Former Rite Aid
1863 Central Avenue
Colonie, NY 12205
Highlights
Description
Offered for sale is an 11,180± SF free-standing retail building, originally constructed in 1998 specifically for Rite Aid, which operated at this location for over 25 years. The property has been well maintained and benefits from COR zoning, allowing a wide range of commercial and retail uses. It sits at the high-traffic, signalized intersection of Central Avenue and Route 155, one of the most active and established retail corridors in the Capital Region.
The site offers excellent visibility, ample parking, and multiple points of access, creating a strong environment for an owner-user, investor, or redevelopment project. Its efficient floor plan and modern infrastructure make it ideal for single-tenant retail, medical, or service-oriented use.
Prime for re-tenanting, redevelopment, or a ground lease, the property’s strategic corner positioning provides outstanding exposure to over 60,000 vehicles per day. With strong surrounding demographics and proximity to major national retailers, this property represents a rare opportunity to acquire a proven retail asset in the heart of Colonie, one of Upstate New York’s most dynamic suburban markets.
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.
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.
