Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    581 Central Ave Albany, NY 12206

    For Sale
    Contact for pricing

    High-traffic, NNN lease, multi-tenant.

    Property size:
    4,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional retail opportunity is located at 581 Central Ave in the heart of downtown Albany, NY, zip code 12206. The property boasts a prime location at a traffic signal, ensuring high visibility and accessibility for potential customers. The space is categorized as a multi-tenant property, offering flexibility for various retail uses, including grocery stores, storefronts, and shopping center components. The total square footage is adaptable, ranging from 4,000 to 8,000 square feet, providing options for businesses of different sizes. Currently, the occupancy rate stands at 50%, presenting a chance to acquire a partially occupied property with immediate income potential and the opportunity to lease the remaining space. The lease structure is a triple net (NNN) lease, meaning the tenant is responsible for property taxes, insurance, and maintenance, minimizing the landlord's operational expenses. This property is ideal for investors seeking a strong return on investment in a vibrant downtown location with high foot traffic and excellent visibility. The property's address is easily accessible and benefits from its strategic placement at a traffic signal. This presents a unique opportunity to establish or expand a retail business in a thriving urban environment.

    Property Features for 581 Central Ave

    General Information

    Property type
    Lifestyle centers
    Square Feet
    4,000 SF

    HighLights

    • Prime downtown Albany, NY retail space at 581 Central Ave (zip code 12206).
    • High‑visibility location at a traffic signal, ensuring excellent accessibility.
    • Multi‑tenant property (4,000‑8,000 SF) suitable for various retail uses.
    • Currently 50% occupied, offering immediate income and leasing potential.
    • Triple Net (NNN) lease minimizes landlord expenses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    higi Health Consultant Michael Mcginn Pharmacy Patrick Ward Pharmacy Affordable Dental Implants ... Dental Implants Periodontist

    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
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.7799003
    Latitude
    42.6721743

    Nearby Similar for Sale

    • $290,000
      Pending

      Remodeled Two-Family Home, Albany

      Remodeled two-family home in Colonie location with modern amenities.
      14 Orford St, Albany, NY 12205
      View Details
    • $2,800,000
      10,000 SF

      Albany Mixed-Use Investment Opportunity

      Four buildings with a bar, apartments, and commercial space.
      162-168 Jeffferson St, Albany, NY 12210
      View Details
    • $324,900
      Pending

      Albany Two-Family Home with Parking

      Well-maintained two-family home near Albany Medical Center with parking.
      685 Myrtle Ave, Albany, NY 12208
      View Details
    • $1,300,000
      0.51 Acres

      Versatile Commercial Property on Central Avenue

      43,520 sq ft commercial property with diverse spaces and parking.
      233 Central Ave, Albany, NY 12206
      View Details
    • New
      $830,000
      3,438 SF

      Corner Multifamily Property Overlooking Park

      Six units across three buildings near downtown Albany.
      70 Willett St, Albany, NY 12210
      View Details
    • $369,000
      1,312 SF

      Mixed-Use Property in Colonie, NY

      Versatile mixed-use property with new roof and convenient location.
      34 Russell Rd, Colonie, NY 12205
      View Details

    FAQs

    What type of property is this?
    Lifestyle center - High-traffic, NNN lease, multi-tenant.
    Where is this lifestyle center located?
    The property is located at 581 Central Ave Albany, NY.
    What are key features of this property?
    This property features: Prime downtown Albany, NY retail space at 581 Central Ave (zip code 12206).; High-visibility location at a traffic signal, ensuring excellent accessibility.; Multi-tenant property (4,000-8,000 SF) suitable for various retail uses.
    Request Owner's contact information
    581 Central Ave Albany, NY 12206
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    581 Central Ave
    Albany, NY 12206
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    581 Central Ave Albany, NY 12206
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.