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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1571 Central Ave Albany, NY 12205-2405

    • Office buildings
    • 1,081 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $200,000
    Show details
    Cap Rate Potential
    7.7%
    Office buildings
    Location Intelligence
    Property ID
    US63-2426245
    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

    • 518 Realty.com Inc. / Real Estate Agency / Real Estate Agent
    • 518REALTY.COM / Real Estate Agents
    • Tracy Fraim ~ Associate Broker & Top Producer / Real Estate Agency
    • Fern Sells Real Estate / Real Estate Agent
    • Keith Wells, 518 Realty / Real Estate Agent

    Property Details for 1571 Central Ave

    Year built
    1959
    Lot size
    0.17 lot acres
    Property size
    1,081 SF
    Zone code
    45
    Property type
    Office buildings
    APN
    012601 41.8-6-42
    APU
    12601418642

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $205,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $265,000
      6.5%
      $245,000
      7%
      $225,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $133,000
      Market price range: $20.2k - $134k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.8304
    Latitude
    42.716
    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
    $51,000
    $84,000
    $135,000
    -
    $99,998
    $164,702
    $264,700

    Comparable in this City

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      32,768 SF

      4 Atrium Dr

      PROFESSIONAL BUILDING • 32,768 SF
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    • Value Estimation
      $320,000
      19,438 SF

      1988 Central Ave

      OFFICE BUILDING • 19,438 SF
      1988 Central Ave, Albany, NY 12205-4535
      View Details
    • Value Estimation
      $740,000
      35,571 SF

      15 Computer W Dr

      OFFICE BUILDING • 35,571 SF
      15 Computer W Dr, Colonie, NY 12205-1606
      View Details
    • Value Estimation
      $435,000
      24,000 SF

      4 Computer W Dr

      OFFICE BUILDING • 24,000 SF
      4 Computer W Dr, Colonie, NY 12205-1636
      View Details
    • Value Estimation
      $535,000
      33,130 SF

      9 Washington Sq

      OFFICE BUILDING • 33,130 SF
      9 Washington Sq, Albany, NY 12205-5525
      View Details
    • Value Estimation
      $660,000
      37,262 SF

      7 Washington Sq

      OFFICE BUILDING • 37,262 SF
      7 Washington Sq, Albany, NY 12205-5507
      View Details

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      Mixed-Use Property with High-End Finishes

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      Single-story office building with leasing opportunities near Wolf Road.
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    • $1,200,000
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      Albany Office Building: 15,315 SF

      Fully leased Class B office building in Albany, NY. Excellent investment opportunity.
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    • $1,450,000
      0.66 Acres

      1735 Central Avenue

      Land • 12,000 SF
      1735 Central Ave, Albany, NY 12205
      View Details

    Similar Nearby for Lease

    • $1.00 SF/Yr
      28,836 SF

      Class A Office Building For Lease

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    • $15 SF/Yr
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      Albany Office Building For Rent

      Office building with on-site parking and public transportation access.
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    • $15 SF/Yr
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      Renovated Office Building For Lease

      Renovated office building in excellent condition, suitable for owner occupancy.
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    • Contact for pricing
      19,838 SF

      Four-Story Office Building For Lease

      Four-story office building in Albany's Wolf Road submarket.
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    • $3,277 /Mo
      76,138 SF

      Well-Appointed Office Building for Lease

      Office building with amenities and convenient access to transportation.
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      View Details
    • $16 SF/Yr
      22,000 SF

      High Visibility Office Building

      22,000 SF office building near Albany Airport available for rent.
      441 New Karner Rd, Albany, NY 12205
      View Details
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    1571 Central Ave
    Albany, NY 12205-2405
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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