1167 Central AveAlbany, NY 12205

Property Details for 1167 Central Ave

Year built

1926

Lot size

0.26 AC

Property size (Sq ft)

1,595 SF

Zone code

13

Property type

Investment properties

Property subtype

Retail residential properties

APN

012689 53.11-2-1.1

APU

126895311211

Description

This exceptional mixed-use property, located at 1167 Central Avenue in Colonie, New York, presents a unique investment opportunity. Situated on a sizable 0.26-acre lot, the property offers significant potential for a variety of commercial ventures. The existing structure provides a solid foundation for redevelopment or adaptive reuse, catering to a range of business needs. Its strategic location on Central Avenue ensures high visibility and accessibility, benefiting from substantial foot and vehicular traffic. The property's versatility allows for creative development plans, potentially incorporating retail spaces, office suites, or a combination thereof, to maximize return on investment. Colonie's thriving economy and robust infrastructure further enhance the property's appeal, making it an attractive prospect for both seasoned investors and newcomers to the commercial real estate market. The asking price of $315,998 reflects the property's significant potential and presents a compelling opportunity to acquire a well-positioned asset in a desirable location. Detailed property information and potential development plans are available upon request. This is a rare chance to secure a prime piece of Colonie real estate with substantial upside potential. Don't miss this opportunity to capitalize on the growth and dynamism of this vibrant community.

• CAP approach

  CAP return

  Valuation

  6%

  $491,316

  6.5%

  $453,523

  7%

  $421,128

• Comparable approach

  Method

  Valuation

  Relative Method

  $325,195

  Geo Method

  $323,024

• Alternative Use

  Use

  Valuation

  Residential

  $453,523

  Hospitality

  $415,424

  Educational

  $345,628

  Medical

  $357,515

  Retail

  $537,644

Location Insight

City

Albany

County

Albany

State

New York

Latitude

42.6931

Longitude

-73.8041

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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