Office Building with Loading
For Sale
Contact for pricing
5 Columbia Cir, Albany, NY 12203
Multi-tenant office building with long-term credit tenants, wet sprinkler system, passenger elevator, and parking for 128 vehicles.
Property Size48,972 SF
Price / SF$153.15
Days on Market924
Property Features for 5 Columbia Cir
General Information
Standard status
Active
Size
48,972 SF
Total Parking Spaces
228
Property subtype
OFFICE
Warehouse & Industrial
Dock-High Doors
1
Sprinkler System
Yes
Amenities
catered cafe
Building Details
Tenancy
Multi
Listing Agency:
CBRE | Albany
(518) 452-2700
Listed By:
Laurie Tylenda · License #10301205946
(518) 429-6175
Source:
Moodyscre
Added: Mar 4, 2024
Changed: Sep 3
Last Checked: Sep 14 at 9:09AM
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.
This office building features three long-term, credit tenants with staggered lease terms. The property includes one passenger elevator, a wet sprinkler system (including the basement), and one loading dock. Continued capital replacements and upgrading are noted, and the roof was replaced in 2017. A catered cafe at 7 Columbia Circle is available for all tenants.
The building is located at 5 Columbia Cir in Albany, NY, with access to CDTA transportation and on-site parking for approximately 128 vehicles.
For buyers and brokers evaluating steadier income, the current tenancy structure is supported by long-term leases and a property setup designed for ongoing day-to-day operations, including elevator service and loading access.
The building is located at 5 Columbia Cir in Albany, NY, with access to CDTA transportation and on-site parking for approximately 128 vehicles.
For buyers and brokers evaluating steadier income, the current tenancy structure is supported by long-term leases and a property setup designed for ongoing day-to-day operations, including elevator service and loading access.
Key Highlights
- Multi‑tenant office building with three long‑term, credit tenants
- Wet sprinkler system, including basement
- Passenger elevator plus one loading dock
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
$670,245
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
8.94%
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%
$13,404,900
$13.4M
Cap Rate 7%
$9,574,929
$9.6M
Cap Rate 9%
$7,447,167
$7.4M
Market Conditions
NOI Build-Up for 48,972 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
$1.09M $22.20/SF
− Vacancy
−$193.5K −$3.95/SF
EGI
$893.7K $18.25/SF
− OpEx
−$223.4K −$4.56/SF
NOI
$670.2K $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 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%
$13,404,900
Cap Rate 7%
$9,574,929
Cap Rate 9%
$7,447,167
Alternative Uses
Best Use
Office B
$9.57M
$8.38M – $11.17M
NOI $670,245 @ 7.0% cap · market cap 8.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.92M
$11.31M – $15.07M
NOI $904,415 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Dock-high doors
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
Explore this area
Business Placement
Demographics for 12203, NY
28,210
Population
14,755
Households
1.9
Avg Household Size
38
Median Age
54%
College-Educated
95%
High-School Grad
10.4 sq mi
ZIP Area
2,713
Density / Sq Mi
$80,055
Median Household Income
$44,412
Median Earnings
$1,342
Median Rent
$258,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office building with long-term credit tenants, wet sprinkler system, passenger elevator, and parking for 128 vehicles.
Where is this office building located?
The property is located at 5 Columbia Cir Albany, NY.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: Multi‑tenant office building with three long‑term, credit tenants; Wet sprinkler system, including basement; Passenger elevator plus one loading dock
