Multi-Tenant Office Building For
For Sale
$7,500,000
5 Columbia Circle, Albany, NY
Well-maintained multi-tenant office building with basement storage for sale.
Property Size57,035 SF
Price / SF$153.06
Days on Market330
Property Features for 5 Columbia Circle
General Information
Standard status
Active
Size
57,035 SF
Property subtype
Office
Building Details
Building Size
57,035 SF
Listing Agency:
Pyramidbrokerage
(518) 489-9199
Listed By:
Pyramid Brokerage Albany
(518) 489-9199
Source:
Pyramidbrokerage
Added: Sep 25, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:46AM
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 Pyramidbrokerage
Investment Insights
Based on property information with market context.
This multi-tenant office building offers approximately 49,000 rentable square feet of space. The property includes a partial basement, which is sprinklered and serviced by an elevator, suitable for storage purposes. The basement storage area measures approximately 8,035 square feet and is not included in the building's total square footage. The building has been well-maintained and features upgrades including newer HVAC and roof systems, bathroom upgrades, and lobby improvements. The owner-used building is equipped with Key FOB access and a loading dock. It is situated in a quiet, professional campus that is centrally located near highways and retail areas.
Key Highlights
- Well‑maintained and upgraded building with newer HVAC and roof.
- +/-49,000 RSF multi‑tenant office building in a professional campus.
- Convenient location central to highways and retail.
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
$670,629
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%
$13,412,580
$13.4M
Cap Rate 7%
$9,580,414
$9.6M
Cap Rate 9%
$7,451,433
$7.5M
Market Conditions
NOI Build-Up for 49,000 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
−$193.6K −$3.95/SF
EGI
$894.2K $18.25/SF
− OpEx
−$223.5K −$4.56/SF
NOI
$670.6K $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%
$13,412,580
Cap Rate 7%
$9,580,414
Cap Rate 9%
$7,451,433
Alternative Uses
Best Use
Office B
$9.58M
$8.38M – $11.18M
NOI $670,629 @ 7.0% cap · market cap 8.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.93M
$11.31M – $15.08M
NOI $904,932 @ 7.0% cap · market cap 12.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
Explore this area
Business Placement
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 - Well-maintained multi-tenant office building with basement storage for sale.
Where is this office building located?
The property is located at 5 Columbia Circle 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: Well‑maintained and upgraded building with newer HVAC and roof.; +/-49,000 RSF multi‑tenant office building in a professional campus.; Convenient location central to highways and retail.
