Building Details

Year Built 1950

Buildings 1

Stories 1

Listing Agency: Staged Nest Real Estate LLC

Listed By: Frances P Callahan · License #30CA0949290 Show Phone

Source: Capmarkrealty

Added: Sep 22 Changed: Nov 3 Last Checked: Nov 6 at 5:52AM

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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 Staged Nest Real Estate LLC

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Investment Insights

Based on property information with market context.

Located at 1992 New Scotland Road in New Scotland, this 5,400-square-foot flex property combines office and storage/warehouse areas within a commercially zoned building. Approximately 40% of the space is configured for office use and 60% for storage or warehouse functions, with ceiling heights varying across the building. The property is currently used for clean equipment storage and includes ample parking.

Built in 1950, the building previously accommodated a gymnastics studio and offices. Its existing mix of finished office space and storage areas supports a range of commercial configurations, subject to applicable approvals and site requirements.

Key Highlights

• 5,400 square feet of office and storage/flex space
• Approximately 40% office and 60% storage/warehouse configuration
• Commercial zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$61,601

Cap Rate

8.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,232,020 $1.2M

Cap Rate 7%

$880,014 $880.0K

Cap Rate 9%

$684,456 $684.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,400 SF

Gross rent

$77.8K $14.40/SF

− Vacancy

−$5.3K −$0.98/SF

EGI

$72.5K $13.42/SF

− OpEx

−$10.9K −$2.01/SF

NOI

$61.6K $11.41/SF

Area

Albany County, NY

Vacancy

6.80%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,232,020

Cap Rate 7%

$880,014

Cap Rate 9%

$684,456

Alternative Uses

Best Use

Warehouse

$880.0K

$770.0K – $1.03M (±1% cap)

NOI $61,601 @ 7.0% cap · market cap 8.21%

Second Best

Industrial

$724.7K

$634.1K – $845.5K (±1% cap)

NOI $50,731 @ 7.0% cap · market cap 6.76%

Theoretical Best

Office A

$1.69M

$1.47M – $1.97M (±1% cap)

NOI $117,953 @ 7.0% cap · market cap 15.73%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Big Box & Wholesale Store Real Estate Agency HVAC Service Electrical Service Hair Salon Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

93

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 12159, NY

8,524

Population

3,980

Households

2.1

Avg Household Size

47

Median Age

65%

College-Educated

97%

High-School Grad

15.1 sq mi

ZIP Area

565

Density / Sq Mi

$109,073

Median Household Income

$63,604

Median Earnings

$1,632

Median Rent

$430,800

Median Home Value

Market

Average Price Trend$/SF for Flex space in Albany County, NY

$84.86 Jul

$87.09 Aug

$102 Sep

$111 Oct

Properties on Market for Flex space in Albany County

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Commercially zoned flex property with a mixed office and storage configuration.

Where is this flex space located?

The property is located at 1992 New Scotland Road Slingerlands, NY.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: 5,400 square feet of office and storage/flex space; Approximately 40% office and 60% storage/warehouse configuration; Commercial zoning