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    Property profile & analytics

    1892 Central Ave Albany, NY 12205

    • Super regional malls
    • 99,620 SF
    • 15.00 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1555377
    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

    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • Big Lots / Discount Store
    • Sue's Hair Care / Hair Salon
    • Lit Hookah Lounge / Bar & Pub / (Bike/Boat/Book/etc) Store
    • Grace Nail & Spa / Nail Salon

    Property Details for 1892 Central Ave

    Year built
    1987
    Lot size
    15.00 lot acres
    Property size
    99,620 SF
    Zone code
    45
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    012601 29.10-2-1.1
    APU
    126012910211

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.8549
    Latitude
    42.7335
    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
    $2,250,000
    $6,750,000
    $9,000,000
    -
    $4,411,775
    $13,235,325
    $17,647,100

    Comparable in this City

    • Value Estimation by Request
      10,216 SF

      15 Wolf Rd

      REGIONAL SHOPPING CENTER, MALL • 10,216 SF
      15 Wolf Rd, Albany, NY 12205
      View Details
    • Value Estimation
      $1,095,000
      262,422 SF

      19 Wolf Rd

      REGIONAL SHOPPING CENTER, MALL • 262,422 SF
      19 Wolf Rd, Albany, NY 12205
      View Details
    • Value Estimation by Request
      8,610 SF

      1440th Central Ave

      REGIONAL SHOPPING CENTER, MALL • 8,610 SF
      1440th Central Ave, Albany, NY 12205-5056
      View Details
    • Value Estimation
      $28,000,000
      269,366 SF

      1425 Central Ave

      REGIONAL SHOPPING CENTER, MALL • 269,366 SF
      1425 Central Ave, Albany, NY 12205-5027
      View Details
    • Value Estimation by Request
      12,768 SF

      1440 Central Ave

      REGIONAL SHOPPING CENTER, MALL • 12,768 SF
      1440 Central Ave, Albany, NY 12205-5118
      View Details
    • Value Estimation
      $655,000
      124,500 SF

      1430 Central Ave

      REGIONAL SHOPPING CENTER, MALL • 124,500 SF
      1430 Central Ave, Albany, NY 12205
      View Details

    Similar Nearby for Sale

    • $1,450,000
      Pending

      Freestanding Building on Central Avenue

      12000 SF commercial building with high traffic and visibility.
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    • $1,150,000
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      Commercial Buildings on Central Avenue

      Two commercial buildings with large parking lot on 0.74 acres.
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      1,579 SF

      Turn-Key Hair Salon in Colonie

      Well-maintained salon with spa room, parking, and expansion potential.
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    • $659,900
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      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
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    • $2,499,000
      9,247 SF

      Former Auto Dealership on Central

      9,247 SF former auto dealership with showroom and service center.
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    • $499,000
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      Retail Property on One Acre

      Retail property on approximately one acre in busy corridor.
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    Similar Nearby for Lease

    • Contact for pricing

      Community Retail Center For Lease

      Retail center with national and regional tenants in Albany, NY.
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      4,150 SF

      Regional Shopping Center Retail Space

      Retail space available in a premier regional shopping center.
      1417-1425 Colonie Ctr, Albany, NY 12205
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      Reimagined Retail Center For Lease

      Community retail center with national and regional tenants.
      7 Metro Park Rd, Albany, NY 12205
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      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
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    • Contact for pricing
      900 SF

      Retail Space Near Home Depot

      Retail space available near Home Depot with high traffic.
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    • Contact for pricing

      Retail Space Available For Rent

      Endcap retail space available with high traffic counts.
      1814 Central Ave, Albany, NY 12205
      View Details
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    1892 Central Ave
    Albany, NY 12205
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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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