8 Nolan RdAlbany, NY 12205

Property Details for 8 Nolan Rd

Year built

1958

Lot size

0.50 AC

Property size (Sq ft)

8,590 SF

Zone code

12

Property type

Office properties

Property subtype

Office buildings

APN

012689 42.17-6-2

APU

12689421762

Description

This exceptional 2,600-square-foot warehouse, located at 8 Nolan Road in Albany, NY, presents a unique opportunity for a variety of commercial ventures. Situated on a half-acre lot (0.5 acres), this single-tenant property boasts a prime location across from Colonie Center Mall, offering easy access to the Northway. Built in 1958, the building has recently undergone extensive renovations, including a complete interior and exterior paint job, updated bathrooms, HVAC system improvements, and a newly paved asphalt parking lot providing 19 parking spaces. The property features high ceilings and two dedicated bathrooms, each equipped with showers. Separate, energy-efficient utilities are a significant advantage. The flexible space is ideal for a range of uses, including office, retail, fitness center, manufacturing, or mixed-use operations. The property's APN is 012689 42.17-6-2, and it's located in Albany County, NY, zip code 12205. This is a rare opportunity to secure a well-maintained, versatile commercial space in a highly desirable location. The entire 2,600 square feet is currently vacant and ready for immediate occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $2,133,889

  6.5%

  $1,969,744

  7%

  $1,829,048

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,129,914

  Geo Method

  $1,122,369

• Alternative Use

  Use

  Valuation

  Residential

  $2,442,482

  Hospitality

  $2,237,301

  Educational

  $1,861,408

  Medical

  $1,925,425

  Retail

  $2,895,524

Location Insight

City

Albany

County

Albany

State

New York

Latitude

42.7047

Longitude

-73.8196

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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