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    Property profile & analytics

    35 Empire State Blvd Castleton, NY 12033-9777

    • Office buildings
    • 20,320 SF
    • 4.39 lot acres
    OFF-MARKET
    Value Estimations
    $1,950,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5444848
    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

    • Rebecca Gildersleeve, MD / Pediatrician / Medical Clinic
    • Rommel Tolentino, MD / Physician
    • Leonard A Leonidas, MD / Physician
    • Aaron Quidort, MD / Physician
    • Paige Evans, PA-C / Physician

    Property Details for 35 Empire State Blvd

    Year built
    2016
    Lot size
    4.39 lot acres
    Property size
    20,320 SF
    Zone code
    PD-3
    Property type
    Office buildings
    APN
    384489 178.-12-31.2
    APU
    38448917812312

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,589,000
      Market price range: $656k - $1.59M
      AI Estimate
      $1,808,000
      Market price range: $370k - $1.81M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,695,000
      COMMERCIAL (GENERAL)
      $1,200,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Castleton
    County
    Rensselaer
    State
    New York
    Longitude
    -73.6811
    Latitude
    42.5746
    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
    $95,200
    $3,404,800
    $3,500,000
    -
    $127,358
    $4,554,916
    $4,682,274

    Comparable in this City

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      6,000 SF

      1580 Columbia Tpke

      OFFICE BUILDING • 6,000 SF
      1580 Columbia Tpke, Castleton, NY 12033-9500
      View Details
    • Value Estimation
      $715,000
      17,012 SF

      1545-1547 Columbia Tpke

      PROFESSIONAL BUILDING • 17,012 SF
      1545-1547 Columbia Tpke, Castleton, NY 12033
      View Details
    • Value Estimation by Request
      5,200 SF

      4151 Us Hwy 20

      OFFICE BUILDING • 5,200 SF
      4151 Us Hwy 20, Castleton, NY 12033
      View Details
    • Value Estimation by Request
      4,346 SF

      1930 Rte 9th 9

      OFFICE BUILDING • 4,346 SF
      1930 Rte 9th 9, Castleton, NY 12033-9607
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    • Value Estimation by Request
      3,704 SF

      1969 Ferndale Rd

      OFFICE BUILDING • 3,704 SF
      1969 Ferndale Rd, Castleton, NY 12033-9623
      View Details
    • Value Estimation
      $1,320,000
      43,328 SF

      2500 Pond Vw

      PROFESSIONAL BUILDING • 43,328 SF
      2500 Pond Vw, Castleton On Hudson, NY 12033-9750
      View Details

    Similar Nearby for Sale

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      Office Space Near I-90 Exit

      Office space with meeting room, remodeled kitchen, and ample parking.
      1670 Columbia Tpke, Castleton on Hudson, NY 12033
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    • New
      $724,999
      6,200 SF

      Castleton Office Space For Sale

      Office space on Columbia Turnpike, 15 minutes from Albany.
      1670 Columbia Tpke, Castleton, NY 12033
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    • $307,692
      3.17 Acres

      Castleton-on-Hudson Mixed-Use Property

      Four-unit apartment building with barn, renovation potential.
      982 Schodack Rd, Castleton-on-Hudson, NY 12033
      View Details
    • $185,000
      10.00 Acres

      Residential Land in Castleton, NY

      10-acre residential land parcel with road frontage in Schodack.
      L1.2 Phillips Rd, Castleton, NY 12033
      View Details
    • $245,000
      6,000 SF

      Castleton On Hudson Tavern/Restaurant

      Equipped tavern/restaurant with apartment potential in a neighborhood location.
      100 S Main St, Castleton on Hudson, NY 12033
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    • $390,000
      7.42 Acres

      Commercial Land with Road Frontage

      7.42 acres of commercial land in a desirable location.
      1598 Columbia Tpke, Castleton, NY 12033
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    Similar Nearby for Lease

    • $1,800 /Mo
      8,226 SF

      Professional Office Space For Rent

      Well-laid out office space suitable for office, medical, and spa services.
      1654 Columbia Tpke, Castleton on Hudson, NY 12033
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    • $1,900 /Mo
      8,226 SF

      Professional Office Space For Rent

      Well-laid out office space suitable for office, medical, or spa services.
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      View Details
    • Contact for pricing
      450,000 SF

      Schodack Build-to-Suit Opportunity

      42.41 acres available for lease, build to suit opportunity.
      71 Schodack Dr, Castleton, NY 12033
      View Details
    • $650 /Mo
      7,500 SF

      Main Street Retail Space Available

      Renovated commercial space in the heart of Castleton's Main Street.
      98 S Main St, Castleton on Hudson, NY 12033
      View Details
    • Contact for pricing

      Castleton Industrial Land Lease

      Build-to-suit opportunity, ±42 acres.
      71 Schodack Dr, CASTLETON, NY 12033
      View Details
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    35 Empire State Blvd
    Castleton, NY 12033-9777
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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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