Property profile

500 Patroon Crk Blvd Albany, NY 12206

OFF-MARKET
Office buildings
Property ID
US63-6195810
160,512 SF 10.8 ac lot Built 2000
Entity Owned 10-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional Class A, 180,000-square-foot executive office building is strategically located on Albany's Washington Avenue Medical Corridor, offering unparalleled visibility and accessibility. Situated near Exit 4 of I-90 and Washington Avenue, it benefits from over 116,000 cars passing daily, with prominent signage rights available. The property boasts a wealth of amenities including a large on-site cafeteria with a commercial kitchen, a fully equipped fitness center complete with locker rooms and showers, and approximately 1,100 parking spaces (a 6:1000 sq ft ratio). Further enhancing its appeal is a +/- 4,500 square foot data center. The building features a boardroom, multiple conference rooms, private offices, and open workspaces. Priced significantly below replacement cost, this property presents a compelling investment opportunity. Its flexible design allows for easy subdivision and adaptation to multi-tenant occupancy, making it suitable for a variety of uses and potential tenants. The location provides convenient access to Albany International Airport, within 15 minutes. The building is ready for immediate occupancy and offers a build-to-suit option. Asking price is $12,600,000.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 2000
Total area 160,512 SF
Lot 10.8 ac (470,448 SF)
Zoning code CO
APN 010100 53.00-1-12
UPID US63-6195810

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Medical Clinic
  • Electric Vehicle Charging Station
  • Electric Vehicle Charging Station

Location

500 Patroon Crk Blvd Albany, NY 12206-5006
Albany metro Census 302 ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$5.03M
Blend (final) Blend
$4.53M

Owner & transaction history

since 2016
Last sale
$6.3M
6 recorded transactions
2025
Price N/A
2016
Price N/A
2008
Price N/A
2007
Price N/A
2007
$4.1M
2007
Price N/A

Zoning & alternative use

CO · Albany, NY

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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