New search
Property profile & analytics
OFF-MARKET
Estimated value
$6,105,000
Office buildings
22 New Scotland Ave Albany, NY 12208-3795
Individually Owned
7-yr Hold
Free & Clear
Property ID
US63-5742711
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2008
Total area
62,016 SF
Lot
0.55 ac (23,981 SF)
Zoning code
CO
APN
010100 76.05-1-15
UPID
US63-5742711
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
-
Barbara Ostrov, MD Pediatrician
-
Adam Rowden Physician
-
Gillian Taormina, DO Physician
-
Jency Daniel, MD Physician
-
Dr. Maricarmen Lopez-Pena Pediatrician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.68M
Blend (final)
Blend
$6.11M
Owner & transaction history
Albany Medical Center · 7 yrs held
Albany Medical Center
since 2019
5 recorded transactions
Zoning & alternative use
CO · Albany, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$6.7M
+51.5%
Commercial (general)
$4.9M
+9.1%
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
OFFICE BUILDING
$4,450,000
Current use
AUTO REPAIR, GARAGE
$6,745,000
Change: +52% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,860,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$6.11M
Range $5.49M – $6.72M · ±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
$98 / 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
$9,028,400
Assessed 2023
Previous assessed
$9,028,400
+0.0% YoY
Assessed land
$275,800
Assessed improvement
$8,752,600
Land market value
$389,383
Improvement market value
$12,357,193
Total market value
$12,746,576
Applied tax rate
10,100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
2008
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
4
Total area
62,016 SF
Lot
0.55 ac (23,981 SF)
Zoning code
CO
APN
010100 76.05-1-15
UPID
US63-5742711
Jurisdiction
ALBANY
Zoning & alternative use
CO · Albany, NY
Zoning CO · permitted uses
CO · 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
OFFICE BUILDING Current
Est. value
$4.5M
AUTO REPAIR, GARAGE
Est. value
$6.7M
COMMERCIAL (GENERAL)
Est. value
$4.9M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
2008
Heating
NONE
Cooling
Yes
Stories
4
Buildings
1
Lot
0.55 ac
Current owner
From public records · entity-resolved
Albany Medical Center
Individual
Free & Clear · 7 yrs held
Mailing address
43 NEW SCOTLAND AVEMC-29, ALBANY, NY 12208-3412
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 26, 2019
$7,244,000
Albany Medical Center
22 New Scotland Avenue LLC
Grant Deed
—
Jun 17, 2008
$2,400,000
22 New Scotland Avenue LLC
Mysliborski,judith A
Grant Deed
—
Jun 17, 2008
—
L & J Realty Of Glenmont LLC
Hill,jerome C
Grant Deed
related
—
—
—
22 New Scotland Avenue LLC
—
Loan Modification, Consolidation And Extension
related
$9,800,000 · First Niagara Bk
—
—
22 New Scotland Avenue LLC
—
Deed Of Trust
related
$454,599 · First Niagra Bk Fsb
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 22 New Scotland Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
