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    3770 Carman Rd Schenectady, NY 12303
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    Property profile & analytics

    3770 Carman Rd, Schenectady, NY 12303

    View on Map
    • Strip malls
    • 34,460 SF
    • 6.11 lot acres
    For Lease
    $535,000
    View Listing →
    Built-Out Hair Salon Available For Lease
    $535,000
    1,750 SF

    Built-Out Hair Salon Available

    Fully built-out hair salon with excellent visibility and ample parking.

    3770 Carman Rd, Schenectady, NY
    View Listing
    Property ID
    US63-3133029
    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
    $535,000
    Cap Rate Potential
    Location Intelligence

    Current Use by 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

    Property Details for 3770 Carman Rd

    Year built
    1994
    Lot size
    6.11 lot acres
    Zone code
    LB
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    013089 27.19-3-42.1
    APU
    1308927193421

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $380,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $695,000
      Market price range: $159k - $882k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $555,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Schenectady
    County
    Albany
    State
    New York
    Longitude
    -73.936
    Latitude
    42.7226
    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
    $376,000
    $2,975,000
    $3,351,000
    -
    $442,353
    $3,500,000
    $3,942,353

    Comparable in this City

    • Value Estimation
      $1,245,000
      202,050 SF

      1400 Altamont Ave, Unit 1428

      SHOPPING CENTER, STRIP CENTER
      1400 Altamont Ave, Schenectady, NY 12303-2909
      View Details
    • Value Estimation by Request
      21,118 SF

      1702 Chrisler Ave

      SHOPPING CENTER, STRIP CENTER
      1702 Chrisler Ave, Schenectady, NY 12303-1565
      View Details
    • Value Estimation by Request
      0.43 Acres

      1400 Altamont Ave

      SHOPPING CENTER, STRIP CENTER
      1400 Altamont Ave, Schenectady, NY 12303-2909
      View Details
    • Value Estimation
      $800,000
      127,864 SF

      1320 Altamont Ave

      MINI-MALL
      1320 Altamont Ave, Schenectady, NY 12303-2924
      View Details
    • Value Estimation by Request
      13,241 SF

      1612 Chrisler Ave

      MINI-MALL
      1612 Chrisler Ave, Schenectady, NY 12303-1829
      View Details
    • Value Estimation by Request
      10,416 SF

      731 Crane St

      MINI-MALL
      731 Crane St, Schenectady, NY 12303
      View Details

    Similar Nearby for Sale

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      Rare vacancy offers flexible storefront space in a Market32-anchored neighborhood center with strong intersection visibility.
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    • $2,700,000
      7,164 SF

      Corner Lot Development Opportunity

      Highly visible corner lot ideal for retail or office development.
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      Prime Corner Development Opportunity

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      2,400 SF

      Turn-Key Auto Body Business

      Established auto body business with equipment and high traffic location.
      1125 Altamont Ave, Rotterdam, NY 12303
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    • $2,400,000
      1.01 Acres

      Corner Lot Development Opportunity

      Prime commercial land in Rotterdam, NY, for retail or office.
      1874 Altamont Ave, Schenectady, NY 12303
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    • $325,000
      2,545 SF

      Schenectady Mixed-Use Commercial Property

      Mixed-use property with residential unit and commercial spaces in Schenectady.
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    Similar Nearby for Lease

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      Rotterdam Neighborhood Shopping Center Space

      Retail space available in busy Rotterdam shopping center.
      1879 Altamont Ave, Schenectady, NY 12303
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    • Contact for pricing
      4,852 SF

      Retail Space in Schenectady Plaza

      Retail spaces available in plaza with national tenant mix.
      1400 Altamont Ave, Schenectady, NY 12303
      View Details
    • Contact for pricing
      1,750 SF

      Built-Out Hair Salon Available

      Fully built-out hair salon with excellent visibility and ample parking.
      3770 Carman Rd, Schenectady, NY 12303
      View Details
    • Contact for pricing
      3,000 SF

      Mixed-Use Space For Rent

      Mixed-use property with high visibility and ample parking.
      2793 Hamburg St, Rotterdam, NY 12303
      View Details
    • Contact for pricing
      2,442 SF

      Bank Branch or Redevelopment Opportunity

      Existing bank branch or redevelopment site in Rotterdam, NY.
      3083 Carman Rd, Rotterdam, NY 12303
      View Details
    • Contact for pricing
      3,305 SF

      Turnkey Bar/Restaurant for Rent

      Turnkey bar/restaurant with full basement and DJ booth.
      869 Crane St, Schenectady, NY 12303
      View Details
    View Listing
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    Schenectady, NY 12303
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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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    3770 Carman Rd, Schenectady, NY, 12303
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