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    4 Dana Ave Albany, NY 12208

    Sponsored
    For Sale
    $299,000

    Prime Albany location, three lots, high-growth area.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a rare chance to acquire three contiguous lots totaling 4 New Scotland Ave, and 103 Dana Ave in Albany, NY. The property includes a two-family apartment building, offering immediate income potential. Its strategic location on a busy Albany corridor places it adjacent to the billion-dollar Albany Medical Center expansion and Tri City's new 268 luxury apartments, as well as 30 new luxury apartments on Dana Avenue. The site benefits from exceptional visibility and proximity to a wealth of established businesses, including Chipotle, Panera Bread, Bank of America, Baldini's Restaurant, H&R Block, Stewarts, Starbucks, Walgreens, CVS, SEFCU Bank, Keybank, a Hilton Hotel, and the Recovery Room Restaurant. This presents a unique chance to develop a substantial retail and/or apartment complex, potentially wrapping the entire corner of New Scotland Ave and Dana Ave. The asking price is $299,000, and there's potential for acquiring additional adjoining properties. This could be the last available developable parcel in this high-demand area. The property's location within a rapidly growing neighborhood, coupled with its significant size and potential for expansion, makes it an exceptional investment opportunity with significant long-term growth prospects.

    Property Features for 4 Dana Ave

    General Information

    Property type
    Multifamily properties

    HighLights

    • Three contiguous lots available for purchase, representing the last developable block on New Scotland Ave near Albany Medical Center, ideal for retail and multifamily development.
    • Significant new multifamily development nearby, including 265 units across the street and additional projects totaling 90 units on Dana and Morris Avenues.
    • Strong existing retail presence anchored by national and regional brands including Chipotle, Panera Bread, Bank of America, and others.
    • Adjacent properties are owner‑occupied and potentially available for acquisition.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.7723427
    Latitude
    42.6544616

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    FAQs

    What type of property is this?
    Multifamily property - Prime Albany location, three lots, high-growth area.
    Where is this multifamily property located?
    The property is located at 4 Dana Ave Albany, NY.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: Three contiguous lots available for purchase, representing the last developable block on New Scotland Ave near Albany Medical Center, ideal for retail and multifamily development.; Significant new multifamily development nearby, including 265 units across the street and additional projects totaling 90 units on Dana and Morris Avenues.; Strong existing retail presence anchored by national and regional brands including Chipotle, Panera Bread, Bank of America, and others.
    Request Owner's contact information
    4 Dana Ave Albany, NY 12208
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    Albany, NY 12208
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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
    4 Dana Ave Albany, NY 12208
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