Property profile

900 Central Ave Albany, NY 12206

FOR LEASE
Strip malls
Property ID
US63-2783878
136,744 SF 6.12 ac lot Built 1960
Entity Owned 3-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

Hannaford Plaza presents a unique opportunity for businesses seeking high-visibility retail space in Albany, NY. Located on Central Avenue, Albany's primary retail corridor, this premier shopping center offers excellent accessibility and high foot traffic. The property boasts a total of 101,616 square feet of retail space, currently featuring multiple tenancies. For prospective tenants, there are four available spaces ranging in size from a minimum of 1,605 square feet to a maximum contiguous space of 3,932 square feet. A total of 9,788 square feet is currently vacant, offering flexibility for businesses of various sizes. The property's strategic location within the bustling commercial district of Albany County ensures significant exposure to a large customer base. This is an ideal location for businesses seeking a strong presence in a thriving retail environment. The flexible space options allow for customization to suit individual business needs, making it an attractive proposition for a variety of retail concepts. The opportunity to establish a presence in this established and successful shopping center is not to be missed. Contact us today to learn more about the available spaces and lease terms. Serious inquiries only.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1960
Total area 136,744 SF
Lot 6.12 ac (266,500 SF)
Zoning code C2
APN 010100 53.83-1-5
UPID US63-2783878

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
  • Bank Credit Union
  • Specialty Food Shop Wine and Liquor Store
  • Atm
  • Pharmacy
  • Pharmacy

Location

900 Central Ave Albany, NY 12206
Albany metro Census 403 ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$6.95M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$6.42M

Owner & transaction history

since 2022
Last sale
$10.4M
2 recorded transactions
2022
Price N/A
2014
$9.2M

Zoning & alternative use

C2 · Albany, NY
Top alternative use upside
Auto repair, garage $11.4M +539.5%
Restaurant $10.3M +479.6%
Commercial (general) $9.0M +409.2%

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?”
More about this property
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