500 Northern BlvdAlbany, NY 12204

Property Details for 500 Northern Blvd

Year built

2018

Lot size

1.40 AC

Property size (Sq ft)

4,913 SF

Zone code

C2

Property type

Strip malls

Property subtype

Neighborhood centers

APN

010100 65.7-4-1.12

APU

101006574112

Description

This exceptional 6,226 square foot retail property, built in 2016, is situated on a 1.4-acre lot in Albany, NY's Warehouse District, specifically in the Samaritan Hospital - Memorial Campus submarket. The property, zoned C2, features a single building with multiple suites and currently has 4,020 square feet of vacant space available. Units are divisible, with a minimum of 2,005 square feet and a maximum contiguous space of 4,020 square feet. This prime retail opportunity benefits from its strategic location adjacent to a thriving Dunkin' Donuts drive-thru and a newly constructed 184-unit apartment building, ensuring high visibility and foot traffic. Its proximity to I-90 and Samaritan Hospital provides excellent accessibility and a strong residential base. The property offers a dynamic and high-traffic environment ideal for businesses seeking to thrive in a bustling area. This is a rare chance to establish a presence in a vibrant and strategically positioned retail hub within Albany's Warehouse District. Don't miss this opportunity to secure your space in this thriving commercial center.

• CAP approach

  CAP return

  Valuation

  6%

  $1,794,084

  6.5%

  $1,656,078

  7%

  $1,537,786

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,628,544

  Geo Method

  $1,617,670

• Alternative Use

  Use

  Valuation

  Residential

  $1,396,963

  Hospitality

  $1,279,611

  Educational

  $1,064,621

  Medical

  $1,101,235

  Retail

  $1,656,078

Location Insight

City

Albany

County

Albany

State

New York

Latitude

42.6729

Longitude

-73.7501

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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