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    833 Broadway Albany, NY 12207-2415

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    Property profile & analytics

    833 Broadway Albany, NY 12207-2415

    View on Map
    • Office buildings
    • 108,688 SF
    • 4.78 lot acres
    Off-Market
    Last Sale Oct 21, 2021
    Property ID
    US63-0201051
    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
    $1,585,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Albany Savings Bank FSB / Bank / Loan Service
    • Frank Polsinello - Citizens Bank, Home Mortgages / Loan Service / Bank
    • Maximus INC / Telecommunications Service / Tech Support Center
    • Citizens Bank ATM / Atm
    • David Fay - Citizens, Home Mortgage / Loan Service / Bank

    Property Details for 833 Broadway

    Year built
    1940
    Lot size
    4.78 lot acres
    Property size
    108,688 SF
    Zone code
    CO
    Property type
    Office buildings
    APN
    010100 65.20-3-2
    APU
    10100652032

    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
    Albany
    County
    Albany
    State
    New York
    Longitude
    -73.7458
    Latitude
    42.6587
    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
    $1,699,100
    $1,471,300
    $3,170,400
    -
    $2,398,842
    $2,077,227
    $4,476,069

    Comparable in this City

    • Value Estimation
      $9,245,000
      901,573 SF

      64 Eagle St

      OFFICE BUILDING • 901,573 SF
      64 Eagle St, Albany, NY 12207
      View Details
    • Value Estimation
      $680,000
      55,801 SF

      23 Eagle St

      OFFICE BUILDING • 55,801 SF
      23 Eagle St, Albany, NY 12207
      View Details
    • Value Estimation
      $1,155,000
      48,690 SF

      148 State St

      OFFICE BUILDING • 48,690 SF
      148 State St, Albany, NY 12207
      View Details
    • Value Estimation
      $610,000
      63,500 SF

      40 State St

      OFFICE BUILDING • 63,500 SF
      40 State St, Albany, NY 12207
      View Details
    • Value Estimation
      $4,540,000
      212,528 SF

      90 State St

      OFFICE BUILDING • 212,528 SF
      90 State St, Albany, NY 12207-1715
      View Details
    • Value Estimation
      $935,000
      225,860 SF

      30 Pearl St

      OFFICE BUILDING • 225,860 SF
      30 Pearl St, Albany, NY 12207-3427
      View Details

    Similar Nearby for Sale

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      Albany Office/Warehouse Building For Sale

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      Downtown Albany Mixed-Use Gem

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    • $750,000
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      Downtown Albany Mixed-Use Investment

      Prime commercial storefront with residential units in downtown Albany.
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    • New
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      Mixed-Use Property Across Tricentennial Park

      Versatile mixed-use property in downtown Albany with high visibility.
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    Similar Nearby for Lease

    • $16 SF/Yr
      3,750 SF

      Downtown Office Building For Rent

      Downtown office building with views, near Capitol and court houses.
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      View Details
    • Contact for pricing

      Prime Office Building with Amenities

      12-story office building with on-site amenities and convenient access.
      41 State St, Albany, NY 12207
      View Details
    • $24 SF/Yr
      16,966 SF

      Downtown Albany Mixed-Use Building

      Renovated mixed-use building with office, retail, and restaurant space.
      22 Clinton Ave, Albany, NY 12207
      View Details
    • $25 SF/Yr
      188,262 SF

      Class A Office Space Available

      Premier downtown Albany office building with modern amenities and parking.
      80 State St, Albany, NY 12207
      View Details
    • $15 SF/Yr
      8,898 SF

      Historic Office Space Near Capitol

      Attractive office space in historic building, convenient location.
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    • Contact for pricing
      1,610 SF

      Downtown Albany Office Space Available

      Renovated office suite in downtown Albany with parking available.
      136 State St, Albany, NY 12207
      View Details
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    833 Broadway
    Albany, NY 12207-2415
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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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    833 Broadway, Albany, NY, 12207

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