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

    2498 Western Ave Altamont, NY 12009-9483

    • Investment properties
    • 1,469 SF
    • 0.77 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1580063
    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

    • Kong P w MD / Alternative Medicine Practice / Acupuncture

    Property Details for 2498 Western Ave

    Year built
    1950
    Lot size
    0.77 lot acres
    Property size
    1,469 SF
    Zone code
    LB
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    013089 39.00-3-6
    APU
    13089390036

    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
    Altamont
    County
    Albany
    State
    New York
    Longitude
    -73.9263
    Latitude
    42.71
    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
    $78,200
    $73,300
    $151,500
    -
    $92,000
    $86,235
    $178,235

    Comparable in this City

    • Value Estimation by Request
      2,054 SF

      2558 Western Ave

      STORE/OFFICE (MIXED USE) • 2,054 SF
      2558 Western Ave, Altamont, NY 12009-9487
      View Details
    • Value Estimation by Request
      3,140 SF

      122 Maple Ave

      STORE/OFFICE (MIXED USE) • 3,140 SF
      122 Maple Ave, Altamont, NY 12009-7718
      View Details
    • Value Estimation by Request
      2,296 SF

      2511 Western Ave

      STORE/OFFICE (MIXED USE) • 2,296 SF
      2511 Western Ave, Altamont, NY 12009-9486
      View Details
    • Value Estimation by Request
      4,424 SF

      2592 Western Ave

      STORE/OFFICE (MIXED USE) • 4,424 SF
      2592 Western Ave, Altamont, NY 12009-9401
      View Details
    • Value Estimation by Request
      2,787 SF

      108 Park St

      STORE/OFFICE (MIXED USE) • 2,787 SF
      108 Park St, Altamont, NY 12009-9900
      View Details
    • Value Estimation by Request
      4,024 SF

      6599 State Rte 158

      STORE/OFFICE (MIXED USE) • 4,024 SF
      6599 State Rte 158, Altamont, NY 12009-5204
      View Details

    Similar Nearby for Sale

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      Vacant Land on Route 20

      1.7 acres of vacant land with RA3 zoning.
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    • $57,000
      2.00 Acres

      Approved Building Lot in Altamont

      2-acre building lot in Guilderland School District with drilled well.
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    • $200,000

      Land in Altamont Village

      Over 31 acres in Altamont, utilities available.
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    • $315,000
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      Versatile Property Near Altamont Village

      Two parcels with income potential near Altamont, NY.
      2 Harold Dr, Altamont, NY 12009
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      11.8-Acre Altamont Property

      Prime 11.8-acre development opportunity in Altamont, NY.
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    • $699,900
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      Versatile Commercial Building in Altamont

      4000+ sqft commercial building with permitted wide range of uses.
      5180 Western Tpke, Altamont, NY 12009
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    Similar Nearby for Lease

    • $18 SF/Yr
      2,500 SF

      Retail Space in Altamont, NY

      Retail suite for lease in Altamont, NY, with ample parking.
      2563 Western Ave, Altamont, NY 12009
      View Details
    • $20 SF/Yr

      Freestanding Building in Altamont Heart

      Former bank building suitable for a cafe operator in Altamont.
      103 Park St, Altamont, NY 12009
      View Details
    • $18 SF/Yr
      12,792 SF

      Neighborhood Retail/Office/Fitness Space Available

      Retail, office, or fitness space in a neighborhood shopping center.
      2563 Western Ave, Altamont, NY 12009
      View Details
    • $16 SF/Yr
      22,180 SF

      Altamont Office Space For Lease

      Prime Albany County location, flexible office suites.
      2568 Western Ave, Altamont, NY 12009
      View Details
    • $2,000 /Mo
      2,000 SF

      Renovated Apartment in Altamont Location

      Second-floor apartment with recent renovations, close to amenities and Albany.
      174 Main St, Altamont, NY 12009
      View Details
    • Contact for pricing
      2,738 SF

      Altamont Restaurant/Retail Opportunity

      Restaurant or retail property with new interior and outdoor space.
      187 Main St, Altamont, NY 12009
      View Details
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    2498 Western Ave
    Altamont, NY 12009-9483
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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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