Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail or Office Bank Conversion Title is generated by Realmo AI

    339 Aviation Rd, Queensbury, NY 12804

    View on Map
    Claim this Listing
    For Lease
    $14 SF/Yr $6,177/Mo (calc)

    Bank-turned retail/office space with drive-through window and dedicated reception, offices, and amenities.

    Property size:
    5,295 SF
    Added:
    Jul 15, 2024
    Days on Market:
    692
    Last Refresh:
    Jun 5 at 2:15 am

    Property Features for 339 Aviation Rd

    General Information

    Standard status
    Active
    Size
    5,295 SF

    We can help!

    Listing Contact
    Robert L Sears

    Listing agent Robert L Sears License #30SE0274629

    Listing office Berkshire Hathaway HomeServices Blake, REALTORS

    Listing date Jul 15, 2024

    Source Exprealty

    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 Berkshire Hathaway HomeServices Blake, REALTORS

    HighLights

    • Bank‑turned retail/office space with 2,143 SF, previously used as a bank
    • Drive‑through window included
    • Includes dedicated reception counter area, conference room offices, bathroom, and kitchenette
    • Located next door to Stewart's Convenient Store and close to I‑87 Ex. 19
    • Lease rate $14.00/SF plus utilities; taxes, insurance, and common area charges prorated after the first year

    Overview

    The property offers a bank conversion layout suitable for either retail or office use. The space includes a drive-through window, conference room offices, a reception counter area, a bathroom, and a kitchenette, providing multiple built-in components for customer-facing operations and internal workspaces. The unit is available and was previously used as a bank.

    The location is positioned next door to Stewart’s Convenient Store, with proximity to Route 87 Exit 19. This setup supports convenient access for walk-in and drive-through customers, while keeping the tenancy options flexible for retail users or professional office teams.

    As a practical fit, the space is well suited for businesses that benefit from a reception-and-office configuration plus a drive-through element. The combination of customer intake space, private office rooms, and back-of-house conveniences such as a kitchenette can reduce upfront buildout needs for qualified tenants. Utilities are required in addition to rent, with shared costs and taxes/insurance subject to adjustment after the first year.
    Location Intelligence

    Current Use by Public Records

    Richard E Jones ... Architect Discount Tire Auto Parts Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Queensbury
    County
    Warren
    State
    New York
    Longitude
    -73.6980031
    Latitude
    43.3305572

    Nearby Similar for Lease

    • $1,800/Mo
      4,936 SF

      Queensbury Commercial Space For Lease

      1,516 SF commercial space for lease in Queensbury, NY.
      1212 Bay Road, Queensbury, NY 12804
      View Details
    • $17 SF/Yr
      4,800 SF

      Visible Commercial Space For Rent

      1354 SF commercial space available in visible, accessible location.
      74 Quaker Road, Queensbury, NY 12804
      View Details
    • $12 SF/Yr
      4,843 SF

      Queensbury Office Space For Lease

      1,490 SF office space available in prominent Queensbury location.
      357 Bay Road, Queensbury, NY 12804
      View Details
    • $10 SF/Yr
      12,000 SF

      Queensbury Warehouse Space For Lease

      4,000 SF warehouse space available near I-87.
      94 Big Boom Road, Queensbury, NY 12804
      View Details
    • $13 SF/Yr
      35,775 SF

      Queensbury Retail Space For Rent

      Retail space available in Meadowbrook Plaza with high traffic exposure.
      324 Quaker Road, Queensbury, NY 12804
      View Details
    • $10 SF/Yr
      9,440 SF

      Queensbury Commercial Space For Rent

      Versatile commercial space suitable for office, retail, or storage.
      281 Dix Avenue, Queensbury, NY 12804
      View Details
    • $14 SF/Yr
      7,786 SF

      Turnkey Dental Office for Lease

      Class A dental office available for immediate lease in Queensbury.
      16 Hunter Brook Lane, Queensbury, NY 12804
      View Details
    • $12 SF/Yr
      2,400 SF

      Retail Space on Quaker Road

      Retail space for lease with high traffic and road frontage.
      324 Quaker Road, Queensbury, NY
      View Details
    • $12 SF/Yr
      4,843 SF

      Queensbury Office Space For Lease

      Office space available in a prominent Queensbury location.
      1-357 Bay Rd, Queensbury, NY
      View Details
    • $16 SF/Yr
      4,750 SF

      Retail Space on Quaker Road

      Retail space available in a visible, accessible location.
      74 Quaker Road, Queensbury, NY 12804
      View Details
    • $1,500/Mo
      924 SF

      Freestanding Office Building For Lease

      924 SF freestanding office building with parking and central air.
      565 Bay Road, Queensbury, NY, 12804
      View Details
    • $12 SF/Yr
      4,843 SF

      Office Space For Lease

      Office space available for lease in prominent location.
      357 Bay Road #1, Queensbury, NY 12804
      View Details

    FAQs

    What type of property is this?
    Bank - Bank-turned retail/office space with drive-through window and dedicated reception, offices, and amenities.
    Where is this bank located?
    The property is located at 339 Aviation Rd Queensbury, NY.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: Bank‑turned retail/office space with 2,143 SF, previously used as a bank; Drive‑through window included; Includes dedicated reception counter area, conference room offices, bathroom, and kitchenette
    (518) 793-7940
    We can help!
    Listing Contact
    Robert L Sears
    Real Estate License ID: 30SE0274629
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    339 Aviation Rd, Queensbury, NY
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!