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1863 Central Ave 11,180 SF of Retail Space Available in Albany, NY 12205
Highlights
- 11,180± SF free-standing building built for Rite Aid, which operated here for 25+ years
- COR zoning allows broad retail, medical, and service uses
- Great re-tenanting, build-to-suit, or ground lease opportunity in the heart of Colonie
- Prime corner site at Central Avenue and Route 155, a top Capital Region intersection
- High visibility and access with over 60,000 vehicles per day and ample parking
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 11,180 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request | TBD |
1st Floor
Available for lease is an 11,180± SF free-standing retail building, originally constructed in 1998 for Rite Aid, which successfully operated at this location for over 25 years. The property has been well-maintained and offers COR zoning, allowing a wide range of retail and commercial uses. Positioned at the signalized intersection of Central Avenue and Route 155, the site sits along one of the Capital Region’s busiest and most established retail corridors. The building features excellent visibility, generous parking, and multiple points of access, making it ideal for national or regional tenants seeking a high-traffic, easily accessible location. Its open, efficient layout and modern infrastructure allow for a variety of uses, including retail, medical, fitness, or service-oriented operations. Prime for re-tenanting, build-to-suit, or ground lease, the property’s strategic corner location provides unmatched exposure to more than 60,000 vehicles per day. With strong surrounding demographics, established co-tenancy, and proximity to major national retailers, this site represents a rare opportunity to secure a flagship retail location in the heart of Colonie, one of Upstate New York’s most dynamic suburban markets.
- Fully Built-Out as Standard Retail Space
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
Property Facts
| Total Space Available | 11,180 SF | Gross Leasable Area | 11,180 SF |
| Property Type | Retail | Year Built | 1998 |
| Property Subtype | Freestanding |
| Total Space Available | 11,180 SF |
| Property Type | Retail |
| Property Subtype | Freestanding |
| Gross Leasable Area | 11,180 SF |
| Year Built | 1998 |
About the Property
Positioned at the signalized intersection of Central Avenue (44,023 VPD) and Route 155 / New Karner Road (16,582 VPD), this high-visibility property sits along one of the Capital Region’s most active commercial corridors. Central Avenue serves as the primary retail and commuter artery connecting Albany, Colonie, and Schenectady, supported by a dense mix of residential neighborhoods, major employers, and a strong daytime population. The site benefits from exceptional exposure, convenient access, and a highly visible corner location with prominent façade and pylon signage opportunities. Surrounded by national and regional retailers, restaurants, and service businesses, this property offers a proven retail environment and outstanding potential for both single-tenant and multi-tenant redevelopment.
- Drive Thru
Nearby Major Retailers
