Add Listing
    For Lease
    • 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

    514 FULTON Street Troy, NY 12180

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1.00 SF/Yr

    Unique office space in a National Historic Landmark building.

    Type:Office
    Added:
    Apr 1, 2026
    Days on Market:
    22
    Last Refresh:
    Apr 1 at 8:03 pm

    Property Features for 514 FULTON Street

    General Information

    Standard status
    Active
    Property subtype
    Office

    We can help!

    Listing Contact
    Pyramid Brokerage Albany

    Listing agent Pyramid Brokerage Albany

    Listing office Pyramidbrokerage

    Listing date Apr 1, 2026

    Source Pyramidbrokerage

    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

    Overview

    Historic Office Space For Rent

    The Gurley Building, a National Historic Landmark, once housed one of America's first technology firms, Gurley Precision Instruments. The 2nd and 3rd floors offer contemporary office space with character. Architectural features include arched grand windows, brick walls, and exposed beams. The layout includes over 25 private offices, more than 4 conference rooms, and 2 kitchenettes. Private restrooms are available. The space offers open areas for workstations, a courtyard and atrium, and off-street parking. Tenant is responsible for paying for electricity and gas. The space is suitable for R&D, software developers, architecture and design firms, energy and scientific sectors, and administrative offices. The property is located on Fulton Street in Troy, NY.
    Location Intelligence

    Current Use by Public Records

    W. & L. E. ... Tour Operator All Seasons Cooling ... HVAC Service Redstar Plumbing & Heating Plumbing Service Gurley Precision Instruments Industrial Manufacturer

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Albany
    State
    New York
    Longitude
    -73.687134
    Latitude
    42.7323421

    Nearby Similar for Lease

    • Contact for pricing

      Downtown Troy Commercial Space

      Commercial space for lease in downtown Troy.
      81 Fourth Street, Troy, NY 12180
      View Details
    • Contact for pricing

      Troy Retail Space For Lease

      Prime retail space in busy Troy shopping plaza.
      7 Northern Drive, Troy, NY 12182
      View Details
    • Contact for pricing

      Retail Space in Historic Troy

      1,300 SF retail space in up-and-coming Troy neighborhood.
      342 Congress Street, Troy, NY 12180
      View Details
    • Contact for pricing

      Downtown Troy Commercial Space Available

      Versatile commercial space in downtown Troy with high visibility.
      84 Ferry Street, Troy, NY 12180
      View Details
    • Contact for pricing

      Downtown Troy Commercial Space

      Commercial space for lease in downtown Troy, approximately 1000 SF.
      74-76 Congress Street unit: 1, Troy, NY 12180
      View Details
    • $18/mo

      Redevelopment Opportunity in Troy, NY

      26.69-acre campus with 69,000 SF building for rehabilitation.
      125 Bloomingrove Drive, Troy, NY 12180
      View Details
    • $12/mo

      Retail Space in High-Traffic Location

      Retail or office space available in a convenient, accessible location.
      369 2nd Avenue, Troy, NY 12182
      View Details
    • Contact for pricing

      Professional Office Space on Hoosick

      Professional office space available for rent on Hoosick Street.
      333 Hoosick Street, Troy, NY 12180
      View Details
    • Contact for pricing

      Versatile Space with Ample Parking

      Adaptable 3200SF space suitable for various business types.
      2113 State Highway 7, Pittstown, NY 12180
      View Details
    • Contact for pricing

      Industrial Building in Green Island

      6,000 SF industrial building with warehouse and office space.
      15 Lower Hudson Avenue, Troy, NY, 12183
      View Details
    • $21/mo

      Downtown Office Space For Lease

      Full floor office space available in downtown Troy.
      500 Federal Street, Troy, NY, 12180
      View Details
    • Contact for pricing

      Downtown Troy Class A Office

      Class A office space in downtown Troy for lease.
      81 4th Street, Troy, NY 12180
      View Details

    FAQs

    What type of property is this?
    Office units - Unique office space in a National Historic Landmark building.
    Where is this office units located?
    The property is located at 514 FULTON Street Troy, NY.
    What is the lease rate?
    The lease rate is $1.00 SF/Yr.
    What are key features of this property?
    This property features: National Historic Landmark status and **unique architectural character (arched windows, brick walls, exposed beams)**.; Ample off‑street parking.; **25+ private offices and 4+ conference rooms**.
    (518) 489-9199
    We can help!
    Listing Contact
    Pyramid Brokerage Albany
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!