Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Listing Agency: BHHS - Blake REALTORS | Albany Show Phone

Listed By: Karen Zalewski-Wildzunas · License #10401299136 Show Phone

Source: Moodyscre

Added: Jul 16 Changed: Oct 10 Last Checked: Oct 14 at 10:48PM

Report an Issue

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 BHHS - Blake REALTORS | Albany

Investment Insights

Based on property information with market context.

This well-maintained office property includes a main building plus a detached rear annex, creating flexible space for professional offices, creative users, or multi-tenant use.

Located at 255 Lark St in Albany’s Lark Street district, the property is surrounded by restaurants, retail, government offices, and residential density, with convenient access to downtown and major routes.

Additional onsite parking is available for five vehicles, supporting day-to-day visits and tenant needs.

Key Highlights

• Well‑maintained office property in Albany’s Lark Street district with a main building plus a detached rear annex
• Detached rear annex provides flexible space for professional offices, creative users, or multi‑tenant use
• On‑site parking for five (5) vehicles

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,650

Cap Rate

8.61%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$773,000 $773.0K

Cap Rate 7%

$552,143 $552.1K

Cap Rate 9%

$429,444 $429.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,824 SF

Gross rent

$62.7K $22.20/SF

− Vacancy

−$11.2K −$3.95/SF

EGI

$51.5K $18.25/SF

− OpEx

−$12.9K −$4.56/SF

NOI

$38.7K $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%

$773,000

Cap Rate 7%

$552,143

Cap Rate 9%

$429,444

Alternative Uses

Best Use

Office B

$552.1K

$483.1K – $644.2K (±1% cap)

NOI $38,650 @ 7.0% cap · market cap 8.61%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$745.1K

$651.9K – $869.2K (±1% cap)

NOI $52,154 @ 7.0% cap · market cap 11.62%

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

Tulchinsky Victor DO ... Pediatrician Pine Hills Family ... Medical Clinic Victor Tulchinsky Pediatrician 255 Lark Street, ... Real Estate Agency 8TWO5 INC.(MUSTASH COLLECTION) Clothing Store

Suggested Use

Top Pick Furniture & Home Goods Carpet & Flooring Store Electrical Service (Bike/Boat/Book/etc) Store Pet Grooming Service Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

4,369

Businesses Nearby

Explore this area Business Placement

Demographics for 12210, NY

10,559

Population

6,580

Households

1.6

Avg Household Size

33

Median Age

44%

College-Educated

91%

High-School Grad

1.1 sq mi

ZIP Area

9,599

Density / Sq Mi

$55,873

Median Household Income

$35,439

Median Earnings

$1,110

Median Rent

$217,500

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Similar For Sale Nearby

See more

Medical Office Condominium

63 Shaker Road, Albany, NY 12204

$480,000

3,287 SF

View details

Medical Office Condominium

B04-63 Shaker Rd, Albany, NY 12204

$480,000

3,287 SF

View details

Downtown Albany Office Condo For Sale

252 Hudson Avenue, Albany, NY

$299,000

2,704 SF

View details

Office Building with Conversion Potential

519 Clinton Avenue, Albany, NY 12206

$270,000

3,376 SF

View details

Mixed-Use Office Building

1032 Central Avenue, Albany, NY 12205

$475,000

1,721 SF

View details

Medical Office Building with Gated Parking

854 Madison Avenue, Albany, NY 12208

$429,900

4,984 SF

View details

Furnished Office Building

1840 Western Avenue, Albany, NY 12203

$325,000

View details

Albany Office Space For Sale

252 A Hudson Ave, Albany, NY

Contact for pricing

2,704 SF

View details

Single Story Office For Sale

19 Aviation Road, Albany, NY

$997,500

1,430 SF

View details

Multi-Tenant Office Building For Sale

251 New Karner Road, Albany, NY 12205

$1,900,000

1,250 SF

View details

Single-Story Mixed-Use Building For Sale

8 Mountain View Avenue, Albany, NY

$755,000

10,944 SF

View details

Elevator-Served Office Building

409 New Karner Road, Albany, NY 12205

$779,999

11,200 SF

View details

Frequently Asked Questions

What type of property is this?

Office building - Well-maintained office building with a detached rear annex and on-site parking for five vehicles.

Where is this office building located?

The property is located at 255 Lark St Albany, NY.

What is the asking price?

The asking price for this property is $449,000.

What are key features of this property?

This property features: Well‑maintained office property in Albany’s Lark Street district with a main building plus a detached rear annex; Detached rear annex provides flexible space for professional offices, creative users, or multi‑tenant use; On‑site parking for five (5) vehicles