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    41 State St Albany, NY 12207

    For Lease
    $12 SF/Yr

    12-Story Office Building, 300-30,000 SF

    Lot size:
    198,145 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    41 State Street offers a prime opportunity for businesses seeking office space in the Central Business District. This twelve-story, Class B building boasts 198,145 square feet of total space, with 39,291 square feet currently vacant and divisible into units as small as 300 square feet, or up to a contiguous 30,000 square feet. Built in 1972 and situated on a 4.3-acre lot, the property features four freight and passenger elevators, ensuring efficient movement throughout the building. The building has undergone recent significant improvements, including modernized elevators, a new roofing system, and enhanced UV air purification for a healthier work environment. Enjoy abundant natural light and stunning Hudson Valley and city views from floor-to-ceiling windows in all suites. Conveniently located just two blocks from I-787 and five minutes from I-90 and I-87, this location offers unparalleled accessibility. On-site amenities include a parking garage with 90 spaces, a retail bank, a restaurant, and a full-service salon, providing tenants with a comprehensive and convenient work experience. The building is zoned for commercial use and benefits from a dedicated on-site management team. This is an exceptional opportunity to secure high-quality office space in a vibrant and well-connected location.

    Property Features for 41 State St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    198,145 SF
    Class
    B
    Total Rate
    213831.48

    Building Details

    Year Built
    1972
    Buildings
    1
    Stories
    12

    Unit(s) available at that property

    Space
    Suite 604-23
    Size
    438 SF
    Rate per SF
    $282
    Space
    Suite 705
    Size
    5,733 SF
    Rate per SF
    $12
    Space
    Suite 1100
    Size
    15,506 SF
    Rate per SF
    $13
    Space
    Suites 1100 & 1200
    Size
    15,268 SF
    Rate per SF
    $13
    Space
    Suite 1200
    Size
    15,268 SF
    Rate per SF
    $13
    Space
    Suite 704
    Size
    2,346 SF
    Rate per SF
    $12

    HighLights

    • 198,145 SF Class B office building with retail space in the Central Business District.
    • Multiple tenancies available, ranging from 300 SF to 30,000 SF contiguous.
    • 39,291 SF currently vacant.
    • 12‑story building on a 4.3‑acre lot, built in 1972.
    • Features 4 freight and passenger elevators, 90 parking spaces, and recently modernized systems including a new roof and enhanced HVAC.
    • Amenities include on‑site parking, retail, restaurant, and salon.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    DeGraff, Foy & Kunz, ... Personal Injury Attorney Lee Palmateer Law ... Law Firm Weinberg Gerald Attorney George J. Szary Attorney Shruthisoft LLC Software Company

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.7511873
    Latitude
    42.6494817

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    FAQs

    What type of property is this?
    Retail property - 12-Story Office Building, 300-30,000 SF
    Where is this retail property located?
    The property is located at 41 State St Albany, NY.
    What is the lease rate?
    The lease rate is $12-$282 SF/Yr.
    What are key features of this property?
    This property features: 198,145 SF Class B office building with retail space in the Central Business District.; Multiple tenancies available, ranging from 300 SF to 30,000 SF contiguous.; 39,291 SF currently vacant.
    Request Owner's contact information
    41 State St Albany, NY 12207
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    Albany, NY 12207
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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
    41 State St Albany, NY 12207
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