Building Details

Buildings 1

Listing Agency: Berkshire Hathaway Home Services Blake

Listed By: Karen Zalewski-Wildzunas · License #10401299136 Show Phone

Source: Capmarkrealty

Added: Mar 5 Changed: Oct 8 Last Checked: Oct 19 at 3:59AM

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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 Berkshire Hathaway Home Services Blake

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Investment Insights

Based on property information with market context.

This office and warehouse building is situated on a 3-acre site and features abundant parking. The property includes a mix of professional office space and warehouse/storage areas. The building features a shingle roof and masonry exterior, and includes a loading dock. The office area includes a conference room and kitchen. The rear of the building provides storage, workshop, and warehouse space. Existing office furnishings are included. The property is located minutes from exit 7 of I-87, alternate Rt. 7, and I-787 routes, providing convenient access to the Capital District and beyond. The building contains 3 half baths and has a total size of 7500 square feet. The property is suitable for a variety of business operations.

Key Highlights

• Excellent location with convenient access to I‑87, Rt. 7, and I‑787.
• Functional mix of professional office space and warehouse/storage areas.
• Abundant parking on a 3‑acre site.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$70,459

Cap Rate

7.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,409,180 $1.4M

Cap Rate 7%

$1,006,557 $1.0M

Cap Rate 9%

$782,878 $782.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,500 SF

Gross rent

$108.0K $14.40/SF

− Vacancy

−$7.3K −$0.98/SF

EGI

$100.7K $13.42/SF

− OpEx

−$30.2K −$4.03/SF

NOI

$70.5K $9.39/SF

Area

Albany County, NY

Vacancy

6.80%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,409,180

Cap Rate 7%

$1,006,557

Cap Rate 9%

$782,878

Alternative Uses

Best Use

Industrial

$1.01M

$880.7K – $1.17M (±1% cap)

NOI $70,459 @ 7.0% cap · market cap 7.92%

Second Best

Flex RnD

$992.4K

$868.4K – $1.16M (±1% cap)

NOI $69,469 @ 7.0% cap · market cap 7.81%

Theoretical Best

Office A

$2.34M

$2.05M – $2.73M (±1% cap)

NOI $163,823 @ 7.0% cap · market cap 18.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Law Firm Restaurant Dental Office Real Estate Agency Big Box & Wholesale Store Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

99

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 12047, NY

23,347

Population

10,963

Households

2.1

Avg Household Size

40

Median Age

33%

College-Educated

91%

High-School Grad

8.8 sq mi

ZIP Area

2,653

Density / Sq Mi

$66,970

Median Household Income

$46,476

Median Earnings

$1,213

Median Rent

$237,200

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Office and warehouse building with convenient access to major routes.

Where is this flex space located?

The property is located at 601 Columbia St Extension Cohoes, NY.

What is the asking price?

The asking price for this property is $890,000.

What are key features of this property?

This property features: Excellent location with convenient access to I‑87, Rt. 7, and I‑787.; Functional mix of professional office space and warehouse/storage areas.; Abundant parking on a 3‑acre site.