Property profile

845 Central Ave Albany, NY 12206

FOR LEASE
Office buildings
Property ID
US63-0079205
72,800 SF 3.9 ac lot Built 1966
Entity Owned 2-yr Hold Free & Clear
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845 Central Ave, Albany, NY 12206 For Lease
$1,425,000 69,255 SF available
845 Central Ave, Albany, NY 12206
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Property summary

AI-generated overview

This exceptional office property, located at 845 Central Avenue in Albany, New York, offers a unique opportunity for businesses seeking flexible and centrally located space. The three-building complex, constructed in 1966, boasts a total of 69,255 square feet, with a substantial 52,784 square feet currently vacant. The property is classified as Class B and features a variety of spaces, ranging from a minimum of 1,000 square feet to a maximum contiguous space of 34,390 square feet, making it suitable for a wide range of tenants. The building offers 14-foot ceilings, providing ample vertical space for creative layouts and efficient use of the area. Multiple tenants are currently accommodated within the complex. The convenient location on the busy Central Avenue corridor provides easy access to numerous amenities. The property also includes 100 parking spaces for tenant and visitor convenience. First-floor spaces offer flex office/warehouse capabilities, complete with loading docks. The building's electrical infrastructure includes 400 Amp 120 Volt 3-phase power. This property benefits from new ownership and proactive property management, ensuring a positive tenant experience. The two-story building is situated in Albany County, New York, with a zip code of 12206. This is an excellent opportunity to secure high-quality office space in a desirable Albany location.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1966
Total area 72,800 SF
Lot 3.9 ac (169,884 SF)
Zoning code C2
APN 010100 53.76-1-1
UPID US63-0079205

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Counselor Doctor
  • Physician
  • Counselor
  • Counselor
  • Foster Care Service Social Service Agency

Location

845 Central Ave Albany, NY 12206
Albany metro Census 302 ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.43M

Owner & transaction history

since 2024
6 recorded transactions
2024
$6.0M
2013
Price N/A
2009
Price N/A
2004
$3.1M
1969
Price N/A
1969
Price N/A

Zoning & alternative use

C2 · Albany, NY

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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