Two-Story Office Building with
For Sale
$600,000
408 Kenwood Avenue, Delmar, NY 12054
Two-story office building with an apartment and approximately 3,224 SF total size, offered for sale.
Property Size3,224 SF
Price / SF$186.10
Days on Market94
Property Features for 408 Kenwood Avenue
General Information
Standard status
Active
Size
3,224 SF
Property subtype
Office
Building Details
Stories
2
Listing Agency:
CBRE | Albany
Listed By:
Brooke Stack · License #Associate Real Estate Broker
(518) 727-0862
Source:
Cbre
Added: Jul 20
Changed: Oct 6
Last Checked: Oct 20 at 5:58PM
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
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Investment Insights
Based on property information with market context.
Offered for sale is a two-story office building with an apartment in Delmar’s Four Corners area. The property totals approximately 3,224 SF and is configured to combine office space with an on-site residential unit.
Located at 408 Kenwood Avenue in Delmar, the building is described as highly visible, supporting business-facing storefront and customer-facing presence.
This is a single property offering both workplace and apartment space within the same building footprint.
Located at 408 Kenwood Avenue in Delmar, the building is described as highly visible, supporting business-facing storefront and customer-facing presence.
This is a single property offering both workplace and apartment space within the same building footprint.
Key Highlights
- 3,224 SF two‑story office building for sale
- Includes an apartment
- Located in the heart of Delmar's Four Corners
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,791
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$995,820
$995.8K
Cap Rate 7%
$711,300
$711.3K
Cap Rate 9%
$553,233
$553.2K
Market Conditions
NOI Build-Up for 3,224 SF
Gross rent
$85.1K $26.40/SF
− Vacancy
−$18.7K −$5.81/SF
EGI
$66.4K $20.59/SF
− OpEx
−$16.6K −$5.15/SF
NOI
$49.8K $15.44/SF
Area
Albany County, NY
Vacancy
22.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$995,820
Cap Rate 7%
$711,300
Cap Rate 9%
$553,233
Alternative Uses
Best Use
Office B
$711.3K
$622.4K – $829.9K
NOI $49,791 @ 7.0% cap · market cap 8.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$880.3K – $1.17M
NOI $70,422 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
501
Businesses Nearby
Explore this area
Business Placement
Demographics for 12054, NY
17,282
Population
7,221
Households
2.4
Avg Household Size
46
Median Age
68%
College-Educated
98%
High-School Grad
15.5 sq mi
ZIP Area
1,115
Density / Sq Mi
$128,684
Median Household Income
$69,853
Median Earnings
$1,658
Median Rent
$334,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with an apartment and approximately 3,224 SF total size, offered for sale.
Where is this office building located?
The property is located at 408 Kenwood Avenue Delmar, NY.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 3,224 SF two‑story office building for sale; Includes an apartment; Located in the heart of Delmar's Four Corners
