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Albany, New York

Metropolitan Area Economic Overview
Calculations for all indices were provided by SRC, LLC

Market Research provided by NAI Pyramid Brokerage Company
Last Updated: 7-Jan-2007
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Market Research

* Click on each category for a detailed definition.
 
Population   Employment
Total Est. 2006 855,037   Total Est. 2006 410,089
Population Growth Index - 2011 N/A   Office Index 0.72
Income Index 0.64   Health Services Index 0.63
Affordability Index 1.41   Government Index 1.61
Education Index 0.79   Retail Services Index 0.73
Age Index 1.00   Wholesale Index 0.90
(Rent/square foot/year) Low High Effective Avg. Vacancy Investment Yield
Downtown Office
New Construction (AAA) N/A N/A N/A N/A N/A
Class A (Prime) $ 18.00 $ 23.00 $ 21.50 11.0% N/A
Class B (Secondary) $ 14.00 $ 16.00 $ 15.50 13.0% N/A
 
Suburban Office
New Construction (AAA) $ 16.50 $ 18.25 $ 17.25 4.0% N/A
Class A (Prime) $ 16.75 $ 16.50 $ 18.10 8.0% N/A
Class B (Secondary) $ 14.00 $ 15.00 $ 14.50 12.0% N/A
 
Industrial
Bulk Warehouse $ 2.00 $ 2.25 $ 2.15 14.0% N/A
Manufacturing $ 4.50 $ 7.25 $ 5.25 10.0% N/A
High Tech / R&D $ 10.00 $ 12.00 $ 11.00 8.0% N/A
 
Retail
Downtown $ 7.00 $ 20.00 $ 13.50 9.0% N/A
Neigborhood Service Centers $ 12.00 $ 16.00 $ 14.50 8.0% N/A
Community Power Center $ 12.00 $ 18.00 $ 15.00 8.0% N/A
Regional Malls $ 25.00 $ 35.00 $ 30.00 6.0% N/A

Development Land Low (Price/Acre) High (Price/Acre)
Office in CBD $ 75,000 $ 90,000
Land in Office Parks $ 90,000 $ 125,000
Land in Industrial Parks $ 30,000 $ 80,000
Office/Industrial Land - Non-park $ 50,000 $ 125,000
Retail/Commercial Land $ 125,000 $ 875,000
Residential $ 10,000 $ 32,000

 

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