170 Wolf Rd Albany, NY 12205-1116
- Turn key restaurants
- 9,415 SF
- 2.34 lot acres
Current Use by Public Records
- Red Lobster / Restaurant / Seafood Restaurant
Property Details for 170 Wolf Rd
- Year built
- 1999
- Lot size
- 2.34 lot acres
- Property size
- 9,415 SF
- Zone code
- 12
- Property type
- Turn key restaurants
- APN
- 012689 30.4-1-5
- APU
- 1268930415
Description
This exceptional investment opportunity presents a 9,474 square foot Red Lobster restaurant located at 170 Wolf Rd, Albany, NY 12205. The property boasts a Class A, single-tenant, net lease with a highly-rated corporate tenant, Red Lobster, under a 25.5-year absolute triple-net (NNN) lease with approximately 16.5 years remaining on the base term. The lease includes four, five-year tenant renewal options, extending the potential lease term to 45 years. Annual rental increases of 2% provide consistent income growth. The property's strong financial performance is reflected in a 6.77% cap rate and a net operating income (NOI) of $474,046, with an asking price of $7,000,000 ($738.86/sq ft). The location within a dense retail corridor in Albany, NY, benefits from high traffic counts exceeding 26,070, 103,000, and 28,200 vehicles daily on Wolf Road, Interstate-87, and Albany Shaker Road, respectively. The area is further enhanced by the presence of major retailers such as Bed Bath & Beyond, Hannaford's, Hobby Lobby, Whole Foods, Trader Joe's, Macy's, CVS Pharmacy, Starbucks, Panera Bread, The Cheesecake Factory, P.F. Chang's, Olive Garden, and McDonald's. The strong academic presence of Rensselaer Polytechnic Institute and the University of Albany, with a combined enrollment of approximately 25,000 students, contributes to a robust and growing demographic base exceeding 171,700 individuals within a five-mile radius, with average household incomes exceeding $100,000 within three miles. The area also features numerous hotels, including Homewood Suites, Hampton Inn & Suites, Holiday Inn, Residence Inn, Fairfield Suites, Red Lion Hotel, the Marriott, and Sure Stay. This property is less than two miles from Albany International Airport, offering exceptional accessibility and visibility. 100% occupancy ensures immediate cash flow.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $300,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Albany
- State
- New York
- Longitude
- -73.8029
- Latitude
- 42.7226
- CBSA code
- 10580
- CBSA name
- ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA
