Wolf Road Retail and
For Sale
$1,895,000
Pending
240-242 Wolf Road, Colonie, NY 12205
Two buildings on 1.4 acres in Albany retail hub.
Property Size7,700 SF
Lot Size1.40 Acres
Days on Market306
Property Features for 240-242 Wolf Road
General Information
Standard status
Pending
Size
7,700 SF
Lot size
1.40 Acres
Property subtype
Commercial
Building Details
Year Built
1975
Listing Agency:
HOWARD HANNA CAPITAL INC
(518) 489-1000
Listed By:
CHARLES CURTO
Source:
Corcoran
Added: Sep 29, 2025
Changed: Jul 10
Last Checked: Jul 23 at 9:31AM
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
Investment Insights
Based on property information with market context.
This commercial property is located in the heart of the Eastern New York retail hub in Albany. The property includes two buildings on a single deed, situated on 1.4 acres. One building offers 5,500 square feet of retail space with 2 loading docks. The second building is a 2,200 square foot restaurant and bar with a large deck, occupied by a long-term tenant. The property is located on Wolf Road, which sees over 26,000 cars per day, and is surrounded by national restaurants, retail establishments, and hotels. There is ample parking available for over 60 cars. The property provides convenient access to major highways and Albany International Airport.
Key Highlights
- Prime location on busy Wolf Road (26,000+ cars/day) in Albany's retail hub.
- Two buildings on a single deed: 5,500 SF retail space and 2,200 SF restaurant/bar.
- Ample parking with space for 60+ cars.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $152.5k | $19.80 |
| − Vacancy | −$10.2k | −$1.33 |
| EGI | $142.2k | $18.47 |
| − OpEx | −$35.6k | −$4.62 |
| NOI | $106.7k | $13.86 |
7,700 SF · lease $19.80/SF/yr · vacancy 6.70% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.52M
$1.33M – $1.78M
NOI $106,684 @ 7.0% cap · market cap 5.63%
Second Best
Retail
$1.33M
$1.16M – $1.55M
NOI $93,036 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,204 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
952
Businesses Nearby
602k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 28%
Dining 26%
Superstores 20%
Shops & Services 15%
Target
Superstores
120,510 visits/mo
0.4 miles
Macy's
Apparel
85,862 visits/mo
0.3 miles
The Cheesecake Factory
Dining
60,231 visits/mo
0.2 miles
Marshalls
Apparel
46,965 visits/mo
0.3 miles
Jo-Ann Fabric and Craft
Shops & Services
32,249 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two buildings on 1.4 acres in Albany retail hub.
Where is this retail space located?
The property is located at 240-242 Wolf Road Colonie, NY.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Prime location on busy Wolf Road (26,000+ cars/day) in Albany's retail hub.; Two buildings on a single deed: **5,500 SF retail space** and **2,200 SF restaurant/bar**.; Ample parking with space for 60+ cars.
