Property profile

145 Central Ave Albany, NY 12206

FOR LEASE
Office buildings
Property ID
US63-6104733
33,920 SF 0.39 ac lot Built 1950
Entity Owned 12-yr Hold ~ Est. High Equity
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145 Central Ave, Albany, NY 12206 For Lease
$615,000 34,132 SF available
145 Central Ave, Albany, NY 12206
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Property summary

AI-generated overview

This exceptional two-story, 34,132-square-foot office building at 145 Central Avenue in Albany, New York, presents a unique owner-user opportunity. The property boasts approximately 18,000 square feet of improved first-floor office space, complemented by roughly 16,000 square feet of lower-level storage. A significant advantage is the inclusion of a private, gated parking lot accommodating approximately 50 vehicles, located at 106 Central Avenue. The building features a freight elevator and 6-inch raised flooring throughout the main level. Its prime location along Central Avenue (Route 5), a major commercial artery, ensures high visibility and accessibility. The property benefits from proximity to key amenities, including a CDTA bus stop (routes 1, 803, and 807) approximately 354 feet away, Albany Medical Center (1.1 miles), and the Empire State Plaza (1.1 miles). Furthermore, it enjoys convenient access to I-90 (Exit 6, 1.3 miles away), and benefits from a high average annual daily traffic count of 15,986 vehicles. The property is zoned for mixed-use development under a form-based zoning code. Offered at $1,685,000 ($49.37/sq ft).

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1950
Total area 33,920 SF
Lot 0.39 ac (16,960 SF)
Zoning code C3
APN 010100 65.63-5-46
UPID US63-6104733

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
  • Government Office
  • General Contractor Construction Company

Location

145 Central Ave Albany, NY 12206
Albany metro Census 800 ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$615k

Owner & transaction history

since 2014
3 recorded transactions
2014
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

C3 · Albany, NY

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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More about this property
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