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5 Columbia Cir Albany, NY 12203

For Sale
$7,500,000

Prime Albany office, 49,000 SF, 100% occupied.

Property size:
49,000 SF

Description

Added:
Dec 11, 2024
Days on Market:
363
This exceptional investment opportunity presents a fully occupied, Class B office building totaling approximately 49,000 square feet situated on a 5-acre lot at 5 Columbia Circle in Albany, New York. The property boasts a desirable location within a vibrant office park, conveniently located off Washington Avenue Extension with easy access to public transportation via a nearby CDTA bus stop. The building features three long-term, creditworthy tenants with staggered lease terms, providing a stable income stream and potential for future upside. The building is currently 100% occupied, offering immediate cash flow. An additional approximately 8,035 square feet of basement storage space, served by an elevator and sprinkler system, is available for lease, presenting an opportunity to increase revenue. The building itself benefits from quality construction and a history of ongoing capital improvements, including a new roof installed in 2017. The property is zoned MU-CI and features a single building on a sizable 5-acre parcel. The asking price is $7,500,000, translating to a price per square foot of $153.06. This presents a compelling investment opportunity in a thriving Albany County market known for its strong residential, commercial, and recreational appeal. The existing tenants are committed to long-term leases, and one suite is available for sublease or direct lease, allowing a buyer to further optimize the property's income potential. Annual rent escalations are in place, ensuring consistent growth in rental income.

Property Features for 5 Columbia Cir

General Information

Property type
Office Properties & Spaces
Square Feet
49,000 SF
Class
B
Lot Size
217,800 SF

Building Details

Buildings
1

Property Profile Insight Report Location Intelligence

Current Use by Public Records

Reinke Wayne F Attorney Heslin Rothenberg Farley ... Attorney Solomon Valerie N Attorney Hutton Brett Attorney Boger John W Attorney

Suggested Use

Realty agency Restaurant Law Firm 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
-73.8646026
Latitude
42.7050772

FAQs

What type of property is this?
Office Property / Space - Prime Albany office, 49,000 SF, 100% occupied.
Where is this office property / space located?
The property is located at 5 Columbia Cir Albany, NY.
What is the asking price?
The asking price for this property is $7,500,000.
More about this property
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