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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1 Metro Park Rd Albany, NY 12205-1101

    • Strip malls
    • 7,950 SF
    • 3.60 lot acres
    OFF-MARKET
    Value Estimations
    $215,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2046858
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Ruth's Chris Steak House / American Restaurant / Fine Dining Restaurant

    Property Details for 1 Metro Park Rd

    Year built
    1983
    Lot size
    3.60 lot acres
    Property size
    7,950 SF
    Zone code
    12
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    012689 42.2-1-13
    APU
    12689422113

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $172,000
      Market price range: $58.7k - $173k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $375,000
      RETAIL STORES
      $280,000
      OFFICE BUILDING
      $195,000
      MEDICAL BUILDING
      $190,000
      INDUSTRIAL (GENERAL)
      $170,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.8024
    Latitude
    42.7199
    CBSA code
    10580
    CBSA name
    ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $1,260,000
    $1,140,000
    $2,400,000
    -
    $2,470,597
    $2,235,303
    $4,705,900

    Comparable in this City

    • Value Estimation
      $365,000
      20,184 SF

      98 Wolf Rd

      SHOPPING CENTER, STRIP CENTER • 20,184 SF
      98 Wolf Rd, Albany, NY 12205-1291
      View Details
    • Value Estimation
      $315,000
      17,376 SF

      155 Wolf Rd

      SHOPPING CENTER, STRIP CENTER • 17,376 SF
      155 Wolf Rd, Albany, NY 12205-1159
      View Details
    • Value Estimation
      $195,000
      19,742 SF

      110 Wolf Rd

      SHOPPING CENTER, STRIP CENTER • 19,742 SF
      110 Wolf Rd, Albany, NY 12205-1244
      View Details
    • Value Estimation
      $4,200,000
      21,872 SF

      79 Wolf Rd

      SHOPPING CENTER, STRIP CENTER • 21,872 SF
      79 Wolf Rd, Albany, NY 12205-2613
      View Details
    • Value Estimation
      $125,000
      14,000 SF

      145 Wolf Rd

      SHOPPING CENTER, STRIP CENTER • 14,000 SF
      145 Wolf Rd, Albany, NY 12205-1125
      View Details
    • Value Estimation
      $245,000
      14,344 SF

      1839 Central Ave

      SHOPPING CENTER, STRIP CENTER • 14,344 SF
      1839 Central Ave, Albany, NY 12205-4780
      View Details

    Similar Nearby for Sale

    • $1,450,000
      12,000 SF

      Freestanding Building on Central Avenue

      12000 SF commercial building with high traffic and visibility.
      1735 Central Ave, Colonie, NY 12205
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    • $599,000
      3,800 SF

      Retail Property on One Acre

      Retail property on approximately one acre in busy corridor.
      36 Everett Rd, Albany, NY 12205
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    • $299,000

      Turnkey Pizzeria with Loyal Following

      Profitable pizzeria established for 15+ years in high-traffic location.
      391 Sand Creek Rd, Colonie, NY 12205
      View Details
    • New
      $659,900
      3,450 SF

      Mixed-Use Property with Income Potential

      High-visibility mixed-use property with immediate cash flow and value-add upside.
      1879 Central Ave, Albany, NY 12205
      View Details
    • $1,100,000
      1.53 Acres

      Commercial Property with Income Potential

      Four parcels with rentals and auto repair zoning in Colonie.
      2 Undine St, Colonie, NY 12205
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    • $559,899
      2,072 SF

      Renovated 1920s Brick Building

      Completely rebuilt interior, suitable for bar, restaurant, or retail.
      340 Hamilton St, Albany, NY 12205
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    Similar Nearby for Lease

    • $1,450 /Mo
      900 SF

      Retail Space Near Home Depot

      Retail space available near Home Depot with high traffic.
      979 Central Ave, Albany, NY 12205
      View Details
    • Contact for pricing
      1,228 SF

      Retail Space with Long-Term Tenants

      Retail property with high visibility and excellent condition for rent.
      1593 Central Ave, Albany, NY 12205
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Endcap retail space available with high traffic counts.
      1814 Central Ave, Albany, NY 12205
      View Details
    • Contact for pricing
      24,007 SF

      Central Ave Retail Center

      Colonie, NY Shopping Center Space Available
      1839 Central Ave, Colonie, NY 12205
      View Details
    • Contact for pricing
      2,113 SF

      Regional Shopping Center Retail Space

      Premier retail space in New York's Capital Region.
      3 Wolf Rd, Colonie, NY 12205
      View Details
    • Contact for pricing

      Community Retail Center For Lease

      Retail center with national and regional tenants in Albany, NY.
      29 Aviation Rd, Albany, NY 12205
      View Details
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    1 Metro Park Rd
    Albany, NY 12205-1101
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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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