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

    21 Aviation Rd Albany, NY 12205-1252

    • Office buildings
    • 24,558 SF
    • 1.80 lot acres
    OFF-MARKET
    Value Estimations
    $445,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2138023
    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

    • National Law Enforcement Supply / Uniform Store
    • Capital Region Language Center / Business To Business Service / Translation Service
    • Army Albany Medical Recruiting / Military Recruiting Office / Federal Government Office
    • United Public Services Employees / Labor Union
    • KOM Automation / Industrial Equipment Supplier

    Property Details for 21 Aviation Rd

    Year built
    1972
    Lot size
    1.80 lot acres
    Property size
    24,558 SF
    Zone code
    12
    Property type
    Office buildings
    APN
    012689 42.2-6-14
    APU
    12689422614

    Description

    This single-story, Class B office building at 21 Aviation Road in Albany, NY, offers 24,558 square feet of space on a 1.8-acre site. Built in 1972, the property boasts approximately 108 parking spaces and features a 64% occupancy rate. Three suites are currently available for lease, measuring approximately 900, 2,650, and 4,437 square feet. The building benefits from cross easements with neighboring properties at 14 Computer Drive East and 19 Aviation Road, and is part of a multi-building office park in the Wolf Road Business and Services Corridor, a prime commercial area with ample shopping, hotels, conference centers, and restaurants. The asking price is $1,265,000. The lease type is gross, multi-tenant, and includes lawn sprinklers. Financial details, including income, expenses, and rent rolls, are available upon execution of a confidentiality/non-disclosure agreement. This property presents a compelling opportunity for owner-occupiers or investors seeking a strategic acquisition in a thriving commercial district.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $380,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $507,000
      Market price range: $347k - $958k

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.8038
    Latitude
    42.7162
    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
    $360,000
    $874,000
    $1,234,000
    -
    $705,880
    $1,713,720
    $2,419,600

    Comparable in this City

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    • Value Estimation
      $465,000
      31,960 SF

      3 Marcus Blvd

      OFFICE BUILDING • 31,960 SF
      3 Marcus Blvd, Albany, NY 12205-1140
      View Details
    • Value Estimation
      $515,000
      26,224 SF

      295 Washington Ave Ext

      OFFICE BUILDING • 26,224 SF
      295 Washington Ave Ext, Albany, NY 12205
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    • Value Estimation
      $410,000
      13,035 SF

      315 Washington Ave Ext

      OFFICE BUILDING • 13,035 SF
      315 Washington Ave Ext, Albany, NY 12205
      View Details
    • Value Estimation
      $605,000
      30,372 SF

      5 Washington Sq

      OFFICE BUILDING • 30,372 SF
      5 Washington Sq, Albany, NY 12205-5547
      View Details
    • Value Estimation
      $290,000
      13,872 SF

      319 Washington Ave Ext

      OFFICE BUILDING • 13,872 SF
      319 Washington Ave Ext, Albany, NY 12205
      View Details

    Similar Nearby for Sale

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      Single Story Office For Sale

      Single-story office building with leasing opportunities near Wolf Road.
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      Multi-Tenant Office Building For Sale

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    • $3,199,000
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      Mixed-use property featuring residential and commercial tenants, great cash flow.
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    • $1,200,000
      15,315 SF

      Albany Office Building: 15,315 SF

      Fully leased Class B office building in Albany, NY. Excellent investment opportunity.
      14 Computer Dr, Albany, NY 12205
      View Details
    • $1,450,000
      0.66 Acres

      1735 Central Avenue

      Land • 12,000 SF
      1735 Central Ave, Albany, NY 12205
      View Details
    • $997,500
      1,430 SF

      Albany Office Building: Prime Location

      1,430 SF Office, $997,500
      19 Aviation Rd, Albany, NY 12205
      View Details

    Similar Nearby for Lease

    • $1.00 SF/Yr
      28,836 SF

      Class A Office Building For Lease

      Professionally managed Class A office building with customizable full-floor suites.
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    • $15 SF/Yr
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      Renovated Office Building For Lease

      Renovated office building in excellent condition, suitable for owner occupancy.
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    • Contact for pricing
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      Four-Story Office Building For Lease

      Four-story office building in Albany's Wolf Road submarket.
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      View Details
    • $3,277 /Mo
      76,138 SF

      Well-Appointed Office Building for Lease

      Office building with amenities and convenient access to transportation.
      125 Wolf Rd, Albany, NY 12205
      View Details
    • $16 SF/Yr
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      High Visibility Office Building

      22,000 SF office building near Albany Airport available for rent.
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      View Details
    • $15 SF/Yr
      59,136 SF

      Albany Office Building For Rent

      Office building with on-site parking and public transportation access.
      155 Washington Avenue Ext, Albany, NY 12205
      View Details
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    21 Aviation Rd
    Albany, NY 12205-1252
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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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