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    286 Washington Avenue Ext Albany, NY 12203

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    286 Washington Avenue Ext Albany, NY 12203

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    • Office buildings
    • 31,780 SF
    • 2.00 lot acres
    For Lease
    $715,000
    View Listing →
    Albany Office Suites for Lease For Lease
    $715,000
    9,315 SF

    Albany Office Suites for Lease

    Multiple office suites available for lease in Albany, NY.

    286 Washington Ave Ext, Albany, NY 12203
    View Listing
    Property ID
    US63-5837187
    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
    $715,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Kerker & Gleeson PC / Law Firm
    • Family Mediation Services / Law Firm
    • Committee on Professional Standards / State Government Office
    • Bradley S Jones - Aflac Insurance Agent / Insurance Agency
    • ChargePoint Charging Station / Electric Vehicle Charging Station

    Property Details for 286 Washington Avenue Ext

    Year built
    1986
    Lot size
    2.00 lot acres
    Property size
    31,780 SF
    Zone code
    CO
    Property type
    Office buildings
    APN
    010100 41.00-2-34
    APU
    101004100234

    Description

    This exceptional two-story, 32,000 square foot office building, situated in Albany's Corporate Plaza Office Park, presents a unique leasing opportunity. The property is zoned MU-CI (Mixed Use, Campus Institutions), offering versatility for a range of professional uses. Currently, there are multiple tenancies, with a significant portion of the building available for lease. Individual suites range from a minimum of 3,170 square feet to a maximum of 9,315 square feet, providing flexibility for businesses of various sizes. A substantial 16,037 square feet is currently vacant, offering immediate occupancy potential. The building boasts a 9-foot ceiling height throughout, creating a spacious and comfortable work environment. Ample parking is provided with 100 spaces available for tenants and their clients. The property's location in Albany, New York, offers easy access to major transportation routes and a vibrant professional community. The address is 286 Washington Avenue Extension, Albany, NY 12203, with the Albany County Assessor's Parcel Number (APN) being 41.00-2-34. This is an excellent opportunity to secure high-quality office space in a desirable location. Contact us today to schedule a viewing and discuss your leasing needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $550,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $512,000
      Market price range: $512k - $1.48M

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.8611
    Latitude
    42.7055
    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
    $1,001,900
    $348,100
    $1,350,000
    -
    $1,414,514
    $491,458
    $1,905,972

    Comparable in this City

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      31,780 SF

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    • Value Estimation
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      23,944 SF

      230 Washington Ave Ext

      OFFICE BUILDING • 23,944 SF
      230 Washington Ave Ext, Albany, NY 12203-5390
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    • Value Estimation
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      7,042 SF

      1924 Western Ave

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      1924 Western Ave, Albany, NY 12203-5077
      View Details
    • Value Estimation
      $915,000
      8,595 SF

      1971 Western Ave, Unit 73

      OFFICE BUILDING • 8,595 SF
      1971 Western Ave, Albany, NY 12203-5066
      View Details
    • Value Estimation
      $660,000
      6,600 SF

      1900 Western Ave

      OFFICE BUILDING • 6,600 SF
      1900 Western Ave, Albany, NY 12203-5019
      View Details
    • Value Estimation by Request
      20,060 SF

      210 Washington Ave Ext

      OFFICE BUILDING • 20,060 SF
      210 Washington Ave Ext, Albany, NY 12203-6339
      View Details

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    Similar Nearby for Lease

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      Albany Office Space for Lease

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      Professional Office Suites For Lease

      Multiple office suites available in professional office building.
      286 Washington Avenue Ext, Albany, NY 12203
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      Professional Office Suites For Lease

      Office suites available in professional building with natural light.
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      Medical Office Sublease Opportunity

      Class A medical office space available for sublease.
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      Prime Office Space Available

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      Albany Office Suites for Lease

      Multiple office suites available for lease in Albany, NY.
      286 Washington Avenue Ext, Albany, NY 12203
      View Details
    View Listing
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    Albany, NY 12203
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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.

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    286 Washington Avenue Ext, Albany, NY, 12203

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