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Property profile & analytics
OFF-MARKET
Estimated value
$1,185,000
Restaurants
1881 Central Ave Albany, NY 12205-4221
Entity Owned
10-yr Hold
Free & Clear
Property ID
US63-1075413
Property summary
AI-generated overview
Located on Central Avenue in Albany, New York, this property offers approximately 9000 square feet of restaurant space typically offered for lease. The site benefits from a high traffic volume, with an Average Annual Daily Traffic (AADT) of over 44,000 cars. It features approximately 75 striped parking spaces. The restaurant equipment was in use until recently. The property is situated across from Colonie Plaza and Colonie Diner at a traffic signal. Additionally, the property includes a four-bedroom apartment on the second floor. The location is near an Aldi, 7 Brew, and Broadview Credit Union.
Property profile
Verified
Property type
Restaurants
Use group
STORE/OFFICE (MIXED USE)
Year built
1960
Total area
11,223 SF
Lot
3.45 ac (150,282 SF)
Zoning code
12
APN
012689 29.10-1-14
UPID
US63-1075413
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
-
Dragon Buffet Restaurant Buffet
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.23M
Blend (final)
Blend
$1.19M
Owner & transaction history
Jak 1881 Central LLC · 10 yrs held
Jak 1881 Central LLC
since 2015
6 recorded transactions
Zoning & alternative use
12 · Albany, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.2M
+38.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$880,000
Current use
AUTO REPAIR, GARAGE
$1,220,000
Change: +39% · Conversion: Difficult
OFFICE BUILDING
$805,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$1.19M
Range $1.07M – $1.30M · ±10%
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
$106 / 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
$1,880,000
Assessed 2023
Previous assessed
$1,880,000
+0.0% YoY
Assessed land
$1,053,000
Assessed improvement
$827,000
Land market value
$2,064,720
Improvement market value
$1,621,580
Total market value
$3,686,300
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
Restaurants
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1960
Heating
NONE
Buildings
2
Stories
2
Total area
11,223 SF
Lot
3.45 ac (150,282 SF)
Zoning code
12
APN
012689 29.10-1-14
UPID
US63-1075413
Jurisdiction
ALBANY
Zoning & alternative use
12 · Albany, NY
Zoning 12 · permitted uses
12 · 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
COMMERCIAL (GENERAL) Current
Est. value
$880,000
AUTO REPAIR, GARAGE
Est. value
$1.2M
OFFICE BUILDING
Est. value
$805,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1960
Heating
NONE
Stories
2
Buildings
2
Lot
3.45 ac
Current owner
From public records · entity-resolved
Jak 1881 Central LLC
Entity
Free & Clear · 10 yrs held
Mailing address
1544 CENTRAL AVE FL #2, ALBANY, NY 12205-5048
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2015
—
Jak 1881 Central LLC
Jak 1881 Central LLC
Quit Claim Deed
related
—
May 3, 2013
$1,000,000
Jak 1881 Central LLC
Referee
Trustees Deed
—
Mar 4, 2009
$1,250,000
1881 Central Avenue LLC
United Commercial Bank
Quit Claim Deed
—
Mar 4, 2009
—
United Commercial Bank
Us Customs & Border Protection
Quit Claim Deed
—
—
—
Jak 1881 Central LLC
—
Deed Of Trust
related
$1,000,000 · National Un Bk/kinderhook
—
—
Jak 1881 Central LLC
—
Deed Of Trust
related
$1,866,755 · National Un Bk/kinderhook
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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