500 Patroon Crk Blvd, Albany, NY 12206-5006
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.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
CO · Albany, NYAlbany. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.