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    FOR LEASE
    Super regional malls

    1425 Central Ave, Albany, NY 12205

    269,366 SF 20.7 ac lot Built 1966
    Entity Owned 2-yr Hold Free & Clear
    Property ID
    US63-2400094
    Property summary
    AI-generated overview

    This exceptional retail opportunity is located within the bustling Colonie Center, a premier shopping destination in Albany County. The property boasts a total of 269,366 square feet across three stories, encompassing two available suites ranging from 2,113 to 41,500 square feet. A significant 100,000 square feet is currently vacant, presenting a unique chance for expansion or multi-tenant occupancy. Built in 1966 and renovated in 2000, the building offers a blend of established infrastructure and modern updates. The property sits on a substantial 20.7 acres (901,692 square feet) of land, providing ample space and visibility. With a total of 21,230 parking spaces, customer convenience is ensured. Elevators are available for easy access to all three floors. This high-profile location enjoys exceptional visibility and proximity to key retailers such as Fun City, Whole Foods Market, Sierra Trading Post, and Floor & Décor, guaranteeing high foot traffic and brand synergy. The multiple tenancy option allows for flexibility in lease terms and tenant mix, making this an ideal investment for both established businesses and emerging brands seeking a prime retail location. The property's size and location make it a truly exceptional opportunity within a thriving commercial center.

    Property profile
    Verified
    Property type Super regional malls
    Use group REGIONAL SHOPPING CENTER, MALL
    Year built 1966
    Total area 269,366 SF
    Lot 20.7 ac (901,692 SF)
    Zoning code 16
    APN 012689 42.3-1-1
    UPID US63-2400094
    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
    • Digifly Marketing Marketing & Advertising
    • Sports Zone (Bike/Boat/Book/etc) Store
    • Virtual Phantoms Inc (Bike/Boat/Book/etc) Store Corporate Office
    • Albany Pizza Restaurant
    • Gold Crown Hallmark (Bike/Boat/Book/etc) Store
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $28.00M
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $28.00M
    Owner & transaction history
    At Colonie Center 2024 LLC · 2 yrs held
    At Colonie Center 2024 LLC
    since 2024
    Last sale
    $28.0M
    3 recorded transactions
    2024
    $28.0M
    2023
    2015
    Zoning & alternative use
    16 · Albany, NY
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Restaurant $21.0M +435.5%
    Commercial (general) $20.7M +427.3%
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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