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    FOR SALE
    Warehouses

    5 Elmwood Rd, Menands, NY 12204

    40,600 SF 3.2 ac lot Built 1958
    Entity Owned 1-yr Hold Free & Clear
    Property ID
    US63-5527384
    Property summary
    AI-generated overview

    This exceptional 40,600-square-foot industrial property at 5 Elmwood Road, Albany, NY 12204, presents a unique investment opportunity. Previously a bowling alley, this single-story building has undergone a complete renovation in 2023, transforming it into a modern and efficient warehouse and distribution center. The property boasts a 14-foot ceiling height, providing ample vertical space for storage and operations. The building sits on a site with expansion potential, and the current owner offers build-to-suit options to meet specific tenant requirements. The property features a new roof, new parking lot, and new electrical systems. Zoned for warehousing and distribution, this location offers unparalleled access to major highways, providing seamless connectivity throughout the Capital Region. The asking price is $2,250,000, with a price per square foot of $55.42. The lease type is NNN. This property is ideal for businesses seeking a modern, efficient, and strategically located industrial space in Albany, New York. A use variance has been granted to permit warehousing and distribution center operations.

    Property profile
    Verified
    Property type Warehouses
    Use group WAREHOUSE, STORAGE
    Year built 1958
    Total area 40,600 SF
    Lot 3.2 ac (139,392 SF)
    Zoning code 86
    APN 012603 55.6-1-3
    UPID US63-5527384
    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
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $2.10M
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $2.10M
    Owner & transaction history
    Almontaser Property LLC · 1 yrs held
    Almontaser Property LLC
    since 2024
    Last sale
    $2.1M
    4 recorded transactions
    2024
    2024
    $2.1M
    2022
    $800,000
    2018
    Zoning & alternative use
    86 · Menands, NY
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Commercial (general) $3.2M +53.7%
    Office building $2.9M +40.8%
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