Medical Office
63 Shaker Road, Albany, NY 12204
For Sale
$480,000
Commercial Sale, Albany, NY
Property Size3,287 SF
Lot Size0.01 Acres
Price / SF$146.03
Days on Market49
Property Features for 63 Shaker Road
General Information
Property type
Property subtype
Zoning
Parking
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Building materials
Roof type
Listing Agency:
Berkshire Hathaway Home Services Blake · Berkshire Hathaway HomeServices
(518) 464-0870
Listed By:
Karen Zalewski-Wildzunas · License #10301219752
(518) 858-4719
Added: Sep 22
Changed: Oct 2
Last Checked: Nov 9 at 5:06AM
MLS# 202626619
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,287-square-foot medical office condominium provides a professional commercial setting for healthcare and other office-oriented practices. The property is suitable for uses including physician, dental, therapy, and related professional services. Block construction, a flat roof, central air, and natural gas heating support the building’s basic operating infrastructure.
The condominium is positioned just off I-787 and I-90, with Memorial Hospital directly nearby. Public water and public sewer serve the property, and the zoning is Commercial.
The condominium is positioned just off I-787 and I-90, with Memorial Hospital directly nearby. Public water and public sewer serve the property, and the zoning is Commercial.
Key Highlights
- 3,287‑square‑foot medical office condominium
- Commercial zoning supports medical and professional office use
- Located next to Memorial Hospital
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,273
Cap Rate
8.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$845,460
$845.5K
Cap Rate 7%
$603,900
$603.9K
Cap Rate 9%
$469,700
$469.7K
Market Conditions
NOI Build-Up for 3,287 SF
Gross rent
$76.9K $23.40/SF
− Vacancy
−$6.5K −$1.97/SF
EGI
$70.5K $21.43/SF
− OpEx
−$28.2K −$8.57/SF
NOI
$42.3K $12.86/SF
Area
Albany, NY
Vacancy
8.40%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$845,460
Cap Rate 7%
$603,900
Cap Rate 9%
$469,700
Alternative Uses
Best Use
Office B
$642.7K
$562.3K – $749.8K
NOI $44,987 @ 7.0% cap · market cap 9.37%
Second Best
Healthcare Medical
$603.9K
$528.4K – $704.6K
NOI $42,273 @ 7.0% cap · market cap 8.81%
Theoretical Best
Office A
$867.2K
$758.8K – $1.01M
NOI $60,704 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
583
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12204, NY
7,818
Population
4,290
Households
1.8
Avg Household Size
37
Median Age
39%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
1,907
Density / Sq Mi
$75,197
Median Household Income
$48,911
Median Earnings
$1,294
Median Rent
$226,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Commercially zoned condominium suited to medical and professional office use near major regional access.
Where is this medical office space located?
The property is located at 63 Shaker Road Albany, NY.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 3,287‑square‑foot medical office condominium; Commercial zoning supports medical and professional office use; Located next to Memorial Hospital
