Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Albany Religious Institution For Sale Title is generated by Realmo AI

    181 Western Avenue, Albany, NY 12203

    View on Map
    Claim this Listing
    For Sale
    $1,565,000

    1.85 acres with 45,000 SF religious facility in Albany.

    Type:Commercial
    Property size:
    45,000 SF
    Lot size:
    1.85 Acres
    Price / SF:
    $34/SF
    Added:
    Feb 17, 2026
    Days on Market:
    111
    Last Refresh:
    Apr 5 at 8:31 pm

    Property Features for 181 Western Avenue

    General Information

    Standard status
    Active
    Size
    45,000 SF
    Lot size
    1.85 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1929

    We can help!

    Listing Contact
    ANTON PASQUILL

    Listing agent ANTON PASQUILL

    Listing office NAI PLATFORM LLC

    Listing date Feb 17, 2026

    Source Corcoran

    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 NAI PLATFORM LLC

    HighLights

    • 1.85 acres of land and 45,000 square feet of structure
    • Located on Western Avenue (State Route 20), a major gateway to the city
    • Previously utilized as a religious institution with residential facilities and a community center
    • Located in Albany, the center of a 1.17 million person metropolitan area
    • Proximity to major employers: state government, Albany Med, St. Peter's Health Partners, and institutes of higher education
    • Year Built: 1929

    Overview

    This offering features a unique assemblage of structures and tax lots, encompassing 1.85 acres of land and 45,000 square feet of structure. Currently used as a religious institution, the property previously operated a shelter, community residential facility, temporary residential dwellings, a community center, and various professional offices. The property has primary frontage and vehicular access on Western Avenue (State Route 20), a major gateway to the city. The City of Albany has experienced population growth over the past decade and is the center of a 1.17 million person metropolitan area. The area's economy is supported by jobs provided by state government, Albany Med, St. Peter's Health Partners, and many institutes of higher education.
    Property Profile Location Intelligence

    Current Use by Public Records

    Christ's Church Albany Church First Lutheran Church Church

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.7754
    Latitude
    42.662

    Nearby Similar for Sale

    • $429,900
      4,984 SF

      Versatile Commercial Space in Albany

      Expansive Albany property with flexible layout and gated parking.
      854 Madison Avenue, Albany, NY 12208
      View Details
    • $149,999
      6,384 SF

      Established Delicatessen Business For Sale

      Turn-key delicatessen business with equipment and high traffic exposure.
      718 Central Avenue, Albany, NY 12206
      View Details
    • $449,000
      2,824 SF

      Albany Office with Parking

      Well-maintained office property in Albany's Lark Street district.
      255 Lark Street, Albany, NY 12210
      View Details
    • $799,000
      7,728 SF

      Albany Flex Industrial Building

      7728 SF flex industrial building for contractors or distribution.
      334 Ontario Street, Albany, NY 12208
      View Details
    • $449,900
      3,300 SF

      Mixed-Use Property in Center Square

      Mixed-use property with commercial space and residential apartments in Albany.
      418 Madison Avenue, Albany, NY 12210
      View Details
    • $995,000
      13,200 SF

      Historic Church and Parish Hall

      Historic Albany church and hall, ideal for gatherings and events.
      820 Madison Avenue, Albany, NY 12208
      View Details
    • $60,000
      13,894 SF

      Bubble Tea Shop Opportunity

      Fully operational bubble tea shop with loyal customer base.
      260 Osborne Road, Albany, NY 12211
      View Details
    • $999,000
      43,520 SF

      Versatile Commercial Property on Central Avenue

      Remarkable 43,520 sq ft commercial property with diverse spaces.
      233 Central Avenue, Albany, NY 12206
      View Details
    • $950,000
      16,420 SF

      Albany Commercial Property For Sale

      Commercial property for sale in Albany, NY, with business opportunity.
      368 Central Avenue, Albany, NY 12206
      View Details
    • $1,500,000
      16,420 SF

      Established Truck Suspension Business For Sale

      Established truck suspension business with real estate or lease options.
      368 Central Avenue, Albany, NY 12206
      View Details
    • $2,450,000
      16,420 SF

      Established Albany Business For Sale

      Established business with real estate, FF&E, and inventory included.
      368 Central Avenue, Albany, NY 12206
      View Details
    • $350,000
      5,148 SF

      Albany Commercial Building with Parking

      Two-story commercial building with parking in Albany's South End.
      493 S Pearl Street, Albany, NY 12202
      View Details

    FAQs

    What type of property is this?
    Church & religious facility - 1.85 acres with 45,000 SF religious facility in Albany.
    Where is this church & religious facility located?
    The property is located at 181 Western Avenue Albany, NY.
    What is the asking price?
    The asking price for this property is $1,565,000.
    What are key features of this property?
    This property features: 1.85 acres of land and **45,000 square feet of structure**; Located on Western Avenue (State Route 20), a major gateway to the city; Previously utilized as a religious institution with residential facilities and a community center
    (518) 465-1400
    We can help!
    Listing Contact
    ANTON PASQUILL
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    181 Western Avenue, Albany, NY 12203
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!