Retail Property with Monument
New
For Sale
$750,000
561 New Scotland Ave, Albany, NY 12208
Municipal water and sewer serve this mixed-use neighborhood center property.
Property Size3,050 SF
Lot Size0.35 Acres
Price / SF$245.90
Days on Market2
Property Features for 561 New Scotland Ave
General Information
Standard status
Active
Size
3,050 SF
Lot size
0.35 Acres
Property subtype
Retail
Zoning
RMU-NC
Additional Details
Utilities to Site
Yes
Listing Agency:
Atlantic Retail | Albany
Listed By:
Alison Burnside
(518) 785-8200
Source:
Atlanticretail
Added: Sep 30
Last Checked: Sep 30 at 4:08PM
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 Atlantic Retail | Albany
Investment Insights
Based on property information with market context.
This retail property contains 3,050 square feet on a 0.35-acre parcel. A new monument sign is in place, with facade and directional signage available. The site is served by municipal water and sewer.
Zoning is RMU-NC (Mixed-Use Neighborhood Center) with a CS-O (Combined Sewer) overlay.
Zoning is RMU-NC (Mixed-Use Neighborhood Center) with a CS-O (Combined Sewer) overlay.
Key Highlights
- 3,050 SF on 0.35 acres
- New monument sign installed
- Facade and directional signage available
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
$36,852
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
4.91%
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%
$737,040
$737.0K
Cap Rate 7%
$526,457
$526.5K
Cap Rate 9%
$409,467
$409.5K
Market Conditions
NOI Build-Up for 3,050 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
$56.7K $18.60/SF
− Vacancy
−$4.1K −$1.34/SF
EGI
$52.6K $17.26/SF
− OpEx
−$15.8K −$5.18/SF
NOI
$36.9K $12.08/SF
Area
Albany, NY
Vacancy
7.20%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
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%
$737,040
Cap Rate 7%
$526,457
Cap Rate 9%
$409,467
Alternative Uses
Best Use
Retail
$526.5K
$460.7K – $614.2K
NOI $36,852 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$804.7K
$704.1K – $938.8K
NOI $56,327 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,036
Businesses Nearby
18k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 76%
Shops & Services 24%
Dunkin' Donuts
Dining
5,954 visits/mo
0.1 miles
KeyBank
Shops & Services
4,333 visits/mo
0.0 miles
SUBWAY
Dining
4,180 visits/mo
0.1 miles
Papa John's Pizza
Dining
3,391 visits/mo
0.1 miles
Demographics for 12208, NY
22,118
Population
11,522
Households
1.9
Avg Household Size
34
Median Age
56%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
5,027
Density / Sq Mi
$69,505
Median Household Income
$39,268
Median Earnings
$1,291
Median Rent
$255,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Albany, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Municipal water and sewer serve this mixed-use neighborhood center property.
Where is this retail space located?
The property is located at 561 New Scotland Ave Albany, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 3,050 SF on 0.35 acres; New monument sign installed; Facade and directional signage available
