Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    39 Wallace St Scotia, NY 12302

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contract
    Contact for pricing

    Two-story, 10,000 sq ft former senior living facility.

    Property size:
    10,200 SF
    Lot size:
    0.64 Acres

    Property Features for 39 Wallace St

    General Information

    Standard status
    Contract
    Size
    10,200 SF
    Lot size
    0.64 Acres

    Building Details

    Year built
    1955

    We can help!

    Listing Contact
    Joseph Mulone
    Joseph Mulone
    Source: Corcoran

    Listing Agency: THE PROPERTY SHOP Listing Agent: Joseph Mulone

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Former Senior Living Facility

    This former senior living facility, totaling 10,000 sq. ft. across two floors, is in good condition and suitable for reopening by a qualified operator. The building includes an elevator and wheelchair ramp. The property is located in a quiet village neighborhood with convenient access to major highways. The building is vinyl sided over concrete. It features a lit parking lot accommodating 15 cars, along with outdoor space that includes a screened gazebo. The basement houses a full kitchen and dining room. All mechanical systems are functioning. The building is equipped with Verizon phone service, Spectrum cable, and closed-circuit cameras in common areas. Each room has electric heat and a window A/C unit, while open areas are equipped with mini-split units. The property is currently vacant and available for showings. The property could be re-imagined into another use.
    Location Intelligence

    Current Use by Public Records

    Scotia Mansion HFA Nursing Home

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Scotia
    County
    Schenectady
    State
    New York
    Longitude
    -73.9604451
    Latitude
    42.8331426

    Nearby Similar for Sale

    • Contact for pricing
      Pending

      Former Senior Living Facility

      Two-story, 10,000 SF former senior living facility in Scotia, NY.
      39 Wallace St, Scotia, NY 12302
      View Details
    • $8,248,076
      11,945 SF

      NNN Lease CVS Pharmacy

      CVS Pharmacy with long-term absolute NNN lease.
      241 Mohawk Ave, Scotia, NY 12302
      View Details
    • $1,400,000
      23,754 SF

      Scotia Industrial Flex Space

      ±23,754 SF Flex Space, Owner/User Opportunity
      52 Market St, Scotia, NY 12302
      View Details
    • $2,250,000
      14,600 SF

      Prime Scotia Industrial Space

      14,600 SF Warehouse, $2.25M
      9 Tower Rd, Scotia, NY 12302
      View Details

    FAQs

    What type of property is this?
    Senior housing / Retirement Home - Two-story, 10,000 sq ft former senior living facility.
    Where is this senior housing / retirement home located?
    The property is located at 39 Wallace St Scotia, NY.
    What are key features of this property?
    This property features: - Ready for immediate re-opening as a senior living facility; - Easily accessible location near major highways; - 10,000 sq. ft. two-story building with elevator and wheelchair ramp
    (518) 813-6514
    Request Owner's contact information
    39 Wallace St Scotia, NY 12302
    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.
    39 Wallace St
    Scotia, NY 12302
    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
    39 Wallace St Scotia, NY 12302
    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

    We can help!
    Listing Contact
    Joseph Mulone
    Joseph Mulone
    Real Estate License ID: 1040120168
    (518) 813-6514 (518) 396-5850
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!