Former Rite Aid
1863 Central Avenue
Colonie, NY 12205
Highlights
- 11,180± SF free-standing building built for Rite Aid, which operated here for 25+ years
- Prime corner site at Central Avenue and Route 155, a top Capital Region intersection
- COR zoning allows broad retail, medical, and service uses
- High visibility and access with over 60,000 vehicles per day and ample parking
- Great re-tenanting, build-to-suit, or ground lease opportunity in the heart of Colonie
Description
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.
