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Property profile & analytics
OFF-MARKET
Estimated value
$815,000
Office buildings
877 Madison Ave Albany, NY 12208-3321
Entity Owned
2-yr Hold
Free & Clear
Property ID
US63-2675957
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1970
Total area
7,650 SF
Lot
0.17 ac (7,600 SF)
Zoning code
C1
APN
010100 64.68-1-40
UPID
US63-2675957
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
-
Vaad Hakashruth-Capital District Church Mosque
-
Elisa B. Meredith, LCSW Physician
-
Haven of Schenectady Counselor
-
Tatyana Schwartz Foster Care Service Social Service Agency
-
Marjorie Gang Foster Care Service Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$840k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$654k
Blend (final)
Blend
$815k
Owner & transaction history
Hope House INC · 2 yrs held
Hope House INC
since 2023
Last sale
$925,000
1 recorded transaction
Zoning & alternative use
C1 · Albany, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$830,000
+51.5%
Commercial (general)
$600,000
+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
$745,000
ML approach
$840,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$550,000
Current use
AUTO REPAIR, GARAGE
$830,000
Change: +52% · Conversion: Difficult
COMMERCIAL (GENERAL)
$600,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$815k
Range $734k – $897k · ±10% · vs last sale $925k (Nov 1 2023)
Last sale anchor
$925k
Nov 1 2023
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
$107 / 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
$632,300
Assessed 2023
Previous assessed
$632,300
+0.0% YoY
Assessed land
$80,600
Assessed improvement
$551,700
Land market value
$113,794
Improvement market value
$778,907
Total market value
$892,701
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
OFFICE BUILDING
Status
Off-Market
Year built
1970
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
2
Total area
7,650 SF
Lot
0.17 ac (7,600 SF)
Zoning code
C1
APN
010100 64.68-1-40
UPID
US63-2675957
Jurisdiction
ALBANY
Zoning & alternative use
C1 · Albany, NY
Zoning C1 · permitted uses
C1 · 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
$550,000
AUTO REPAIR, GARAGE
Est. value
$830,000
COMMERCIAL (GENERAL)
Est. value
$600,000
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
1970
Heating
NONE
Cooling
Yes
Stories
2
Buildings
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Hope House INC
Entity
Free & Clear · 2 yrs held
Mailing address
573 LIVINGSTON AVE, ALBANY, NY 12206-2408
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2023
$925,000
Hope House INC
The College Of Saint Rose
Bargain And Sale Deed
—
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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