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Property profile & analytics
OFF-MARKET
Estimated value
$12,945,000
Office buildings
391 Myrtle Ave Albany, NY 12208-3835
Individually Owned
11-yr Hold
~
Est. High Equity
Property ID
US63-3515172
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2015
Total area
133,940 SF
Lot
0.65 ac (28,417 SF)
Zoning code
C1
APN
010100 76.22-2-44.1
UPID
US63-3515172
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
-
Albany Med: Obstetrics & Gynecology Medical Clinic
-
Sean P. Roddy, MD Physician Hospital
-
Dr. Erin C. Crosby, MD - Albany Med Urogynecology Physician
-
Albany Medical Center Eye Clinic Physician
-
Albany Med Comprehensive Spine & Pain Center: Sarah Narayan MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$16.60M
Blend (final)
Blend
$12.95M
Owner & transaction history
Albany Medical Center · 11 yrs held
Albany Medical Center
since 2014
1 recorded transaction
Zoning & alternative use
C1 · Albany, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$14.6M
+51.5%
Commercial (general)
$10.5M
+9.1%
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 Albany submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Albany 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,615,000
Current use
AUTO REPAIR, GARAGE
$14,570,000
Change: +52% · Conversion: Difficult
COMMERCIAL (GENERAL)
$10,495,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$12.95M
Range $11.65M – $14.24M · ±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
$97 / 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
$16,875,000
Assessed 2023
Previous assessed
$16,875,000
+0.0% YoY
Assessed land
$300,700
Assessed improvement
$16,574,300
Land market value
$424,538
Improvement market value
$23,400,113
Total market value
$23,824,651
Applied tax rate
10,100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2015
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
5
Total area
133,940 SF
Lot
0.65 ac (28,417 SF)
Zoning code
C1
APN
010100 76.22-2-44.1
UPID
US63-3515172
Jurisdiction
ALBANY
Zoning & alternative use
C1 · Albany, NY
Zoning C1 · permitted uses
C1 · Albany, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Albany. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$9.6M
AUTO REPAIR, GARAGE
Est. value
$14.6M
COMMERCIAL (GENERAL)
Est. value
$10.5M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
2015
Heating
NONE
Cooling
Yes
Stories
5
Buildings
1
Lot
0.65 ac
Current owner
From public records · entity-resolved
Albany Medical Center
Individual
Mailing address
47 NEW SCOTLAND AVE, ALBANY, NY 12208-3412
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 12, 2014
—
Albany Medical Center
—
Grant Deed
related
$28,000,000 · City Of Albany Cap Rsrc Corp
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.
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