145 Central AveAlbany, NY 12206

Property Details for 145 Central Ave

Year built

1950

Lot size

0.39 AC

Property size (Sq ft)

33,920 SF

Zone code

C3

Property type

Office properties

Property subtype

Office buildings

APN

010100 65.63-5-46

APU

101006563546

Description

This exceptional two-story, 34,132-square-foot office building at 145 Central Avenue in Albany, New York, presents a unique owner-user opportunity. The property boasts approximately 18,000 square feet of improved first-floor office space, complemented by roughly 16,000 square feet of lower-level storage. A significant advantage is the inclusion of a private, gated parking lot accommodating approximately 50 vehicles, located at 106 Central Avenue. The building features a freight elevator and 6-inch raised flooring throughout the main level. Its prime location along Central Avenue (Route 5), a major commercial artery, ensures high visibility and accessibility. The property benefits from proximity to key amenities, including a CDTA bus stop (routes 1, 803, and 807) approximately 354 feet away, Albany Medical Center (1.1 miles), and the Empire State Plaza (1.1 miles). Furthermore, it enjoys convenient access to I-90 (Exit 6, 1.3 miles away), and benefits from a high average annual daily traffic count of 15,986 vehicles. The property is zoned for mixed-use development under a form-based zoning code. Offered at $1,685,000 ($49.37/sq ft).

• CAP approach

  CAP return

  Valuation

  6%

  $8,426,254

  6.5%

  $7,778,080

  7%

  $7,222,503

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,461,778

  Geo Method

  $4,431,987

• Alternative Use

  Use

  Valuation

  Residential

  $9,644,820

  Hospitality

  $8,834,603

  Educational

  $7,350,286

  Medical

  $7,603,074

  Retail

  $11,433,778

Location Insight

City

Albany

County

Albany

State

New York

Latitude

42.661

Longitude

-73.7676

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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