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    1839 Central Ave Albany, NY 12205-4780
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    Property profile & analytics

    1839 Central Ave Albany, NY 12205-4780

    View on Map
    • Strip malls
    • 14,344 SF
    • 2.70 lot acres
    Off-Market
    Property ID
    US63-2223116
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mazadar Mediterranean Kitchen / Restaurant
    • Mr Dealz / Electronics & Wireless Store
    • Jay Allen Barber Studio / Barber Shop
    • AAA Elite Medical Equipment / Orthopedic Shoe Store / Orthotics & Prosthetics Service
    • Williams Gloria V DDS / Dental Office

    Property Details for 1839 Central Ave

    Year built
    1986
    Lot size
    2.70 lot acres
    Property size
    14,344 SF
    Zone code
    12
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    012689 29.11-6-23
    APU
    126892911623

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.848
    Latitude
    42.7318
    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
    $810,000
    $690,000
    $1,500,000
    -
    $1,588,248
    $1,352,952
    $2,941,200

    Comparable in this City

    • Value Estimation by Request
      9,308 SF

      1315 Central Ave

      SHOPPING CENTER, STRIP CENTER • 9,308 SF
      1315 Central Ave, Colonie, NY 12205-5282
      View Details
    • Value Estimation by Request
      22,105 SF

      501 New Karner Rd

      SHOPPING CENTER, STRIP CENTER • 22,105 SF
      501 New Karner Rd, Albany, NY 12205-3874
      View Details
    • Value Estimation by Request
      20,184 SF

      98 Wolf Rd

      SHOPPING CENTER, STRIP CENTER • 20,184 SF
      98 Wolf Rd, Albany, NY 12205-1291
      View Details
    • Value Estimation by Request
      17,376 SF

      155 Wolf Rd

      SHOPPING CENTER, STRIP CENTER • 17,376 SF
      155 Wolf Rd, Albany, NY 12205-1159
      View Details
    • Value Estimation by Request
      19,742 SF

      110 Wolf Rd

      SHOPPING CENTER, STRIP CENTER • 19,742 SF
      110 Wolf Rd, Albany, NY 12205-1244
      View Details
    • Value Estimation
      $4,575,000
      21,872 SF

      79 Wolf Rd

      SHOPPING CENTER, STRIP CENTER • 21,872 SF
      79 Wolf Rd, Albany, NY 12205-2613
      View Details

    Similar Nearby for Sale

    • $1,450,000
      12,000 SF

      Freestanding Building on Central Avenue

      12,000 SF building with high traffic and visibility.
      1735 Central Ave, Colonie, NY 12205
      View Details
    • $659,900
      Pending

      Mixed-Use Property with Income Potential

      High-visibility mixed-use property with immediate cash flow and value-add upside.
      1879 Central Ave, Albany, NY 12205
      View Details
    • $499,000
      3,800 SF

      Retail Property on One Acre

      Retail property on approximately one acre in busy corridor.
      36 Everett Rd, Albany, NY 12205
      View Details
    • $2,499,000
      9,247 SF

      Former Auto Dealership on Central

      9,247 SF former auto dealership with showroom and service center.
      2056 Central Ave, Albany, NY 12205
      View Details
    • Contact for pricing
      1,579 SF

      Turn-Key Hair Salon in Colonie

      Well-maintained salon with spa room, parking, and expansion potential.
      18 Fuller Rd, Colonie, NY 12205
      View Details
    • $325,000
      Pending

      Turn-Key Colonie Hair Salon

      Move-in ready salon with expansion potential in Colonie, NY.
      18 Fuller Rd, Colonie, NY 12205
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,228 SF

      Retail Space with Long-Term Tenants

      Retail property with high visibility and excellent condition for rent.
      1593 Central Ave, Albany, NY 12205
      View Details
    • Contact for pricing
      1,110 SF

      Retail Space in Colonie Center

      Neighborhood shopping center with excellent visibility and ample parking.
      1839 Ny-5, Colonie, NY 12205
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Endcap retail space available with high traffic counts.
      1814 Central Ave, Albany, NY 12205
      View Details
    • Contact for pricing
      4,150 SF

      Regional Shopping Center Retail Space

      Retail space available in a premier regional shopping center.
      1417-1425 Colonie Ctr, Albany, NY 12205
      View Details
    • Contact for pricing

      Community Retail Center For Lease

      Retail center with national and regional tenants in Albany, NY.
      29 Aviation Rd, Albany, NY 12205
      View Details
    • Contact for pricing

      Reimagined Retail Center For Lease

      Community retail center with national and regional tenants.
      7 Metro Park Rd, Albany, NY 12205
      View Details
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    Albany, NY 12205-4780
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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.

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