Property profile

150 New Scotland Ave Albany, NY 12208

FOR LEASE
Office buildings
Property ID
US63-0952067
198,884 SF 5.35 ac lot Built 2007
Entity Owned ~ Est. High Equity
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150 New Scotland Ave, Albany, NY 12208 For Lease
$19,110,000 143,413 SF available
150 New Scotland Ave, Albany, NY 12208
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Property summary

AI-generated overview

This exceptional 143,000-square-foot Class A medical office building, located at 150 New Scotland Avenue in Albany, NY, 12208, presents a unique investment opportunity. The property features a state-of-the-art laboratory facility with BSL-2 and BSL-3 lab space, along with a vivarium, making it ideal for pharmaceutical, healthcare, and life science technology companies. The building offers multiple tenancy options with a minimum divisible space of 800 square feet and currently has 46,700 square feet of vacant space. Ample parking is provided with 300 spaces, including an adjacent parking garage. The building boasts advanced HVAC systems, including two rooftop plants with 95,000 cubic feet of air cooling, eight compressors with 100 tons of cooling/compression capacity, and two 7,500 MBH and two 5,500 MBH boilers for preheat and reheat. Lab air changes are capable of 4-12 per hour, with three strobic exhaust fans. Safety and security are paramount, with a sprinkler system, 100% wet duplex booster pumps, a 24-hour security access system, and an on-duty security guard. A pH neutralization system handles all lab waste, and an 800 kW emergency generator ensures uninterrupted operations. The property's prime location offers close proximity to the Albany Medical Cluster, including Albany Medical Center, St. Peter's Hospital, Albany College of Pharmacy & Health Sciences, Sage Colleges, and SUNY Albany.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 2007
Total area 198,884 SF
Lot 5.35 ac (233,046 SF)
Zoning code CO
APN 010100 76.05-1-8.2
UPID US63-0952067

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
  • General Contractor Renovation Specialist
  • Research Institute
  • Medical Laboratory
  • Physician
  • Medical Clinic

Location

150 New Scotland Ave Albany, NY 12208
Albany metro Census 2100 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
$24.64M
Blend (final) Blend
$19.11M

Owner & transaction history

1 recorded transaction
1969
Price N/A

Zoning & alternative use

CO · Albany, NY
Top alternative use upside
Auto repair, garage $21.6M +51.5%
Commercial (general) $15.6M +9.1%

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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