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    Property profile & analytics

    403-407 Delaware Ave Albany, NY 12209

    • Banks
    • 2,460 SF
    • 0.33 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2321692
    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

    • Banks

    Property Details for 403-407 Delaware Ave

    Year built
    1980
    Lot size
    0.33 lot acres
    Property size
    2,460 SF
    Zone code
    C1
    Property type
    Banks
    APN
    010100 76.61-1-36
    APU
    101007661136

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.7813
    Latitude
    42.6416
    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
    $154,200
    $15,800
    $170,000
    -
    $217,704
    $22,307
    $240,011

    Comparable in this City

    • Value Estimation
      $545,000
      17,489 SF

      351 Southern Blvd

      RETAIL STORES (PERSONAL SERVICES) • 17,489 SF
      351 Southern Blvd, Albany, NY 12209-2051
      View Details
    • Value Estimation by Request
      0.13 Acres

      6 Kate St

      PARKING LOT • 0.13 Acres
      6 Kate St, Albany, NY 12209
      View Details
    • Value Estimation by Request
      0.07 Acres

      28 Vw Ave

      PARKING LOT • 0.07 Acres
      28 Vw Ave, Albany, NY 12209
      View Details
    • Value Estimation by Request
      0.09 Acres

      176 Delaware Ave

      PARKING LOT • 0.09 Acres
      176 Delaware Ave, Albany, NY 12209
      View Details
    • Value Estimation by Request
      47,396 SF

      517 Delaware Ave

      SHOPPING CENTER, STRIP CENTER • 47,396 SF
      517 Delaware Ave, Albany, NY 12209
      View Details
    • Value Estimation by Request
      3,069 SF

      170 Delaware Ave

      BAR, TAVERN • 3,069 SF
      170 Delaware Ave, Albany, NY 12209-1705
      View Details

    Similar Nearby for Sale

    • $260,000

      Retail Property For Sale

      Retail property available for purchase. Contact listing agent for details.
      485 Delaware Ave, Albany, NY 12209
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    • $379,000
      3,887 SF

      Retail Building on Delaware Avenue

      3,800+/- sqft retail building with redevelopment potential.
      390 Delaware Ave, Albany, NY 12209
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    • $279,995
      Pending

      Albany Multifamily on Delaware Avenue

      Desirable Albany multifamily property with two units on Delaware Avenue.
      260 Delaware Ave, Albany, NY 12209
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    • $175,000
      Pending

      Turnkey Two-Family Property in Albany

      Two-family property with vacant, rent-ready apartments near Delaware Avenue.
      248 Catherine St, Albany, NY 12209
      View Details
    • $85,000

      Albany Lot Near Normanskill Preserve

      0.95-acre lot near Normanskill Preserve with water views.
      689-691 Delaware Ave, Albany, NY 12209
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    • $299,188
      0.12 Acres

      Albany Mixed-Use Investment Opportunity

      Prime Albany location, 0.12-acre lot, $299,188.
      256 Delaware Ave, Albany, NY 12209
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      10 Acres Commercial Land Available

      10 acres of commercial land with high traffic and visibility.
      351 Southern Blvd, Albany, NY 12209
      View Details
    • Contact for pricing
      204,000 SF

      Albany Warehouse Space Available

      204,000 square foot warehouse space for lease in Albany.
      451 Southern Blvd, Albany, NY 12209
      View Details
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    403-407 Delaware Ave
    Albany, NY 12209
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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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