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    1 Alice Ave Watervliet, NY 12189

    Sponsored
    For Sale
    $6,500,000

    Prime 36-acre site, 230-unit PDD approved.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 36.26-acre parcel in the Town of Colonie, New York, presents a unique opportunity for large-scale residential development. The property, located at 1 Alice Avenue, Watervliet, NY 12189 (42.738047, -73.717265), boasts a fully approved Planned Development District (PDD) for 230 residential units. Phase 1 encompasses 140 units of active adult multifamily housing, designed as a three-story building with convenient full walk-out ground floor access. Phase 2 has approval for 90 units of assisted living, offering flexibility for conversion to additional active adult multifamily units if desired. The active adult living concept caters to the 55+ demographic seeking independent living with access to resort-style amenities, community programs, and convenient services. This prime location offers beautiful views of Rensselaer County and is conveniently situated near various amenities, adjacent to both single-family homes and existing multifamily residential complexes. The asking price for this fully approved land is $6,500,000. This presents a compelling investment opportunity in a thriving area with strong demand for senior living options. The property's strategic location and comprehensive approvals significantly reduce development timelines and risks, making it an attractive proposition for experienced developers.

    Property Features for 1 Alice Ave

    General Information

    Property type
    Land

    HighLights

    • ±36.26‑acre site approved for active adult/assisted living development.
    • Colonie, NY location.
    • Excellent access to numerous amenities.
    • Offers scenic Rensselaer County views.
    • Situated near single‑family homes and multifamily communities.
    • Targeted towards the 55+ demographic seeking independent living with resort‑style amenities and supportive services.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Watervliet
    County
    Albany
    State
    New York
    Longitude
    -73.717265
    Latitude
    42.738047

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    FAQs

    What type of property is this?
    Land - Prime 36-acre site, 230-unit PDD approved.
    Where is this land located?
    The property is located at 1 Alice Ave Watervliet, NY.
    What is the asking price?
    The asking price for this property is $6,500,000.
    What are key features of this property?
    This property features: ±36.26-acre site approved for active adult/assisted living development.; Colonie, NY location.; Excellent access to numerous amenities.
    (518) 452-2700
    Request Owner's contact information
    1 Alice Ave Watervliet, NY 12189
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    Realmo Value Estimation

    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.

    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.

    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
    1 Alice Ave Watervliet, NY 12189
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