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    3 University Pl Rensselaer, NY 12144
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    Property profile & analytics

    3 University Pl Rensselaer, NY 12144

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    • Office buildings
    • 161,972 SF
    • 26.62 lot acres
    For Lease
    $6,010,000
    View Listing →
    Functional Lab Space for Sublease For Lease
    $6,010,000
    31,752 SF

    Functional Lab Space for Sublease

    Three-floor lab space in Capitol District's biomedical hub.

    3 University Pl, Rensselaer, NY
    View Listing
    Property ID
    US63-4187562
    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

    • Amri - Albany (East Campus) / Laboratory

    Property Details for 3 University Pl

    Year built
    1950
    Lot size
    26.62 lot acres
    Property size
    161,972 SF
    Zone code
    OI
    Property type
    Office buildings
    APN
    382400 154.-1-1
    APU
    38240015411

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $5,230,000
      Market price range: $784k - $5.23M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $8,745,000
      Current use
      COMMERCIAL (GENERAL)
      $9,585,000
      Change: +10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Rensselaer
    County
    Rensselaer
    State
    New York
    Longitude
    -73.741
    Latitude
    42.6288
    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
    $124,400
    $25,792,000
    $25,916,400
    -
    $154,765
    $32,087,584
    $32,242,349

    Comparable in this City

    • Value Estimation
      $5,140,000
      64,600 SF

      6-10 Krey Blvd

      OFFICE BUILDING • 64,600 SF
      6-10 Krey Blvd, Rensselaer, NY 12144
      View Details
    • Value Estimation
      $1,210,000
      40,000 SF

      2 Empire Dr

      OFFICE BUILDING • 40,000 SF
      2 Empire Dr, Rensselaer, NY 12144-5730
      View Details
    • Value Estimation by Request
      0.69 Acres

      329 Columbia St

      OFFICE BUILDING • 0.69 Acres
      329 Columbia St, Rensselaer, NY 12144-2920
      View Details
    • Value Estimation by Request
      4.23 Acres

      465 Partition St Ext

      PROFESSIONAL BUILDING • 4.23 Acres
      465 Partition St Ext, Rensselaer, NY 12144
      View Details
    • Value Estimation by Request
      1.12 Acres

      52 Washington St

      OFFICE BUILDING • 1.12 Acres
      52 Washington St, Rensselaer, NY 12144-2834
      View Details
    • Value Estimation by Request
      6,193 SF

      Middle Mannix Rd

      PROFESSIONAL BUILDING • 6,193 SF
      Middle Mannix Rd, Rensselaer, NY 12144
      View Details

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      Rensselaer Commercial Building For Sale

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    • $229,000
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      Rensselaer Commercial Space For Sale

      High-visibility commercial space ideal for auto-driven ventures.
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    • $1,500,000
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      Rensselaer Commercial Building For Sale

      8,500 sq ft commercial building in downtown Rensselaer.
      223 Broadway Ave, Rensselaer, NY 12144
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    • Contact for pricing
      1.20 Acres

      Residential Land in East Greenbush

      Undeveloped 1.2-acre residential parcel near Albany, NY.
      L3 Red Mill Rd, East Greenbush, NY 12144
      View Details
    • $400,000
      Pending

      Four-Unit Brick Multifamily Property

      Four-unit brick property in East Greenbush with high visibility.
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      View Details
    • Contact for pricing

      Vacant Land For Sale

      Vacant land available for sale.
      136 2Nd Ave, Rensselaer, NY 12144
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Building Near Interstate 90

      Modern office building in growing commercial corridor near Tech Valley.
      1 Empire Dr, Rensselaer, NY 12144
      View Details
    • Contact for pricing

      Modern Medical Office Space Available

      Two Class A suites available for medical or office use.
      2 Empire Dr, Rensselaer, NY 12144
      View Details
    • Contact for pricing
      31,752 SF

      Functional Lab Space for Sublease

      Three-floor lab space in Capitol District's biomedical hub.
      3 University Pl, Rensselaer, NY 12144
      View Details
    • $14 SF/Yr
      8,596 SF

      Modern Medical Office Space Available

      Two suites available for lease, medical or office use.
      2 Empire Dr, Rensselaer, NY 12144
      View Details
    • $15 SF/Yr
      Pending

      Rensselaer Office Space For Rent

      Office space with high visibility and ample parking available for rent.
      446 N Greenbush Rd, Rensselaer, NY 12144
      View Details
    • $650 /Mo
      152 SF

      Office Spaces for Rent

      Five office spaces available with included utilities and amenities.
      120 Defreest Dr, Troy, NY 12144
      View Details
    View Listing
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    Rensselaer, NY 12144
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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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