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Property profile & analytics
FOR LEASE
Office buildings
624 Mcclellan St Schenectady, NY 12304
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US63-1415724
For Lease
1 / 2
$20 SF/Yr
624 Mcclellan St, Schenectady, NY 12304
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1986
Total area
28,872 SF
Lot
0.44 ac (18,979 SF)
Zoning code
03 - MULTI-FAMILY
APN
421500 49.36-3-70.2
UPID
US63-1415724
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
-
Garbrecht Frederick C MD Pediatrician
-
Dr. Melissa M. Foye-Petrillo, DO Pediatrician Medical Clinic
-
Dr. Thomas N. Flaim, MD Pediatrician Medical Clinic
-
Dr. Michael G. Katlan, MD Physician Medical Clinic
-
Karen Olsen Kennedy Pediatrician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.06M
Blend (final)
Blend
$3.70M
Owner & transaction history
Kagr2 Schenectady LLC · 4 yrs held
Kagr2 Schenectady LLC
since 2022
6 recorded transactions
Zoning & alternative use
03 - MULTI-FAMILY · Schenectady, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.3M
+50.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Schenectady submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Schenectady submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,860,000
Current use
RESTAURANT
$4,315,000
Change: +51% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,800,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$3.70M
Range $3.33M – $4.07M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$128 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$4,219,200
Assessed 2023
Previous assessed
$4,219,200
+0.0% YoY
Assessed land
$150,000
Assessed improvement
$4,069,200
Land market value
$189,873
Improvement market value
$5,150,886
Total market value
$5,340,759
Applied tax rate
421,500.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Lease
Year built
1986
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
28,872 SF
Lot
0.44 ac (18,979 SF)
Zoning code
03 - MULTI-FAMILY
APN
421500 49.36-3-70.2
UPID
US63-1415724
Jurisdiction
SCHENECTADY
Zoning & alternative use
03 - MULTI-FAMILY · Schenectady, NY
Zoning 03 - MULTI-FAMILY · permitted uses
03 - MULTI-FAMILY · Schenectady, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Schenectady. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.9M
RESTAURANT
Est. value
$4.3M
AUTO REPAIR, GARAGE
Est. value
$2.8M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1986
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
0.44 ac
Current owner
From public records · entity-resolved
Kagr2 Schenectady LLC
Entity
Free & Clear · 4 yrs held
Mailing address
800 W MADISON ST STE #400, CHICAGO, IL 60607-2481
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 17, 2022
—
Kagr2 Schenectady LLC
Ellis Hospital
Lease
—
Feb 18, 2022
—
Kagr2 Binghamton LLC
—
Deed
related
$816,700,000 · Capital One Bank NA
Feb 7, 2022
—
Kagr2 Schenectady LLC
Schenectady Medical Properties LLC
Bargain And Sale Deed
—
Feb 7, 2022
$8,750,000
Kagr2 Schenectady LLC
Schenectady Medical Properties LLC
Assignment Of Lease (leasehold Sale)
—
Feb 19, 2019
—
Schenectady Medical Prop LLC
—
Loan Modification
related
$73,369,260 · Capital One Fin'l
Jul 19, 2017
—
Arhc Ccscnny01 LLC
—
Grant Deed
related
$7,284,628 · Capital One NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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