Furnished Office
For Sale
$325,000
1840 Western Avenue, Albany, NY 12203
Finished commercial space with dedicated offices, conference facilities, a break area, and accessible entry.
Property Size1,907 SF
Days on Market141
Property Features for 1840 Western Avenue
General Information
Standard status
Active
Size
1,907 SF
Class
B
Property subtype
Office
Building Details
Building Size
1,907 SF
Listing Agency:
IKON Realty Group
Listed By:
Bruce Ginsburg
(518) 573-5853
Source:
Ikonrealtygroup
Added: Jun 2
Changed: Oct 5
Last Checked: Oct 19 at 4:16AM
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 IKON Realty Group
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Investment Insights
Based on property information with market context.
Located at 1840 Western Avenue in Albany, this finished office building is configured with four private offices, a large conference area, a kitchen and break area, one full bathroom, and one half bathroom. The building is offered with furnishings and office equipment, excluding computers, papers, a postage machine, artwork, and basement contents.
Exterior features include signage along Western Avenue and a handicap ramp at the entrance. The roof is eight years old, and the furnace was replaced four years ago.
Exterior features include signage along Western Avenue and a handicap ramp at the entrance. The roof is eight years old, and the furnace was replaced four years ago.
Key Highlights
- Four private offices plus a large conference area
- Kitchen and break area with one full bathroom and one half bathroom
- Furnishings and office equipment included, with stated exclusions
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,100
Cap Rate
8.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$522,000
$522.0K
Cap Rate 7%
$372,857
$372.9K
Cap Rate 9%
$290,000
$290.0K
Market Conditions
NOI Build-Up for 1,907 SF
Gross rent
$42.3K $22.20/SF
− Vacancy
−$7.5K −$3.95/SF
EGI
$34.8K $18.25/SF
− OpEx
−$8.7K −$4.56/SF
NOI
$26.1K $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%
$522,000
Cap Rate 7%
$372,857
Cap Rate 9%
$290,000
Alternative Uses
Best Use
Office B
$372.9K
$326.3K – $435.0K
NOI $26,100 @ 7.0% cap · market cap 8.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$503.1K
$440.2K – $587.0K
NOI $35,218 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Explore this area
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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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Finished commercial space with dedicated offices, conference facilities, a break area, and accessible entry.
Where is this office building located?
The property is located at 1840 Western Avenue Albany, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Four private offices plus a large conference area; Kitchen and break area with one full bathroom and one half bathroom; Furnishings and office equipment included, with stated exclusions
