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    260 Delaware Ave Albany, NY 12209
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    260 Delaware Ave Albany, NY 12209

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    • Commercial real estate
    • 1,680 SF
    • 0.61 lot acres
    For Sale
    $279,995
    View Listing →
    Albany Multifamily on Delaware Avenue For Sale
    $279,995
    1,680 SF

    Albany Multifamily on Delaware Avenue

    Desirable Albany multifamily property with two units on Delaware Avenue.

    260 Delaware Avenue, Albany, NY 12209
    View Listing
    Property ID
    US63-1858929
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ariana Kalamaras / Pharmacy

    Property Details for 260 Delaware Ave

    Year built
    1867
    Lot size
    0.61 lot acres
    Property size
    1,680 SF
    Property type
    Commercial real estate
    APN
    010100 76.54-4-13

    Description

    This exceptional multifamily property, located on the coveted Delaware Avenue in Albany, NY, presents a compelling investment opportunity. The building, constructed in 1867, boasts a total of 1,680 square feet across two stories and sits on a sizable 0.61-acre lot. The property features two rental units; the first floor unit comprises two bedrooms, one full bathroom, and a spacious kitchen. The second floor unit offers one bedroom and one full bathroom. Both units are currently rented, providing immediate cash flow. The property includes six parking spaces, a significant advantage in this location. The building features 8-foot ceilings throughout. This property is zoned for residential use and has an Albany County APN of 010100 76.54-4-13. The asking price is $279,950, translating to $166.64 per square foot. This property is conveniently located at 260 Delaware Avenue, Albany, NY 12209. It can be purchased individually or in conjunction with the adjacent property at 256 Delaware Avenue. This presents a rare chance to acquire a well-located, income-generating multifamily property in a thriving Albany neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.7752498
    Latitude
    42.6435276

    Comparable in this City

    • $425,000
      3,368 SF

      Turn Key Albany Multifamily Property

      Four-unit multifamily property with new appliances and off-street parking.
      499 Delaware Ave, Albany, NY 12209
      View Details
    • $279,995
      Pending

      Albany Multifamily on Delaware Avenue

      Desirable Albany multifamily property with two units on Delaware Avenue.
      260 Delaware Ave, Albany, NY 12209
      View Details
    • $160,000
      Pending

      Albany Two-Family Property For Sale

      Two-family property in Albany, suitable for owner-occupancy or investment.
      484 Delaware Ave, Albany, NY 12209
      View Details
    • New
      $340,000
      2,464 SF

      Turnkey Triplex in Delaware Avenue

      Albany triplex with strong income potential and recent upgrades.
      219 Delaware Ave, Albany, NY 12209
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    • $264,900
      Pending

      Updated Two-Family Property in Albany

      Updated two-family property, ideal for owner-occupants or investors.
      8 Stanwix St, Albany, NY 12209
      View Details
    • $299,000
      Pending

      Well-Maintained Albany Triplex For Sale

      Three-unit property with income potential near Delaware Avenue.
      288 Morton Ave, Albany, NY 12209
      View Details

    Similar Nearby for Sale

    • $160,000
      Pending

      Albany Two-Family Property For Sale

      Two-family property in Albany, suitable for owner-occupancy or investment.
      484 Delaware Ave, Albany, NY 12209
      View Details
    • New
      $340,000
      2,464 SF

      Turnkey Triplex in Delaware Avenue

      Albany triplex with strong income potential and recent upgrades.
      219 Delaware Ave, Albany, NY 12209
      View Details
    • $425,000
      3,368 SF

      Turn Key Albany Multifamily Property

      Four-unit multifamily property with new appliances and off-street parking.
      499 Delaware Ave, Albany, NY 12209
      View Details
    • $279,995
      Pending

      Albany Multifamily on Delaware Avenue

      Desirable Albany multifamily property with two units on Delaware Avenue.
      260 Delaware Ave, Albany, NY 12209
      View Details
    • $264,900
      Pending

      Updated Two-Family Property in Albany

      Updated two-family property, ideal for owner-occupants or investors.
      8 Stanwix St, Albany, NY 12209
      View Details
    • $299,000
      Pending

      Well-Maintained Albany Triplex For Sale

      Three-unit property with income potential near Delaware Avenue.
      288 Morton Ave, Albany, NY 12209
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      10 Acres Commercial Land Available

      10 acres of commercial land with high traffic and visibility.
      351 Southern Blvd, Albany, NY 12209
      View Details
    • Contact for pricing
      204,000 SF

      Albany Warehouse Space Available

      204,000 square foot warehouse space for lease in Albany.
      451 Southern Blvd, Albany, NY 12209
      View Details
    View Listing
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    Albany, NY 12209
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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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