400 Patroon Creek BlvdAlbany, NY 12206

Property Details for 400 Patroon Creek Blvd

Year built

2006

Lot size

8.25 AC

Property size (Sq ft)

180,000 SF

Zone code

CO

Property type

Office properties

Property subtype

Office buildings

APN

010100 53.00-1-11

APU

101005300111

Description

This Class A medical office building, located at 400 Patroon Creek Blvd in Albany, NY 12206, offers 180,000 square feet of prime medical space. The building features six total suites, with 50,411 square feet currently available for lease. Individual suites range from a minimum of 1,003 square feet to a maximum contiguous space of 26,293 square feet, offering flexibility for various medical practices. The property is situated in Albany's Washington Avenue Medical Corridor, providing convenient access to major area hospitals and Albany International Airport (less than a 15-minute drive). The building benefits from its location within a thriving healthcare community, surrounded by a diverse range of local medical providers. Amenities include a convenient on-site café offering breakfast, lunch, and gourmet coffee, recently renovated common areas, and ample on-site parking. The property management team is proactive and professional. The landlord is willing to subdivide spaces and build to suit tenant requirements. This exceptional opportunity is ideal for medical practices seeking a well-appointed and strategically located space in Albany County, New York.

• CAP approach

  CAP return

  Valuation

  6%

  $44,714,792

  6.5%

  $41,275,192

  7%

  $38,326,964

• Comparable approach

  Method

  Valuation

  Relative Method

  $23,676,886

  Geo Method

  $23,518,800

• Alternative Use

  Use

  Valuation

  Residential

  $51,181,236

  Hospitality

  $46,881,736

  Educational

  $39,005,056

  Medical

  $40,346,500

  Retail

  $60,674,532

Location Insight

City

Albany

County

Albany

State

New York

Latitude

42.6836

Longitude

-73.8032

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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