Technical
Financial
Distress signals
Property profile

1425 Central Ave Albany, NY 12205

FOR LEASE
Super regional malls
Property ID
US63-2400094
269,366 SF 20.7 ac lot Built 1966
Entity Owned 2-yr Hold Free & Clear
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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

Current use

Occupant on record · Public records
  • Marketing & Advertising
  • (Bike/Boat/Book/etc) Store
  • (Bike/Boat/Book/etc) Store Corporate Office
  • Restaurant
  • (Bike/Boat/Book/etc) Store

Location

1425 Central Ave Albany, NY 12205
Albany metro Census 14001 ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA
Google Maps

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

since 2024
Last sale
$28.0M
3 recorded transactions
2024
$28.0M
2023
Price N/A
2015
Price N/A

Zoning & alternative use

16 · Albany, NY
Top alternative use upside
Restaurant $21.0M +435.5%
Commercial (general) $20.7M +427.3%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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