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Property profile & analytics
FOR LEASE
Office buildings

150 New Scotland Ave Albany, NY 12208

198,884 SF 5.35 ac lot Built 2007
Entity Owned ~ Est. High Equity
Property ID
US63-0952067
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • One Touch Flooring General Contractor Renovation Specialist
  • Center for Medical Sciences Research Institute
  • National Toxicology Center Medical Laboratory
  • Drusano George L MD Physician
  • AlbaNYlabs LLC Medical Clinic
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
Ordway Research Institute INC
Ordway Research Institute INC
1 recorded transaction
1969
Price N/A
Zoning & alternative use
CO · Albany, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $21.6M +51.5%
Commercial (general) $15.6M +9.1%
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