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    1501 State St Schenectady, NY 12304

    Sponsored
    For Sale
    $2,400,000

    High-traffic corner lot, excellent rental history.

    Property size:
    15,296 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional commercial property, located at 1501 State Street in Schenectady, New York, presents a unique investment opportunity. The property encompasses a substantial 15,296 square feet of retail space situated on a generous 43,560 square foot lot. Its prime corner location ensures high visibility and accessibility, contributing to a consistent history of strong rental performance. The existing building offers ample space for a variety of retail uses, and the property further benefits from approved plans for expansion. These plans allow for the addition of two new buildings, one approximately 2,500 square feet and another approximately 3,000 square feet, significantly increasing the potential rental income and overall value of the property. The property is zoned for commercial use and is conveniently located in Schenectady, NY, zip code 12304, offering easy access to major transportation routes and a thriving local market. The asking price for this exceptional commercial property is $2,400,000. This represents a compelling investment opportunity for those seeking a high-return property with significant growth potential in a desirable location. The property's size, location, and expansion possibilities make it an ideal choice for savvy investors looking to capitalize on the robust Schenectady commercial real estate market.

    Property Features for 1501 State St

    General Information

    Property type
    Land
    Square Feet
    15,296 SF

    HighLights

    • 15,296 SF retail space on a 43,560 SF lot in Schenectady, NY.
    • Prime corner location with high visibility and strong rental history.
    • Approved plans for two building additions (2,500 SF & 3,000 SF).
    • Zoned commercial, excellent access to transportation.
    • Asking price: $2,400,000.
    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
    Schenectady
    County
    Schenectady
    State
    New York
    Longitude
    -73.9161885
    Latitude
    42.7918647

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    FAQs

    What type of property is this?
    Land - High-traffic corner lot, excellent rental history.
    Where is this land located?
    The property is located at 1501 State St Schenectady, NY.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: 15,296 SF retail space on a 43,560 SF lot in Schenectady, NY.; Prime corner location with high visibility and strong rental history.; Approved plans for two building additions (2,500 SF & 3,000 SF).
    Request Owner's contact information
    1501 State St Schenectady, NY 12304
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    Schenectady, NY 12304
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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
    1501 State St Schenectady, NY 12304
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