Property profile

1839 Central Ave Albany, NY 12205

FOR LEASE
Strip malls
Property ID
US63-2223116
14,344 SF 2.7 ac lot Built 1986
Entity Owned 16-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional retail opportunity is located at 1839 Central Avenue in Colonie, New York, within a vibrant shopping center. The property boasts a total of 24,007 square feet across two suites, situated on a generous 4.1-acre lot in Albany County. Currently, 3,227 square feet of retail space is available, divisible into units ranging from a minimum of 1,110 square feet to a maximum contiguous space of 2,117 square feet. One available space measures 2,080 square feet, while another offers 1,110 square feet. The center enjoys a prime location near the intersection of Central Avenue and Route 155, benefiting from high visibility and convenient access for customers. This well-established shopping center presents a fantastic chance for businesses seeking a strong presence in a thriving Colonie neighborhood. The property's address is 1839 Central Ave, Albany, NY 12205. The convenient location and flexible space options make this an ideal investment for a variety of retail ventures. The property is zoned for retail use and offers ample parking for customers. This is a rare opportunity to secure retail space in a high-traffic area with excellent visibility. Serious inquiries are encouraged to explore this promising investment prospect.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1986
Total area 14,344 SF
Lot 2.7 ac (117,612 SF)
Zoning code 12
APN 012689 29.11-6-23
UPID US63-2223116

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant
  • Electronics & Wireless Store
  • Barber Shop
  • Medical Supply Store Diabetes Equipment Supplier
  • Dental Office

Location

1839 Central Ave Albany, NY 12205
Albany metro Census 13804 ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$295k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$245k

Owner & transaction history

since 2009
3 recorded transactions
2009
Price N/A
2006
$1.4M
1969
Price N/A

Zoning & alternative use

12 · Albany, NY

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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