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Property profile & analytics
OFF-MARKET
Estimated value
$4,160,000
Office buildings
628 Madison Ave Albany, NY 12208-3604
Individually Owned
Free & Clear
Property ID
US63-1311138
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1947
Total area
41,932 SF
Lot
1.91 ac (83,200 SF)
Zoning code
R2A
APN
010100 65.78-1-12
UPID
US63-1311138
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
-
Albany Medical Center-South Advertising Agency Marketing & Advertising
-
Michael J Rosenblum Physician
-
AlAlbany Med Health System Annex Training Center Tutoring Service
-
Erin C Deverdis Physician Medical Clinic
-
Megan Rose Gerber Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.20M
Blend (final)
Blend
$4.16M
Owner & transaction history
ALBANY MED HEALTH SYSTEM
ALBANY MED HEALTH SYSTEM
Zoning & alternative use
R2A · Albany, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.6M
+51.5%
Commercial (general)
$3.3M
+9.1%
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 Albany submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Albany 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
$3,010,000
Current use
AUTO REPAIR, GARAGE
$4,560,000
Change: +52% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,285,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$4.16M
Range $3.74M – $4.58M · ±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
$99 / 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
$6,974,300
Assessed 2023
Previous assessed
$6,672,500
+4.5% YoY
Assessed land
$463,400
Assessed improvement
$6,510,900
Land market value
$654,243
Improvement market value
$9,192,291
Total market value
$9,846,534
Applied tax rate
10,100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Off-Market
Year built
1947
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
3
Total area
41,932 SF
Lot
1.91 ac (83,200 SF)
Zoning code
R2A
APN
010100 65.78-1-12
UPID
US63-1311138
Jurisdiction
ALBANY
Zoning & alternative use
R2A · Albany, NY
Zoning R2A · permitted uses
R2A · Albany, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Albany. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$4.6M
COMMERCIAL (GENERAL)
Est. value
$3.3M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1947
Heating
NONE
Cooling
Yes
Stories
3
Buildings
1
Lot
1.91 ac
Current owner
From public records · entity-resolved
ALBANY MED HEALTH SYSTEM
Individual
Free & Clear · 0 yrs held
Mailing address
43 NEW SCOTLAND AVE, ALBANY, NY 12208-3412
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
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