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    596 Columbia Tpke East Greenbush, NY 12061-1617
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    Property profile & analytics

    596 Columbia Tpke East Greenbush, NY 12061-1617

    View on Map
    • Strip malls
    • 7,400 SF
    • 0.23 lot acres
    Off-Market
    Property ID
    US63-3437306
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • MoneyGram / Bank / Credit Union
    • Hannaford Plaza Wine and Liquor / (Bike/Boat/Book/etc) Store / Wine and Liquor Store
    • Fantastic Sams Cut & Color / Hair Salon
    • Rent-A-Center / Furniture & Home Goods / Home Decor Store
    • Exotico Smoke Shop / (Bike/Boat/Book/etc) Store

    Property Details for 596 Columbia Tpke

    Year built
    1980
    Lot size
    0.23 lot acres
    Property size
    7,400 SF
    Zone code
    B-2
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    382400 166.-7-6.9
    APU
    382400166769

    Description

    This exceptional Class A retail property, Hannaford Plaza, offers three available spaces totaling 11,535 square feet in Rensselaer County. Currently fully vacant, this presents a unique opportunity for multiple tenants or a single large tenant seeking up to 5,000 contiguous square feet. The minimum divisible space is 1,650 square feet, offering flexibility for various business needs. Located within a thriving shopping center, the property benefits from incredible visibility and exposure, with over 26,000 cars passing daily. The plaza boasts a strong tenant mix, including prominent national brands such as Hannaford, CVS, Starbucks, AutoZone, Rent-A-Center, and H&R Block, ensuring high foot traffic and a robust customer base. This prime location offers the potential for long-term leases at advantageous rates. The property's multiple suite configuration allows for diverse occupancy options, making it ideal for a variety of retail businesses. Don't miss this chance to secure a space in a high-traffic, established shopping center with a proven track record of success. Contact us today to learn more about leasing opportunities and explore the potential of this exceptional retail space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    East Greenbush
    County
    Rensselaer
    State
    New York
    Longitude
    -73.7103
    Latitude
    42.5982
    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
    $96,600
    $345,100
    $441,700
    -
    $120,179
    $429,336
    $549,515

    Comparable in this City

    • Value Estimation
      $2,460,000
      22,500 SF

      574 Columbia Tpke

      SHOPPING CENTER, STRIP CENTER • 22,500 SF
      574 Columbia Tpke, East Greenbush, NY 12061-1620
      View Details
    • Value Estimation
      $970,000
      62,712 SF

      598 Columbia Tpke

      REGIONAL SHOPPING CENTER, MALL • 62,712 SF
      598 Columbia Tpke, East Greenbush, NY 12061-1622
      View Details
    • Value Estimation by Request
      4,616 SF

      126 Troy Rd

      RESTAURANT • 4,616 SF
      126 Troy Rd, East Greenbush, NY 12061-1025
      View Details
    • Value Estimation by Request
      23,498 SF

      634 Columbia Tpke

      VEHICLE SALES, RENTALS • 23,498 SF
      634 Columbia Tpke, East Greenbush, NY 12061-2122
      View Details
    • Value Estimation
      $810,000
      14,000 SF

      771 Columbia Tpke

      VEHICLE SALES, RENTALS • 14,000 SF
      771 Columbia Tpke, East Greenbush, NY 12061-2612
      View Details
    • Value Estimation by Request
      3,824 SF

      751 Columbia Tpke

      RESTAURANT • 3,824 SF
      751 Columbia Tpke, East Greenbush, NY 12061-2612
      View Details

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    Similar Nearby for Lease

    • $25 SF/Yr
      2,000 SF

      Retail Space on Columbia Turnpike

      Retail space available for lease on Columbia Turnpike.
      574 Columbia Tpke, Rensselaer, NY 12061
      View Details
    • $5 SF/Yr
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      East Greenbush Industrial Building

      56,632 SF industrial building for lease in East Greenbush.
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    • $12 SF/Yr
      12,976 SF

      East Greenbush Office Suite

      2,700 SF office suite in East Greenbush's commercial corridor.
      743 Columbia Tpke, East Greenbush, NY 12061
      View Details
    • $12 SF/Yr
      12,976 SF

      East Greenbush Office Suite

      2,700 SF office suite in East Greenbush's commercial corridor.
      743 Columbia Tpke, East Greenbush, NY 12061
      View Details
    • $5 SF/Yr

      Industrial Building in East Greenbush

      56,632 SF industrial building available for lease.
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    • $16 SF/Yr
      10,083 SF

      East Greenbush Office Sublease Opportunity

      Sublease of 10,083 SF office space in East Greenbush.
      33 Tech Valley Dr, East Greenbush, NY 12061
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    East Greenbush, NY 12061-1617
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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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