Back to Search
Property profile & analytics
FOR LEASE
Strip malls
3770 Carman Rd Schenectady, NY 12303
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-3133029
For Lease
1 / 2
$535,000
3770 Carman Rd, Schenectady, NY 12303
View Listing →
Property summary
AI-generated overview
Carman Plaza, located at 3770 Carman Road in Schenectady, NY 12303, offers exceptional retail space in Schenectady County. This multi-tenant property encompasses 34,000 square feet and sits on a 0.71-acre lot. Currently, there are two suites available, with a minimum divisible space of 1,750 square feet and a maximum contiguous space of 5,175 square feet. A total of 6,925 square feet is currently vacant. The property boasts ample parking for tenants and customers. One available space is a fully built-out, state-of-the-art hair salon, ideal for a beauty business. The landlord is also willing to construct up to an additional 5,100 square feet of space, potentially including a drive-thru, to suit a tenant's specific needs, such as a bank. The property benefits from excellent visibility and accessibility. This prime location presents a unique opportunity for businesses seeking high-traffic exposure and convenient parking in Schenectady, New York.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1994
Total area
34,460 SF
Lot
6.11 ac (266,152 SF)
Zoning code
LB
APN
013089 27.19-3-42.1
UPID
US63-3133029
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
-
Casa Real Mexican Restaurant Restaurant
-
Bamboo Restaurant Restaurant
-
Stephanie Mahoney - State Farm Insurance Agent Insurance Agency
-
Corner Ice Cream Store Grocery & Convenience Store Specialty Food Shop
-
CARMAN PLAZA Shopping Center & Mall
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$380k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$695k
Blend (final)
Blend
$535k
Owner & transaction history
Carman Realty LLC · 10 yrs held
Carman Realty LLC
since 2016
2 recorded transactions
Zoning & alternative use
LB · Schenectady, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Schenectady submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Schenectady 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
$380,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$555,000
Current use
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$16 / 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
$3,351,000
Assessed 2023
Previous assessed
$3,351,000
+0.0% YoY
Assessed land
$376,000
Assessed improvement
$2,975,000
Land market value
$442,353
Improvement market value
$3,500,000
Total market value
$3,942,353
Applied tax rate
13,002.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1994
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
34,460 SF
Lot
6.11 ac (266,152 SF)
Zoning code
LB
APN
013089 27.19-3-42.1
UPID
US63-3133029
Jurisdiction
ALBANY
Zoning & alternative use
LB · Schenectady, NY
Zoning LB · permitted uses
LB · Schenectady, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Schenectady. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$555,000
NEIGHBORHOOD: SHOPPING CENTER Current
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
1994
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
6.11 ac
Current owner
From public records · entity-resolved
Carman Realty LLC
Entity
Mailing address
4017 STATE STB, SCHENECTADY, NY 12304-4278
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2016
—
Carman Realty LLC
—
Deed
related
$1,893,000 · Bank Of Greene Cnty
—
—
Carman Realty LLC
—
Deed Of Trust
related
$1,893,000 · Bank Of Greene Cnty
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
