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    Property profile & analytics

    1500 Central Ave Albany, NY 12205

    • Office buildings
    • 11,700 SF
    • 0.37 lot acres
    For Lease
    View listing
    $1.00 SF/Yr
    Value Estimation
    $760,000
    Last Sale
    Jul 17, 2024
    $775,000
    Location Intelligence
    Property ID
    US63-2058707
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • J J Young Co / Employment Agency
    • JPL Security Training / Security Guard Service
    • 99 Dollar Income Tax Services / Tax Preparation Service
    • IRECC / Commercial Real Estate Agency
    • Ismaili Jamatkhana / Place Of Worship

    Property Details for 1500 Central Ave

    Year built
    1966
    Lot size
    0.37 lot acres
    Property size
    11,700 SF
    Zone code
    45
    Property type
    Office buildings
    APN
    012601 41.12-6-4
    APU
    12601411264

    Description

    This exceptional 11,700 square foot special purpose property, located at 1500 Central Avenue in Albany County, presents a unique investment opportunity. The single-tenant building sits on a sizable 16,117 square foot lot and boasts a highly desirable location offering excellent visibility for any business. The property features several retail spaces at the front, ideal for customer interaction and showcasing products or services. Behind the retail area, ample office space provides a functional and private work environment. A significant advantage is the availability of over 75 parking spaces, ensuring convenient access for employees and customers alike. The property is offered with a Modified Gross Lease, and pricing varies depending on the specific needs of the tenant. This prime location in the South Colonie area offers exceptional potential for a variety of businesses seeking a prominent and well-equipped space. The substantial lot size also allows for potential future expansion or development. This is a rare opportunity to secure a well-established commercial property in a high-traffic area. Contact us today to learn more about this exceptional offering and discuss lease terms.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $775,000

    • CAP approach

      CAP return
      Estimation
      6%
      $860,000
      6.5%
      $825,000
      7%
      $730,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $720,000
      Geo Method
      $660,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $815,000
      Retail
      $720,000
      Mixed-Use
      $785,000
      Hospitality
      $745,000
      Educational
      $645,000
      Residential Income
      $855,000
      Energy
      $645,000
      Income-Based Land
      $700,000
      Food Service
      $645,000

    Location Insight

    • Map
    • Local Demand
    City
    Colonie
    County
    Albany
    State
    New York
    Longitude
    -73.8278
    Latitude
    42.7125
    CBSA code
    10580
    CBSA name
    ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $111,000
    $339,000
    $450,000
    -
    $217,659
    $664,741
    $882,400

    Comparable in this City

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      OFFICE BUILDING • 43,876 SF
      1762 Central Ave, Albany, NY 12205-4773
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      1718 Central Ave

      OFFICE BUILDING • 1,344 SF
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    • Value Estimation by Request
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      OFFICE BUILDING • 31,960 SF
      1 Marcus Blvd, Albany, NY 12205-5953
      View Details

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    1500 Central Ave
    Albany, NY 12205
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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