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

    1879 Altamont Ave Schenectady, NY 12303

    • Grocery and convenience stores
    • 78,240 SF
    • 10.55 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5451940
    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

    • Eugene Jackey / Pharmacy
    • Hair Studio One - Rotterdam, NY / Hair Salon
    • Design Nail Salon / Nail Salon
    • Central Market Florist / Florist
    • Citizens ATM / Atm

    Property Details for 1879 Altamont Ave

    Year built
    2000
    Lot size
    10.55 lot acres
    Property size
    78,240 SF
    Zone code
    B-2
    Property type
    Grocery and convenience stores
    APN
    422800 59.9-2-13.11/1
    APU
    422800599213111

    Description

    This exceptional 92,440 square foot shopping center, situated on a 10.55-acre lot at 1879 Altamont Avenue in Schenectady, NY 12303, presents a rare leasing opportunity. Anchored by a Market 32, this well-established center boasts a prime location at a busy Rotterdam intersection, ensuring high visibility and foot traffic. The property, built in 1970 and zoned Commercial B-2, offers a versatile space ideal for a variety of retail businesses. Currently, approximately 2,750 square feet of retail space is available for lease. The center's multiple tenancy structure provides a vibrant and diverse shopping environment. This property is located in Albany County within the Rotterdam submarket, offering easy access to major transportation routes and a strong customer base. The available space provides a unique chance to establish a presence in a thriving retail hub. Interested parties should note the total building size of 92,440 square feet and the convenient location in a well-established and busy commercial area. This is a remarkable opportunity to secure a space in a high-demand location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,440,000
      Current use
      WAREHOUSE, STORAGE
      $2,690,000
      Change: +10% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $2,150,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Schenectady
    County
    Schenectady
    State
    New York
    Longitude
    -73.9552
    Latitude
    42.7821
    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
    $819,000
    $7,758,600
    $8,577,600
    -
    $1,077,630
    $10,208,670
    $11,286,300

    Comparable in this City

    • Value Estimation
      $1,440,000
      47,951 SF

      Western Tpke

      GROCERY, SUPERMARKET • 47,951 SF
      Western Tpke, Schenectady, NY 12303
      View Details
    • Value Estimation by Request
      21,800 SF

      1520 Altamont Ave

      GROCERY, SUPERMARKET • 21,800 SF
      1520 Altamont Ave, Schenectady, NY 12303-2146
      View Details
    • Value Estimation by Request
      3,217 SF

      959 Crane St

      FINANCIAL BUILDING • 3,217 SF
      959 Crane St, Schenectady, NY 12303-1140
      View Details
    • Value Estimation by Request
      2,228 SF

      1963 Altamont Ave

      FINANCIAL BUILDING • 2,228 SF
      1963 Altamont Ave, Schenectady, NY 12303-3803
      View Details
    • Value Estimation by Request
      5,601 SF

      1828 Altamont Ave

      FINANCIAL BUILDING • 5,601 SF
      1828 Altamont Ave, Schenectady, NY 12303-3802
      View Details
    • Value Estimation by Request
      2,962 SF

      1900 Altamont Ave

      FINANCIAL BUILDING • 2,962 SF
      1900 Altamont Ave, Schenectady, NY 12303-3804
      View Details

    Similar Nearby for Sale

    • $1,400,000
      Pending

      Established Retail Business on Carman Rd

      Turnkey retail business opportunity with building, license, and equipment included.
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      Mixed-use property with residential unit and commercial spaces in Schenectady.
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      Mixed-Use Investment in Schenectady

      Versatile mixed-use property with commercial storefronts and residential apartment.
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      Mixed-Use Property with Bar/Restaurant

      Mixed-use property featuring four units, bar/restaurant, and potential for expansion.
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      Turn-Key Auto Body Business

      Established auto body business with equipment and recent addition.
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    Similar Nearby for Lease

    • Contact for pricing
      2,442 SF

      Bank Branch or Redevelopment Opportunity

      Existing bank branch or redevelopment site in Rotterdam, NY.
      3083 Carman Rd, Rotterdam, NY 12303
      View Details
    • Contact for pricing
      2,094 SF

      Retail Space in Schenectady Plaza

      Retail spaces available in plaza with national tenant mix.
      1400 Altamont Ave, Schenectady, NY 12303
      View Details
    • Contact for pricing
      1,750 SF

      Built-Out Hair Salon Available

      Fully built-out hair salon with excellent visibility and ample parking.
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      View Details
    • $1,000 /Mo
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      Commercial Space on Hamburg Street

      Versatile commercial space with excellent visibility and ample parking.
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    • $18 SF/Yr
      90,344 SF

      Market 32 Plaza Retail Space

      Retail space in supermarket-anchored plaza, available September 1, 2025.
      1879 Altamont Ave, Rotterdam, NY 12303
      View Details
    • $12 SF/Yr
      9,689 SF

      Hamburg Street Retail/Office Space

      Retail or office space available in neighborhood plaza on Hamburg Street.
      2727 Hamburg St, Rotterdam, NY 12303
      View Details
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    Schenectady, NY 12303
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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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