Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    523 Western Ave Albany, NY 12203-1617

    • Investment properties
    • 8,166 SF
    • 0.45 lot acres
    OFF-MARKET
    Value Estimations
    $785,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2928304
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Gialanella Family Dentistry / Dental Office
    • Gialanella Family Dentistry- Gialanella Theodore DDS / Dental Office
    • Metroland Magazine / Publishing House / Newspaper & Magazine
    • Ostrander Kim / Dental Office
    • Lynn G. Lieberman, LCSW / Foster Care Service / Social Service Agency

    Property Details for 523 Western Ave

    Year built
    1987
    Lot size
    0.45 lot acres
    Property size
    8,166 SF
    Zone code
    C1
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    010100 64.51-2-3
    APU
    10100645123

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $713,000
      Market price range: $332k - $894k
      AI Estimate
      $708,000
      Market price range: $432k - $902k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $640,000
      Current use
      AUTO REPAIR, GARAGE
      $890,000
      Change: +39% Conversion: Difficult
      OFFICE BUILDING
      $585,000
      Change: -8% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.7914
    Latitude
    42.6668
    CBSA code
    10580
    CBSA name
    ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $208,500
    $591,500
    $800,000
    -
    $294,367
    $835,098
    $1,129,465

    Comparable in this City

    • Value Estimation by Request
      1,472 SF

      249 Quail St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,472 SF
      249 Quail St, Albany, NY 12203-1218
      View Details
    • Value Estimation by Request
      1,580 SF

      245 Quail St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,580 SF
      245 Quail St, Albany, NY 12203-1218
      View Details
    • Value Estimation by Request
      4,692 SF

      1670-1672 Western Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,692 SF
      1670-1672 Western Ave, Albany, NY 12203
      View Details
    • Value Estimation by Request
      1,364 SF

      1762 Western Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,364 SF
      1762 Western Ave, Albany, NY 12203-4602
      View Details
    • Value Estimation by Request
      2,812 SF

      1441 Western Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,812 SF
      1441 Western Ave, Albany, NY 12203-3425
      View Details
    • Value Estimation by Request
      3,910 SF

      945 Western Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,910 SF
      945 Western Ave, Albany, NY 12203-2541
      View Details

    Similar Nearby for Sale

    • $275,000
      2,800 SF

      Mixed-Use Property with Retail Space

      Mixed-use property featuring retail space and two apartments.
      219 Western Ave, Albany, NY 12203
      View Details
    • $380,000
      2,042 SF

      Renovated Albany Duplex with Garage

      Renovated Albany duplex with separate utilities, garage, and large lot.
      212 Ontario St, Albany, NY 12203
      View Details
    • $264,800
      Pending

      Albany Multifamily Property For Sale

      Clean three-family property near shopping, hospitals, and colleges.
      84 Winthrop Ave, Albany, NY 12203
      View Details
    • $424,900
      Pending

      Remodeled Duplex in Albany, NY

      Completely remodeled side-by-side duplex, ideal for investors or owner-occupants.
      17-19 Henry St, Albany, NY 12203
      View Details
    • Contact for pricing
      181,300 SF

      Distribution Center with Long-Term Lease

      Well-maintained distribution center with over 13 years remaining on lease.
      38 Corporate Cir, Albany, NY 12203
      View Details
    • $399,900
      2,252 SF

      Charming Duplex with Updates

      Spacious Albany duplex with updates, porches, and parking.
      81 N Main Ave, Albany, NY 12203
      View Details

    Similar Nearby for Lease

    • $4,000 /Mo

      Modern Retail-Zoned Commercial Building

      Two-story retail-zoned property built in 2019 with high visibility.
      1871 Western Ave, Albany, NY 12203
      View Details
    • $2,500 /Mo
      1,092 SF

      Medical Office Space For Lease

      Lower level medical office suite with exam rooms and storage.
      81 Schoolhouse Rd, Albany, NY 12203
      View Details
    • $16 SF/Yr
      1,822 SF

      Professional Office Space For Lease

      Office suite in Corporate Plaza Office Park available for lease.
      7 Executive Centre Dr, Albany, NY 12203
      View Details
    • Contact for pricing

      Office Suite in Corporate Plaza

      Office suite for lease in professional office building.
      260 Washington Avenue Ext, Albany, NY 12203
      View Details
    • Contact for pricing

      Office Space in Corporate Circle

      Office space for rent in a convenient location.
      52 Corporate Cir, Albany, NY 12203
      View Details
    • Contact for pricing

      High-Visibility Retail Space Available

      Retail space with freezer/cooler, high exposure location near university.
      1512 Western Ave, Albany, NY 12203
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    523 Western Ave
    Albany, NY 12203-1617
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!