Warehouse Space with Garage
For Sale
Contact for pricing
1995 Central Avenue #1, Colonie, NY 12205
An open work area and shared restrooms complement the garage configuration.
Property Size15,044 SF
Price / SF$0.16
Days on Market23
Property Features for 1995 Central Avenue #1
General Information
Standard status
Active
Size
15,044 SF
Property subtype
Industrial
Zoning
COR
Additional Details
Road Access
Yes
Drive-In Doors
1
Property Use
Warehouse/Garage
Building Details
Year Built
1959
Listing Agency:
Howard Hanna Capital Inc
(518) 371-4500
Listed By:
Joel A Koval · License #30KO0886220
(518) 466-5635
Source:
Simplywoodardrealestate
Added: Oct 14
Changed: Nov 4
Last Checked: Nov 5 at 10:08AM
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 Howard Hanna Capital Inc
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Investment Insights
Based on property information with market context.
The warehouse space has a large open room with appx 14' ceilings and a garage equipped with a 12' overhead door. Restrooms are in a common area maintained by the landlord.
The property is on Central Avenue in the COR zone, with a use list available in the documents. NY DOT shows approximately 23,000 vehicles per day passing the site. The modified gross lease requires the tenant to pay rent plus a pro-rata share of utilities and CAM; the lease term is negotiable.
The property is on Central Avenue in the COR zone, with a use list available in the documents. NY DOT shows approximately 23,000 vehicles per day passing the site. The modified gross lease requires the tenant to pay rent plus a pro-rata share of utilities and CAM; the lease term is negotiable.
Key Highlights
- Large open warehouse room with appx 14' ceilings
- Garage with a 12' overhead door
- Restrooms in landlord‑maintained common area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$180,494
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,609,880
$3.6M
Cap Rate 7%
$2,578,486
$2.6M
Cap Rate 9%
$2,005,489
$2.0M
Market Conditions
NOI Build-Up for 15,044 SF
Gross rent
$225.7K $15.00/SF
− Vacancy
−$13.3K −$0.89/SF
EGI
$212.3K $14.11/SF
− OpEx
−$31.9K −$2.12/SF
NOI
$180.5K $12.00/SF
Area
Albany, NY
Vacancy
5.90%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,609,880
Cap Rate 7%
$2,578,486
Cap Rate 9%
$2,005,489
Alternative Uses
Best Use
Warehouse
$2.58M
$2.26M – $3.01M
NOI $180,494 @ 7.0% cap · market cap 7,292.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.97M
$3.47M – $4.63M
NOI $277,833 @ 7.0% cap · market cap 11,225.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 12205, NY
27,168
Population
12,061
Households
2.3
Avg Household Size
45
Median Age
36%
College-Educated
94%
High-School Grad
15.4 sq mi
ZIP Area
1,764
Density / Sq Mi
$89,270
Median Household Income
$54,184
Median Earnings
$1,405
Median Rent
$264,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
Similar Off Market Nearby
- Self-Storage at U-Haul — 2043-45 Central Ave, Albany, NY 12205
- Central Self Storage — 2113 Central Ave, Schenectady, NY 12304
Frequently Asked Questions
What type of property is this?
Warehouse - An open work area and shared restrooms complement the garage configuration.
Where is this warehouse located?
The property is located at 1995 Central Avenue #1 Colonie, NY.
What are key features of this property?
This property features: Large open warehouse room with appx 14' ceilings; Garage with a 12' overhead door; Restrooms in landlord‑maintained common area
