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Property profile & analytics
FOR LEASE
Office buildings
1401 Union St Schenectady, NY 12308
Entity Owned
2-yr Hold
Free & Clear
Property ID
US63-2103419
For Lease
$15 SF/Yr
1401 Union St, Schenectady, NY 12308
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Total area
5,400 SF
Lot
0.4 ac (17,500 SF)
Zoning code
03 - MULTI-FAMILY
APN
421500 50.21-1-24
UPID
US63-2103419
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Hicks Steven D MD Physician Medical Clinic
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Dr. Philip J. Marra, MD Physician
-
Gia M. LaRuffa, PhD Medical Clinic
-
Center For Sight Physician
-
Dr. Eloise Potenza Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
1401 Union LLC · 2 yrs held
1401 Union LLC
since 2023
Last sale
$505,000
2 recorded transactions
Zoning & alternative use
03 - MULTI-FAMILY · Schenectady, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Schenectady submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Schenectady submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$438,700
Assessed 2023
Previous assessed
$438,700
+0.0% YoY
Assessed land
$34,800
Assessed improvement
$403,900
Land market value
$44,051
Improvement market value
$511,265
Total market value
$555,316
Applied tax rate
421,500.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1985
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
5,400 SF
Lot
0.4 ac (17,500 SF)
Zoning code
03 - MULTI-FAMILY
APN
421500 50.21-1-24
UPID
US63-2103419
Jurisdiction
SCHENECTADY
Zoning & alternative use
03 - MULTI-FAMILY · Schenectady, NY
Zoning 03 - MULTI-FAMILY · permitted uses
03 - MULTI-FAMILY · Schenectady, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Schenectady. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1985
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
1401 Union LLC
Entity
Free & Clear · 2 yrs held
Mailing address
850 RIV ST, TROY, NY 12180-1239
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 12, 2023
$505,000
1401 Union LLC
Mian Associates LLC
Warranty Deed
—
Apr 29, 2011
$370,000
Mian Associates LLC
Referee Of Schenectady County
Trustees Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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