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    Property profile & analytics

    578 Aviation Rd Queensbury, NY 12804-1835

    • Community centers
    • 127,125 SF
    • 8.13 lot acres
    OFF-MARKET
    Value Estimations
    $1,115,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5576559
    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

    • Siena Fence Co., Inc. / Fence Contractor / Fence Supply Store
    • THE GYM / Gym
    • Aviation Mall / Shopping Mall
    • 99 Restaurants / Pub / New England Restaurant
    • Pizza Hut Express / Pizza Restaurant / Pizza Takeout

    Property Details for 578 Aviation Rd

    Year built
    2004
    Lot size
    8.13 lot acres
    Property size
    127,125 SF
    Zone code
    ESC
    Property type
    Community centers
    APN
    523400 302.5-1-92.12
    APU
    523400302519212

    Description

    This exceptional retail opportunity presents itself at the Aviation Mall, a prominent shopping center located at 578 Aviation Rd, Queensbury, NY 12804, in Warren County. The property boasts a substantial total building area of 199,520 square feet, offering a diverse range of spaces to suit various business needs. Currently, there are 26 available spaces, ranging from a minimum of 70 square feet to a maximum contiguous space of 95,426 square feet. With a significant 195,943 square feet of vacant space, this presents a unique chance for expansion or new tenancy within a well-established retail environment. The mall's prime location in Queensbury, New York, ensures high visibility and accessibility for customers. The flexible space options cater to a wide array of retail businesses, from small boutiques to large-scale operations. This is an ideal location for businesses seeking a strong presence in a thriving retail market. The property's size and layout provide ample opportunity for customization and tenant build-outs to meet specific requirements. This is a rare opportunity to secure a significant retail footprint in a high-traffic area. The property is available for lease, offering a compelling investment prospect for businesses seeking to establish or expand their presence in the vibrant Queensbury market. Contact us today to learn more about this exceptional retail space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $870,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,365,000
      Market price range: $1.37M - $5.43M

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

    Location Insight

    • Map
    • Local Demand
    City
    Queensbury
    County
    Warren
    State
    New York
    Longitude
    -73.6783
    Latitude
    43.3279
    CBSA code
    24020
    CBSA name
    GLENS FALLS, 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
    2021
    $20,849
    $1,333,000
    $1,934,864
    $3,267,864
    -
    $1,568,217
    $2,276,283
    $3,844,500

    Comparable in this City

    • Value Estimation
      $595,000
      25,004 SF

      721 Bank St

      MINI-MALL • 25,004 SF
      721 Bank St, Queensbury, NY 12804
      View Details
    • Value Estimation
      $1,725,000
      94,992 SF

      820 State Rte 9th 9

      MINI-MALL • 94,992 SF
      820 State Rte 9th 9, Queensbury, NY 12804-1705
      View Details
    • Value Estimation
      $2,770,000
      215,447 SF

      891 State Rte 9th 9

      MINI-MALL • 215,447 SF
      891 State Rte 9th 9, Queensbury, NY 12804-1744
      View Details
    • Value Estimation
      $1,865,000
      121,153 SF

      251 Quaker Rd

      MINI-MALL • 121,153 SF
      251 Quaker Rd, Queensbury, NY 12804-1729
      View Details
    • Value Estimation by Request
      18,200 SF

      689 Gln St

      MINI-MALL • 18,200 SF
      689 Gln St, Queensbury, NY 12804-2014
      View Details
    • Value Estimation
      $2,145,000
      156,550 SF

      24 Quaker Rdg

      MINI-MALL • 156,550 SF
      24 Quaker Rdg, Queensbury, NY 12804-1556
      View Details

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    Similar Nearby for Lease

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    • Contact for pricing
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      Retail Space in Queensbury, NY

      Retail opportunity in a dominant, high-traffic shopping destination.
      578 Aviation Rd, Queensbury, NY 12804
      View Details
    • $1.00 SF/Yr

      Regional Shopping Center For Lease

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    • $1.00 SF/Yr
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    • $16 SF/Yr
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      Freestanding Commercial Rental on Bary Road

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    578 Aviation Rd
    Queensbury, NY 12804-1835
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    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
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