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    FOR LEASE
    Office buildings

    500 Federal St, Troy, NY 12180

    63,212 SF 1.02 ac lot Built 1987
    Entity Owned 2-yr Hold ~ Est. High Equity
    Property ID
    US63-0093602
    Property summary
    AI-generated overview

    This exceptional office space in Troy, NY, offers a prime location just across the Green Island Bridge in the heart of the city. The available space totals 9,640 square feet, with the potential for larger configurations up to approximately 30,000 square feet within the larger 56,033 square foot building. This multi-tenant building is currently undergoing significant upgrades under new ownership, promising a modern and improved workspace. The property is zoned DMU, making it suitable for a variety of medical and traditional office uses. The flexible layout allows for customization to meet diverse business needs, accommodating various configurations to suit specific requirements. This is an excellent opportunity to secure high-quality office space in a thriving downtown location, benefiting from easy access and high visibility. The minimum divisible space is 9,640 square feet, providing ample room for expansion or consolidation. This presents a unique chance to establish a presence in a revitalized area with significant potential for growth. Interested parties should inquire about lease terms and available configurations.

    Property profile
    Verified
    Property type Office buildings
    Use group OFFICE BUILDING
    Year built 1987
    Total area 63,212 SF
    Lot 1.02 ac (44,431 SF)
    Zoning code B4
    APN 381700 101.45-2-1.1
    UPID US63-0093602
    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
    • Smiles Bring Hope Foundation Dental Office
    • Troy Dental Office Dental Office
    • Shambhuprasad M. Mehta, DDS Dental Office
    • Dr. Shammi V. Tandel, DDS Dental Office
    • Dr. Donald S. Cox, DDS Dental Office
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $3.20M
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $2.14M
    Blend (final) Blend
    $3.20M
    Owner & transaction history
    Mjmj 500 Federal St LLC · 2 yrs held
    Mjmj 500 Federal St LLC
    since 2024
    Last sale
    $3.2M
    6 recorded transactions
    2024
    $3.2M
    2020
    2019
    2007
    $3.3M
    1969
    1969
    Zoning & alternative use
    B4 · Troy, NY
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Auto repair, garage $5.3M +54.5%
    Commercial (general) $3.6M +4.5%
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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