1500 Central AveAlbany, NY 12205

Property Details for 1500 Central Ave

Year built

1966

Lot size

0.37 AC

Property size (Sq ft)

11,700 SF

Zone code

45

Property type

Office properties

Property subtype

Office buildings

APN

012601 41.12-6-4

APU

12601411264

Description

This exceptional 11,700 square foot special purpose property, located at 1500 Central Avenue in Albany County, presents a unique investment opportunity. The single-tenant building sits on a sizable 16,117 square foot lot and boasts a highly desirable location offering excellent visibility for any business. The property features several retail spaces at the front, ideal for customer interaction and showcasing products or services. Behind the retail area, ample office space provides a functional and private work environment. A significant advantage is the availability of over 75 parking spaces, ensuring convenient access for employees and customers alike. The property is offered with a Modified Gross Lease, and pricing varies depending on the specific needs of the tenant. This prime location in the South Colonie area offers exceptional potential for a variety of businesses seeking a prominent and well-equipped space. The substantial lot size also allows for potential future expansion or development. This is a rare opportunity to secure a well-established commercial property in a high-traffic area. Contact us today to learn more about this exceptional offering and discuss lease terms.

• CAP approach

  CAP return

  Valuation

  6%

  $2,906,461

  6.5%

  $2,682,888

  7%

  $2,491,252

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,538,998

  Geo Method

  $1,528,722

• Alternative Use

  Use

  Valuation

  Residential

  $3,326,780

  Hospitality

  $3,047,313

  Educational

  $2,535,328

  Medical

  $2,622,522

  Retail

  $3,943,844

Location Insight

City

Colonie

County

Albany

State

New York

Latitude

42.7125

Longitude

-73.8278

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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