Automotive Dealership Flex
For Sale
Contact for pricing
2056 Central Ave, Albany, NY 12205
Former high-end auto dealership with a front showroom, offices, and a service center with three drive-in doors.
Property Size9,247 SF
Lot Size1.84 Acres
Price / SF$270.25
Days on Market310
Property Features for 2056 Central Ave
General Information
Standard status
Active
Size
9,247 SF
Total Parking Spaces
26
Lot size
1.84 Acres
Property subtype
RETAIL
Additional Details
Traffic Count
21,000 vehicles/day
Drive-In Doors
3
Listing Agency:
Carrow Real Estate Services
(518) 462-7491
Listed By:
Kyle Bradley · License #10401359503
(845) 325-1568
Source:
Moodyscre
Added: Nov 7, 2025
Changed: Aug 14
Last Checked: Sep 13 at 8:20AM
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 Carrow Real Estate Services
Investment Insights
Based on property information with market context.
This property offers approximately 9,247 square feet of former high-end auto dealership and flex space. The layout includes a front showroom with six private offices, plus a service center featuring three drive-in doors. Additional service-center amenities include a private office and a full bathroom with a shower. Outside, there is a 26-space surface parking lot, and the property is situated on approximately 1.59 acres, with a separate paved rear lot included at 9 Marilou Street (.25 acre).
The building benefits from visibility along Central Avenue, with 263 feet of frontage and reported over 21,000 ADTV. It is located within an auto dealership corridor with fifteen dealerships within a three-mile radius.
The property supports multiple commercial uses based on the showroom and service-oriented configuration, combined with significant paved parking and the included rear lot.
The building benefits from visibility along Central Avenue, with 263 feet of frontage and reported over 21,000 ADTV. It is located within an auto dealership corridor with fifteen dealerships within a three-mile radius.
The property supports multiple commercial uses based on the showroom and service-oriented configuration, combined with significant paved parking and the included rear lot.
Key Highlights
- +/- 9,247 SF former high‑end auto dealership for sale with front showroom, offices, and service center
- Central Avenue visibility with 263 feet of frontage and 21,000+ ADTV
- Service center includes three (3) drive‑in doors plus private office and full bathroom with shower
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
$111,727
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
4.47%
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%
$2,234,540
$2.2M
Cap Rate 7%
$1,596,100
$1.6M
Cap Rate 9%
$1,241,411
$1.2M
Market Conditions
NOI Build-Up for 9,247 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
$172.0K $18.60/SF
− Vacancy
−$12.4K −$1.34/SF
EGI
$159.6K $17.26/SF
− OpEx
−$47.9K −$5.18/SF
NOI
$111.7K $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%
$2,234,540
Cap Rate 7%
$1,596,100
Cap Rate 9%
$1,241,411
Alternative Uses
Best Use
Retail
$1.60M
$1.40M – $1.86M
NOI $111,727 @ 7.0% cap · market cap 4.47%
Second Best
Flex RnD
$1.45M
$1.27M – $1.69M
NOI $101,623 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$2.44M
$2.13M – $2.85M
NOI $170,774 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Drive-in doors
21,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
202
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Auto shop - Former high-end auto dealership with a front showroom, offices, and a service center with three drive-in doors.
Where is this auto shop located?
The property is located at 2056 Central Ave Albany, NY.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: +/- 9,247 SF former high‑end auto dealership for sale with front showroom, offices, and service center; Central Avenue visibility with 263 feet of frontage and 21,000+ ADTV; Service center includes three (3) drive‑in doors plus private office and full bathroom with shower
