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    Property profile & analytics

    637 Columbia Street Ext Cohoes, NY 12047

    • Retail properties
    • 30,000 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 637 Columbia Street Ext

    Year built
    1955
    Property size
    30,000 SF
    Property type
    Retail properties
    Property subtype
    Automotive properties

    Description

    This exceptional commercial property, located at 637 Columbia Street Ext in Cohoes, NY, presents a unique investment opportunity. The property consists of three buildings totaling 30,000 square feet situated on a generous 3.1-acre lot. Currently configured as a car dealership, this versatile space is zoned COR and offers significant potential for a variety of automotive-related businesses or other retail uses. The ample 250-space parking lot ensures convenient access for customers and employees. Built in 1955, the property benefits from its high-visibility location on Route 9R, providing excellent exposure to a substantial volume of traffic. The entire 30,000 square feet is currently vacant, offering a blank canvas for a new tenant or owner-occupier. The existing lease expires on April 1, 2023, providing immediate occupancy. This property is ideally suited for businesses seeking a prominent location with significant space and ample parking in a thriving Albany County market. The property's size and zoning offer considerable flexibility for adaptive reuse, making it an attractive proposition for a wide range of commercial ventures. Don't miss this chance to acquire a substantial retail property in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cohoes
    County
    Albany
    State
    New York
    Longitude
    -73.736
    Latitude
    42.7852

    Comparable in this City

    • Value Estimation
      $1,640,000
      36,840 SF

      1 Williams St

      VEHICLE SALES, RENTALS • 36,840 SF
      1 Williams St, Cohoes, NY 12047-1752
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    • Value Estimation by Request
      3,100 SF

      231 Saratoga St

      VEHICLE SALES, RENTALS • 3,100 SF
      231 Saratoga St, Cohoes, NY 12047-3133
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    • Value Estimation by Request
      3,540 SF

      361 Saratoga St

      VEHICLE SALES, RENTALS • 3,540 SF
      361 Saratoga St, Cohoes, NY 12047
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    • Value Estimation
      $1,820,000
      18,098 SF

      999 New Loudon Rd

      VEHICLE SALES, RENTALS • 18,098 SF
      999 New Loudon Rd, Cohoes, NY 12047-5001
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    • Value Estimation by Request
      576 SF

      370 Saratoga St

      VEHICLE SALES, RENTALS • 576 SF
      370 Saratoga St, Cohoes, NY 12047-3123
      View Details
    • Value Estimation by Request
      2,500 SF

      109 Ontario St

      VEHICLE SALES, RENTALS • 2,500 SF
      109 Ontario St, Cohoes, NY 12047-3417
      View Details

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    • New
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      Cohoes Commercial Property For Sale

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      0.25 Acres

      Cohoes, NY Commercial Lot

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    Similar Nearby for Lease

    • Contact for pricing
      30,000 SF

      Cohoes Retail Space - Route 9R

      Prime 30,000 SF Retail Space, Albany County
      637 Columbia Street Ext, Cohoes, NY 12047
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    • $1,100 /Mo
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      Mixed-Use Building with Retail Spaces

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      Retail Space with Drive-Thru

      New construction retail space with drive-thru in highly populated area.
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      Cohoes Office and Retail Space

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      Cohoes Commercial Space For Rent

      Commercial space available on highly traveled Columbia Street in Cohoes.
      148 Columbia Street Ext, Cohoes, NY 12047
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    • $995 /Mo

      Corner Commercial Space For Rent

      First-floor corner commercial space suitable for a tea or coffee shop.
      12 White St, Cohoes, NY 12047
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    637 Columbia Street Ext
    Cohoes, NY 12047
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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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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