Single-Story Office
For Sale
Contact for pricing
21 Aviation Road, Albany, NY 12205
Standalone office property with multiple available suites and existing occupancy in Albany’s Wolf Road business corridor.
Property Size24,558 SF
Price / SF$0.00
Days on Market139
Property Features for 21 Aviation Road
General Information
Standard status
Active
Size
24,558 SF
Property subtype
Office
Properties For Sale
at 21 Aviation Road Contact usSpace 2 Available
Size
2,650 SF
2650 SF
Contact us Space 3 Available
Size
4,437 SF
4,437 SF
Contact us Suite 1 Available
Size
900 SF
900 SF
Contact us
Listing Agency:
CBRE - Albany
Listed By:
Dan Simpson · License #Associate Real Estate Broker
(518) 365-0990
Source:
Cbre
Added: Jun 2
Changed: Oct 4
Last Checked: Oct 16 at 7:09AM
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 CBRE - Albany
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This single-story office building offers approximately 24,558 SF of space and is currently about 64% occupied. Available suites include approximately 900 SF, 2,650 SF, and 4,437 SF, providing options for additional occupants or an owner-user component. The property can be acquired independently or alongside other assets in the portfolio.
Located at 21 Aviation Road in Albany, the building sits within the Wolf Road Business and Services Corridor. Income, expenses, and rent rolls are available to qualified purchasers who complete a confidentiality or nondisclosure agreement.
Located at 21 Aviation Road in Albany, the building sits within the Wolf Road Business and Services Corridor. Income, expenses, and rent rolls are available to qualified purchasers who complete a confidentiality or nondisclosure agreement.
Key Highlights
- ±24,558 SF single‑story office building
- ±64% current occupancy
- Available suites of ±900 SF, ±2,650 SF, and ±4,437 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$336,108
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,722,160
$6.7M
Cap Rate 7%
$4,801,543
$4.8M
Cap Rate 9%
$3,734,533
$3.7M
Market Conditions
NOI Build-Up for 24,558 SF
Gross rent
$545.2K $22.20/SF
− Vacancy
−$97.0K −$3.95/SF
EGI
$448.1K $18.25/SF
− OpEx
−$112.0K −$4.56/SF
NOI
$336.1K $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%
$6,722,160
Cap Rate 7%
$4,801,543
Cap Rate 9%
$3,734,533
Alternative Uses
Best Use
Office B
$4.80M
$4.20M – $5.60M
NOI $336,108 @ 7.0% cap · market cap 2,168,438.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.48M
$5.67M – $7.56M
NOI $453,537 @ 7.0% cap · market cap 2,926,045.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,164
Businesses Nearby
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 Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Standalone office property with multiple available suites and existing occupancy in Albany’s Wolf Road business corridor.
Where is this office building located?
The property is located at 21 Aviation Road Albany, NY.
What are key features of this property?
This property features: ±24,558 SF single‑story office building; ±64% current occupancy; Available suites of ±900 SF, ±2,650 SF, and ±4,437 SF
