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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Office buildings
1698 Central Ave Albany, NY 12205-4000
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-2556745
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1967
Total area
6,061 SF
Lot
1.73 ac (75,359 SF)
Zoning code
45
APN
012601 29.19-5-8
UPID
US63-2556745
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
-
Big Brothers Big Sisters Child Welfare Organization Charitable Organization
-
The Luxury Room - Lashes & Airbrush Tanning Hair Salon
-
Glabella Beauty Spa Hair Salon
-
Stockbridge Capital, LLC Loan Service Bank
-
D Tech Support Center (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$460k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$654k
Blend (final)
Blend
$590k
Owner & transaction history
Sp Property Rentals And Design LLC · 3 yrs held
Sp Property Rentals And Design LLC
since 2022
Last sale
$700,000
4 recorded transactions
Zoning & alternative use
45 · Albany, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$660,000
+51.5%
Commercial (general)
$475,000
+9.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Albany submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Albany submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$435,000
ML approach
$460,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$435,000
Current use
AUTO REPAIR, GARAGE
$660,000
Change: +52% · Conversion: Difficult
COMMERCIAL (GENERAL)
$475,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$590k
Range $531k – $649k · ±10% · vs last sale $700k (Aug 17 2022)
Last sale anchor
$700k
Aug 17 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$97 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$543,000
Assessed 2023
Previous assessed
$543,000
+0.0% YoY
Assessed land
$190,900
Assessed improvement
$352,100
Land market value
$374,312
Improvement market value
$690,388
Total market value
$1,064,700
Applied tax rate
12,601.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1967
Heating
HOT WATER
Cooling
CENTRAL
Buildings
8
Stories
2
Bathrooms
2
Total area
6,061 SF
Lot
1.73 ac (75,359 SF)
Zoning code
45
APN
012601 29.19-5-8
UPID
US63-2556745
Jurisdiction
ALBANY
Zoning & alternative use
45 · Albany, NY
Zoning 45 · permitted uses
45 · Albany, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Albany. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$435,000
AUTO REPAIR, GARAGE
Est. value
$660,000
COMMERCIAL (GENERAL)
Est. value
$475,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1967
Heating
HOT WATER
Cooling
Yes
Stories
2
Buildings
8
Bathrooms
2
Lot
1.73 ac
Current owner
From public records · entity-resolved
Sp Property Rentals And Design LLC
Entity
Mailing address
235 N ALANDALE AVE, SCHENECTADY, NY 12304-2437
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 17, 2022
$700,000
Sp Property Rentals And Design LLC
1698 Central Avenue LLC
Deed
$740,070 · Sunmark FCU
Mar 29, 2011
—
Fgr Associates LLC
—
Grant Deed
related
$1,950,000 · First National Bank Scotia
Jul 7, 2009
—
Fgr Associates LLC
—
Deed Of Trust
related
$1,950,000 · First National Bank Scotia
—
—
Tate Family LP
—
Deed Of Trust
related
$455,000 · First National Bank Scotia
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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