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    Property profile & analytics
    OFF-MARKET Estimated value $4,525,000
    Office buildings

    500 Patroon Crk Blvd, Albany, NY 12206-5006

    160,512 SF 10.8 ac lot Built 2000
    Entity Owned 10-yr Hold Free & Clear
    Property ID
    US63-6195810
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Alcoholics & Narcotics Medical Clinic
    • SemaConnect Charging Station Electric Vehicle Charging Station
    • Blink Charging Station Electric Vehicle Charging Station
    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
    Hta-1223 Washington LLC · 10 yrs held
    Hta-1223 Washington LLC
    since 2016
    Last sale
    $6.3M
    6 recorded transactions
    2025
    2016
    2008
    2007
    2007
    $4.1M
    2007
    Zoning & alternative use
    CO · Albany, NY
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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