4 Dana AveAlbany, NY 12208

For Sale
$299,000

Prime Albany location, three lots, high-growth area.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a rare chance to acquire three contiguous lots totaling 4 New Scotland Ave, and 103 Dana Ave in Albany, NY. The property includes a two-family apartment building, offering immediate income potential. Its strategic location on a busy Albany corridor places it adjacent to the billion-dollar Albany Medical Center expansion and Tri City's new 268 luxury apartments, as well as 30 new luxury apartments on Dana Avenue. The site benefits from exceptional visibility and proximity to a wealth of established businesses, including Chipotle, Panera Bread, Bank of America, Baldini's Restaurant, H&R Block, Stewarts, Starbucks, Walgreens, CVS, SEFCU Bank, Keybank, a Hilton Hotel, and the Recovery Room Restaurant. This presents a unique chance to develop a substantial retail and/or apartment complex, potentially wrapping the entire corner of New Scotland Ave and Dana Ave. The asking price is $299,000, and there's potential for acquiring additional adjoining properties. This could be the last available developable parcel in this high-demand area. The property's location within a rapidly growing neighborhood, coupled with its significant size and potential for expansion, makes it an exceptional investment opportunity with significant long-term growth prospects.

Highlights

  • Three contiguous lots available for purchase, representing the last developable block on New Scotland Ave near Albany Medical Center, ideal for retail and multifamily development.
  • Significant new multifamily development nearby, including 265 units across the street and additional projects totaling 90 units on Dana and Morris Avenues.
  • Strong existing retail presence anchored by national and regional brands including Chipotle, Panera Bread, Bank of America, and others.
  • Adjacent properties are owner-occupied and potentially available for acquisition.

Location Insight

City
Albany
County
Albany
State
New York
Latitude
42.6544616
Longitude
-73.7723427
4 Dana Ave, Albany, New York

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4 Dana Ave
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