Loudon Plaza Mixed-Use
For Sale
Contact for pricing
350 Northern Blvd, Albany, NY 12204
Premier mixed-use retail and office property in Albany, NY.
Property Size59,379 SF
Price / SF$202.07
Days on Market176
Property Features for 350 Northern Blvd
General Information
Standard status
Active
Size
59,379 SF
Property subtype
Mixed Use
Zoning
MU-CH
Occupancy
100%
Building Details
Year Built
1953
Year Renovated
2017
Buildings
1
Stories
3
Listing Agency:
CBRE - Albany
(518) 466-8656
Listed By:
Michael Del Vecchio · License #1049120211
Source:
Crexi
Added: Feb 25
Changed: Aug 14
Last Checked: Aug 19 at 1:56AM
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
Investment Insights
Based on property information with market context.
Loudon Plaza, located at 350-359 Northern Boulevard in Albany, NY, is a 59,379-square-foot mixed-use property featuring retail and office spaces. Situated at the border of Loudonville and Albany, the property provides access to I-90, I-787, and I-87. The building was renovated from 2017 to 2020, resulting in a modern, energy-efficient asset. The plaza is located adjacent to Albany Memorial Hospital and is surrounded by residential neighborhoods, retail, and office developments.
Key Highlights
- Premier mixed‑use retail and office property totaling 59,379 square feet.
- Comprehensive renovation from 2017–2020 resulting in a modern, energy‑efficient, and low‑maintenance building.
- Exceptional location at the border of Loudonville and Albany, NY.
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
$699,856
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
5.83%
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%
$13,997,120
$14.0M
Cap Rate 7%
$9,997,943
$10.0M
Cap Rate 9%
$7,776,178
$7.8M
Market Conditions
NOI Build-Up for 59,379 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
$1.25M $21.00/SF
− Vacancy
−$127.2K −$2.14/SF
EGI
$1.12M $18.86/SF
− OpEx
−$419.9K −$7.07/SF
NOI
$699.9K $11.79/SF
Area
Albany, NY
Vacancy
10.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
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%
$13,997,120
Cap Rate 7%
$9,997,943
Cap Rate 9%
$7,776,178
Alternative Uses
Best Use
Mixed Use
$10.00M
$8.75M – $11.66M
NOI $699,856 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.67M
$13.71M – $18.28M
NOI $1,096,611 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
Explore this area
Business Placement
Demographics for 12204, NY
7,818
Population
4,290
Households
1.8
Avg Household Size
37
Median Age
39%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
1,907
Density / Sq Mi
$75,197
Median Household Income
$48,911
Median Earnings
$1,294
Median Rent
$226,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Premier mixed-use retail and office property in Albany, NY.
Where is this mixed-use property located?
The property is located at 350 Northern Blvd Albany, NY.
What is the asking price?
The asking price for this property is $11,999,000.
What are key features of this property?
This property features: Premier mixed‑use retail and office property totaling 59,379 square feet.; Comprehensive renovation from 2017–2020 resulting in a modern, energy‑efficient, and low‑maintenance building.; Exceptional location at the border of Loudonville and Albany, NY.
