
$38,931
Median Household Income
$28,087
Median Earnings
$1,189
Median Rent
$162,300
Median Home Value
Market
Vacancy Rate% for Retail in Albany, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - For-sale retail storefront offering a compact footprint for small businesses or service retailers.
Where is this storefront property located?
The property is located at 15 Watervliet Ave Albany, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: For‑sale retail storefront totaling 1,200 SF; Compact retail footprint suited for small businesses or service retailers
