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    Property profile & analytics

    1894 Central Ave Albany, NY 12205-4223

    • Auto shops
    • 5,962 SF
    • 0.76 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2530493
    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

    • Mavis Discount Tire / (Bike/Boat/Book/etc) Store / Auto Parts Store

    Property Details for 1894 Central Ave

    Year built
    1987
    Lot size
    0.76 lot acres
    Property size
    5,962 SF
    Zone code
    45
    Property type
    Auto shops
    APN
    012601 29.10-2-1.3
    APU
    126012910213

    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
    -73.8526
    Latitude
    42.7341
    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
    $322,500
    $677,500
    $1,000,000
    -
    $632,358
    $1,328,442
    $1,960,800

    Comparable in this City

    • Value Estimation
      $1,085,000
      19,500 SF

      1010 Central Ave

      AUTO REPAIR, GARAGE • 19,500 SF
      1010 Central Ave, Albany, NY 12205-3504
      View Details
    • Value Estimation
      $1,025,000
      19,920 SF

      1517 Central Ave

      AUTO REPAIR, GARAGE • 19,920 SF
      1517 Central Ave, Colonie, NY 12205-5033
      View Details
    • Value Estimation by Request
      7,685 SF

      46 Wolf Rd

      AUTO REPAIR, GARAGE • 7,685 SF
      46 Wolf Rd, Albany, NY 12205-2603
      View Details
    • Value Estimation by Request
      11,080 SF

      65 Railroad Ave

      AUTO REPAIR, GARAGE • 11,080 SF
      65 Railroad Ave, Colonie, NY 12205-5912
      View Details
    • Value Estimation by Request
      1,350 SF

      2067 Central Ave

      AUTO REPAIR, GARAGE • 1,350 SF
      2067 Central Ave, Colonie, NY 12205-4437
      View Details
    • Value Estimation by Request
      3,900 SF

      1550 Central Ave

      AUTO REPAIR, GARAGE • 3,900 SF
      1550 Central Ave, Colonie, NY 12205-5049
      View Details

    Similar Nearby for Sale

    • $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
    • $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
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    • $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
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    • $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
    • $1,150,000
      9,019 SF

      Commercial Buildings on Central Avenue

      Two commercial buildings with large parking lot on 0.74 acres.
      1702 Central Ave, Albany, NY 12205
      View Details
    • $695,000
      5,970 SF

      Flex Building in Colonie

      Unique showroom with warehouse/storage in Colonie, New York.
      390 New Karner Rd, Albany, NY 12205
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Turnkey Auto Detail Center Sublease

      Sublease opportunity: modern, fully built-out auto detail center.
      14 Petra Ln, Albany, NY 12205
      View Details
    • Contact for pricing

      Neighborhood Shopping Center Retail Space

      141,000 SF shopping center anchored by Kohl’s and Farmer's India Market.
      1814 Central Ave, Colonie, NY 12205
      View Details
    • Contact for pricing

      Colonie Retail Space for Rent

      Neighborhood shopping center in Colonie, New York, with available spaces.
      1839 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
    • $1,300 /Mo
      15,044 SF

      Retail Space on Central Avenue

      Affordable retail space with ample parking and high traffic.
      1995 Central Ave, Albany, NY 12205
      View Details

    Property Visit Statistics

    • Visits by month
      1.8k
    • Visitors by month
      1.3k
    • Avg Time on site
      30 min
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    Albany, NY 12205-4223
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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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