15 Center StAlbany, NY 12207

Property Details for 15 Center St

Year built

1962

Lot size

0.42 AC

Property size (Sq ft)

374 SF

Zone code

M1

Property type

Auto shops

APN

010100 65.20-2-33

APU

101006520233

Description

This exceptional 1,500 square foot free-standing retail building, situated on a 0.49-acre corner lot in Albany, NY's warehouse district, presents a unique investment opportunity. Built in 1962, the property is currently vacant and offers immediate occupancy. The zoning, designated as MU Formed Based W/House, allows for a variety of uses. The building's single-tenant configuration provides flexibility for owner-occupancy or leasing. Its prime location near downtown Albany ensures high visibility and accessibility. The substantial lot size offers potential for expansion or redevelopment, catering to various business needs. This property is offered as a ground lease, providing an attractive entry point into the Albany commercial real estate market. The address is 15 Centre Street, Albany, NY 12207, and the property is conveniently located at latitude 42.6561452 and longitude -73.7445815. This is an excellent chance to acquire a well-positioned retail space with significant upside potential in a thriving urban area. The property's existing structure provides a solid foundation for immediate use, while the ample lot size allows for future growth and adaptation to evolving market demands. Don't miss this opportunity to secure a valuable asset in a dynamic and growing city.

• CAP approach

  CAP return

  Valuation

  6%

  $136,574

  6.5%

  $126,068

  7%

  $117,063

• Comparable approach

  Method

  Valuation

  Relative Method

  $123,972

  Geo Method

  $123,144

• Alternative Use

  Use

  Valuation

  Residential

  $106,343

  Hospitality

  $97,410

  Educational

  $81,044

  Medical

  $83,831

  Retail

  $126,068

Location Insight

City

Albany

County

Albany

State

New York

Latitude

42.6561

Longitude

-73.7446

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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