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

    1344 Gerling St Schenectady, NY 12308

    • Strip malls
    • 50,133 SF
    • 5.00 lot acres
    For Lease
    View listing
    Last Sale
    Jan 12, 2022
    $1,000,000
    Value Estimations
    $930,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2485478
    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

    • Walgreens Pharmacy / Pharmacy
    • FedEx OnSite / Postal Service / Courier Service
    • COVID-19 Drive-Thru Testing at Walgreens / Pharmacy
    • Walgreens / Pharmacy
    • Grapevine Wine & Liquor / (Bike/Boat/Book/etc) Store / Wine and Liquor Store

    Property Details for 1344 Gerling St

    Year built
    1954
    Lot size
    5.00 lot acres
    Property size
    50,133 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    421500 40.37-4-6
    APU
    421500403746

    Description

    Sheridan Plaza offers 42,397 square feet of prime retail space in Schenectady County, ideally situated for businesses seeking high visibility and convenient access. This multi-tenant property boasts a prominent location with pylon signage and excellent drive-thru capabilities, enhanced by five full-access curb cuts. The center comprises six suites, ranging from a minimum of 833 square feet to a maximum contiguous space of 10,270 square feet, providing flexibility for various business needs. Seven spaces are currently available. Ample parking is provided with 187 spaces available for customers and employees. The 5.14-acre site benefits from its proximity to local high schools, an art school, and Union College, ensuring a consistent flow of potential customers from a diverse and active community of approximately 2,096 students. This strategic location offers exceptional visibility and accessibility, making Sheridan Plaza an attractive investment opportunity for businesses seeking a thriving retail environment. The property's features make it an ideal location for a variety of retail uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $815,000
      ML approach
      $900,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $810,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Schenectady
    County
    Schenectady
    State
    New York
    Longitude
    -73.9111
    Latitude
    42.8233
    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
    $392,900
    $427,100
    $820,000
    -
    $497,342
    $540,633
    $1,037,975

    Comparable in this City

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      View Details
    • Value Estimation
      $4,180,000
      10,200 SF

      1204 Eastern Ave

      MINI-MALL • 10,200 SF
      1204 Eastern Ave, Schenectady, NY 12308-3502
      View Details
    • Value Estimation by Request
      2,612 SF

      1907 Van Vranken Ave

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      1907 Van Vranken Ave, Schenectady, NY 12308-1628
      View Details
    • Value Estimation
      $585,000
      12,236 SF

      1650 Erie Blvd

      VEHICLE SALES, RENTALS • 12,236 SF
      1650 Erie Blvd, Schenectady, NY 12308-1825
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    • Value Estimation by Request
      2,443 SF

      2401 Van Vranken Ave

      AUTO REPAIR, GARAGE • 2,443 SF
      2401 Van Vranken Ave, Schenectady, NY 12308-1026
      View Details
    • Value Estimation by Request
      5,587 SF

      111 Nott Ter

      AUTO REPAIR, GARAGE • 5,587 SF
      111 Nott Ter, Schenectady, NY 12308-3111
      View Details

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    Similar Nearby for Lease

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      Retail Spaces Available For Rent

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      Renaissance Square Retail/Office Space

      900 SF retail or office space in developing corridor.
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    • Contact for pricing
      3,737 SF

      Retail Property with Drive-Thru

      Retail property featuring drive-thru, high visibility, and multiple access points.
      1344 Gerling St, Schenectady, NY 12308
      View Details
    • $15 SF/Yr
      10,700 SF

      Schenectady Office/Medical Space Available

      5,350 sq. ft. office or medical space for rent.
      1401 Union St, Schenectady, NY 12308
      View Details
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    Schenectady, NY 12308
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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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