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1611 Western Ave 78 SF Retail Building Albany, NY 12203 $277,778 ($3,561.26/SF) 9% Cap Rate
Investment Highlights
- Triple Net Lease with No Landlord Responsibilities
- Corporate Guarantee by Bank of America
- Newly Signed 5-Year Lease
Executive Summary
Surmount is pleased to present the exclusive listing for a Bank of America located at 1611 Western Avenue, Albany, New York 12203. The site consists of roughly 80 rentable square feet of building space on an estimated 0.28-acre parcel of land. This Bank of America is subject to a 5-year Triple Net (NNN) lease, which commenced 10/1/2025. The current annual rent is $25,000 and has scheduled increases of 10.00% In Options.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
78 SF
Building Class
C
Year Built
2025
Price
$277,778
Price Per SF
$3,561.26
Cap Rate
9%
NOI
$25,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.01
Lot Size
0.28 AC
Zoning
LB - Limited Business
Frontage
72’ on Western Ave
Amenities
- Pylon Sign
- Signage
Fairly walkable
50/100
Exceptionally drivable
100/100
Good public transit
70/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 013089-052-014-0003-018-000-0000 | Improvements Assessment | $58,000 |
| Land Assessment | $150,000 | Total Assessment | $208,000 |
Property Taxes
Parcel Number
013089-052-014-0003-018-000-0000
Land Assessment
$150,000
Improvements Assessment
$58,000
Total Assessment
$208,000
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1611 Western Ave
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