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Property profile & analytics
OFF-MARKET
Estimated value
$1,010,000
Medical Office Space
250 Delaware Ave, Delmar, NY 12054-1401
Individually Owned
14-yr Hold
Absentee Owner
Free & Clear
Property ID
US63-2867919
Property summary
AI-generated overview
This exceptional Class A medical office building, located at 250 Delaware Avenue in Albany County, offers a prime opportunity for medical practices seeking flexible and modern space. The 48,000 square foot building features two suites, with up to 6,217 contiguous square feet available for lease. Currently, 12,217 square feet is vacant and can be subdivided to accommodate tenants needing a minimum of 6,000 square feet. The property boasts ample parking, ensuring convenient access for patients and staff. The building is ADA handicap accessible, demonstrating a commitment to inclusivity. For those seeking to customize their space, a generous build-out allowance is available to help create the perfect environment for your practice. This is an ideal location for medical professionals seeking a high-quality, well-maintained building in a desirable area. The multiple tenancy structure allows for a diverse range of medical practices to coexist, creating a vibrant and collaborative atmosphere. Don't miss this chance to secure your ideal medical office space in this exceptional building. Contact us today to learn more about leasing options and availability.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
2012
Total area
49,036 SF
Lot
1.84 ac (80,150 SF)
Zoning code
CH
APN
012200 86.09-4-12
UPID
US63-2867919
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
-
Community Care General Surgery-Delmar Medical Clinic Hospital
-
Laura W. Scordino, MD Physician
-
Capital District Pediatric Dentistry Dental Office
-
Jacqueline E. Bredwood, PA Physician
-
Andrew J. Robinson, MD Ophthalmologist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$635k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.38M
Blend (final)
Blend
$1.01M
Owner & transaction history
Town Of Bethlehem · 14 yrs held
Town Of Bethlehem
since 2012
5 recorded transactions
Zoning & alternative use
CH · Delmar, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.3M
+6.9%
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 Delmar submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Delmar 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
$635,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,185,000
Current use
WAREHOUSE, STORAGE
$1,270,000
Change: +7% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,125,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$1.01M
Range $909k – $1.11M · ±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
$21 / 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
$6,912,150
Assessed 2023
Previous assessed
$6,912,150
+0.0% YoY
Assessed land
$380,000
Assessed improvement
$6,532,150
Land market value
$506,667
Improvement market value
$8,709,533
Total market value
$9,216,200
Applied tax rate
12,206.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Lease
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
2012
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
2
Total area
49,036 SF
Lot
1.84 ac (80,150 SF)
Zoning code
CH
APN
012200 86.09-4-12
UPID
US63-2867919
Jurisdiction
ALBANY
Zoning & alternative use
CH · Delmar, NY
Zoning CH · permitted uses
CH · Delmar, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Delmar. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$1.1M
MEDICAL BUILDING Current
WAREHOUSE, STORAGE
INDUSTRIAL (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
2012
Heating
NONE
Cooling
Yes
Stories
2
Buildings
1
Lot
1.84 ac
Current owner
From public records · entity-resolved
Town Of Bethlehem
Individual
Free & Clear · 14 yrs held
Mailing address
509 STATE RTE 67, MALTA, NY 12020-4334
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
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
Aug 20, 2020
—
Patroon Dev LLC
—
Deed
related
$10,250,000 · Glens Falls Nat'l Bk & Tr Co
Jun 25, 2012
—
Town Of Bethlehem
Patroon Dev LLC
Warranty Deed
—
Oct 19, 2011
$1,500,000
Patroon Dev LLC
Stout Frances S Trust
Grant Deed
related
—
—
—
Patroon Dev LLC
—
Loan Modification
related
$10,250,000 · Glens Falls Nat'l Bk & Tr Co
—
—
Patroon Dev LLC
—
Deed Of Trust
related
$8,500,000 · Glens Falls Nat'l Bank & Trust
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.
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