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 Market321
Property Features for 240-242 Wolf Road
General Information
Standard status
Pending
Size
7,700 SF
Lot size
1.40 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$30,864
Amenities
Central air
Metal Roof
Patio
Central Air Cooling
Cleared
Concrete Flooring
Forced Air Heating
Level
Lighting
Natural Gas Heating
Off Street
Paved
Private
Road Frontage
Shingle Roof
Tile Flooring
Building Details
Year Built
1975
Listing Agency:
HOWARD HANNA CAPITAL INC
(518) 489-1000
Listed By:
CHARLES CURTO · License #10301206236
Source:
Corcoran
Added: Sep 29, 2025
Changed: Aug 8
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
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
$106,684
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
5.63%
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%
$2,133,680
$2.1M
Cap Rate 7%
$1,524,057
$1.5M
Cap Rate 9%
$1,185,378
$1.2M
Market Conditions
NOI Build-Up for 7,700 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
$152.5K $19.80/SF
− Vacancy
−$10.2K −$1.33/SF
EGI
$142.2K $18.47/SF
− OpEx
−$35.6K −$4.62/SF
NOI
$106.7K $13.86/SF
Area
Albany, NY
Vacancy
6.70%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
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%
$2,133,680
Cap Rate 7%
$1,524,057
Cap Rate 9%
$1,185,378
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.
