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    19 Aviation Rd Albany, NY 12205

    Sponsored
    For Sale
    $997,500

    1,430 SF Office, $997,500

    Property size:
    1,430 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 1,430 square foot Class B office building, located at 19 Aviation Road in Albany, NY 12205, presents a compelling investment opportunity. Situated on a ±0.99-acre lot, this single-story building boasts 95% occupancy across two suites, each approximately 680 and 750 square feet, available for lease. Built in 1972, the property features ample parking for approximately 54 vehicles and benefits from an inground sprinkler system. The building is conveniently located directly off the Wolf Road corridor in Colonie, within the Wolf Road Business District, a thriving commercial area with abundant shopping, hotels, conference centers, and restaurants. Multiple internet service providers are available. This property offers a great owner-user opportunity and is zoned COR. The asking price is $997,500, translating to $697.55 per square foot. Cross easements exist with neighboring properties at 14 Computer Drive East and 21 Aviation Road, presenting potential for acquisition as a package. The property is offered for sale as a stand-alone asset or as part of a larger portfolio. This is a multi-tenant gross lease property.

    Property Features for 19 Aviation Rd

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    1,430 SF
    Class
    B

    Building Details

    Buildings
    1
    Stories
    1
    Units
    2

    HighLights

    • 0.99‑acre site.
    • 1972 construction.
    • Approximately 54 parking spaces.
    • Cross easements available with adjacent properties at 14 Computer Drive East and 21 Aviation Road; potential for package purchase.
    • Inground sprinkler system.
    • Two suites available for lease: 680 SF and 750 SF.
    Property Profile Location Intelligence

    Current Use by Public Records

    Kari Cook - Aflac ... Insurance Broker Cdysl Charity Unlimited Care Inc Home Health Care Service Ayelet Tours Tourist Information Center New York State ... State Government Office

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.8047571
    Latitude
    42.7167351

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    FAQs

    What type of property is this?
    Office Property / Space - 1,430 SF Office, $997,500
    Where is this office property / space located?
    The property is located at 19 Aviation Rd Albany, NY.
    What is the asking price?
    The asking price for this property is $997,500.
    What are key features of this property?
    This property features: 0.99-acre site.; 1972 construction.; Approximately 54 parking spaces.
    (518) 452-2700
    Request Owner's contact information
    19 Aviation Rd Albany, NY 12205
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    Albany, NY 12205
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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
    19 Aviation Rd Albany, NY 12205
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