Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,240,000
Investment properties
409 State St Schenectady, NY 12305-2316
Entity Owned
19-yr Hold
Absentee Owner
Free & Clear
Property ID
US63-5001812
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1950
Total area
21,732 SF
Lot
0.3 ac (13,279 SF)
Zoning code
05 - COMMERCIAL
APN
421500 39.72-2-37
UPID
US63-5001812
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
-
Justice Center Corporate Office
-
Schenectady Public Defender Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.02M
Blend (final)
Blend
$2.24M
Owner & transaction history
Albany Ventures INC · 19 yrs held
Albany Ventures INC
since 2007
7 recorded transactions
Zoning & alternative use
05 - COMMERCIAL · Schenectady, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.3M
+114.2%
Office building
$2.2M
+42.0%
Auto repair, garage
$2.1M
+39.0%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,515,000
Current use
RESTAURANT
$3,250,000
Change: +114% · Conversion: Difficult
OFFICE BUILDING
$2,155,000
Change: +42% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,110,000
Change: +39% · Conversion: Difficult
Blend value · Realmo final
$2.24M
Range $2.02M – $2.46M · ±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
$103 / 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
$1,486,500
Assessed 2023
Previous assessed
$1,486,500
+0.0% YoY
Assessed land
$34,900
Assessed improvement
$1,451,600
Land market value
$44,177
Improvement market value
$1,837,469
Total market value
$1,881,646
Applied tax rate
421,500.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1950
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
3
Total area
21,732 SF
Lot
0.3 ac (13,279 SF)
Zoning code
05 - COMMERCIAL
APN
421500 39.72-2-37
UPID
US63-5001812
Jurisdiction
SCHENECTADY
Zoning & alternative use
05 - COMMERCIAL · Schenectady, NY
Zoning 05 - COMMERCIAL · permitted uses
05 - COMMERCIAL · 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
COMMERCIAL (GENERAL) Current
Est. value
$1.5M
RESTAURANT
Est. value
$3.3M
OFFICE BUILDING
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.1M
COMMERCIAL (GENERAL) Current
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1950
Heating
NONE
Cooling
Yes
Stories
3
Buildings
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
Albany Ventures INC
Entity
Free & Clear · 19 yrs held
Mailing address
220 HARBORSIDE DR STE #300, SCHENECTADY, NY 12305-1065
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 31, 2017
—
Albany Venturese INC
—
Deed
related
—
Dec 4, 2007
—
Albany Ventures INC
—
Trustees Deed
related
$685,000 · Capital Bank & Trust Co
Feb 22, 2007
$175,000
Albany Ventures INC
Northeastern Ip Holdings INC
Warranty Deed
—
May 9, 2006
$175,000
Northeastern Ip Holdings INC
Scotiaholdings INC
Warranty Deed
related
—
Dec 7, 2005
$175,000
Scotiaholdings INC
The Maplewood Group INC
Warranty Deed
related
—
—
—
Albany Ventures INC
—
Deed Of Trust
related
—
—
—
Albany Ventures INC
—
Deed Of Trust
related
$850,000 · Capital Bank & Trust Co
—
—
Albany Ventures INC
—
Deed Of Trust
related
$1,852,000 · Capital Bank & Trust Co
—
—
Albany Venturese INC
—
Loan Modification
related
—
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?”
You own 409 State St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
