150 New Scotland AveAlbany, NY 12208

Property Details for 150 New Scotland Ave

Year built

2007

Lot size

5.35 AC

Property size (Sq ft)

198,884 SF

Zone code

CO

Property type

Office properties

Property subtype

Office buildings

APN

010100 76.05-1-8.2

APU

101007605182

Description

This exceptional 143,000-square-foot Class A medical office building, located at 150 New Scotland Avenue in Albany, NY, 12208, presents a unique investment opportunity. The property features a state-of-the-art laboratory facility with BSL-2 and BSL-3 lab space, along with a vivarium, making it ideal for pharmaceutical, healthcare, and life science technology companies. The building offers multiple tenancy options with a minimum divisible space of 800 square feet and currently has 46,700 square feet of vacant space. Ample parking is provided with 300 spaces, including an adjacent parking garage. The building boasts advanced HVAC systems, including two rooftop plants with 95,000 cubic feet of air cooling, eight compressors with 100 tons of cooling/compression capacity, and two 7,500 MBH and two 5,500 MBH boilers for preheat and reheat. Lab air changes are capable of 4-12 per hour, with three strobic exhaust fans. Safety and security are paramount, with a sprinkler system, 100% wet duplex booster pumps, a 24-hour security access system, and an on-duty security guard. A pH neutralization system handles all lab waste, and an 800 kW emergency generator ensures uninterrupted operations. The property's prime location offers close proximity to the Albany Medical Cluster, including Albany Medical Center, St. Peter's Hospital, Albany College of Pharmacy & Health Sciences, Sage Colleges, and SUNY Albany.

• CAP approach

  CAP return

  Valuation

  6%

  $49,405,868

  6.5%

  $45,605,416

  7%

  $42,347,888

• Comparable approach

  Method

  Valuation

  Relative Method

  $26,160,854

  Geo Method

  $25,986,184

• Alternative Use

  Use

  Valuation

  Residential

  $56,550,716

  Hospitality

  $51,800,152

  Educational

  $43,097,120

  Medical

  $44,579,296

  Retail

  $67,039,964

Location Insight

City

Albany

County

Albany

State

New York

Latitude

42.6509

Longitude

-73.7813

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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