Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    2192 Saranac Avenue Lake Placid, NY 12946

    View on Map
    Claim this Listing
    For Sale
    $850,000

    COMMERCIAL - Lake Placid, NY

    Property size:
    3,445 SF
    Lot size:
    0.30 Acres
    Price / SF:
    $246/SF
    Added:
    Jan 10, 2025
    Days on Market:
    480
    Last Refresh:
    May 5 at 6:06 am

    Property Features for 2192 Saranac Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Parking
    15
    Parking features
    Parking Lot, Off Street
    Interior features
    High Ceilings, High Speed Internet, Vaulted Ceiling(s)
    Exterior features
    Lighting
    Appliances
    Water Heater
    Standard status
    Active
    APN
    42.141-4-1.000
    Size
    3,445 SF
    Lot size
    0.30 Acres

    Taxes and HOA fees

    Tax Annual Amount
    7619

    Utilities

    Utilities
    Propane
    Sewer type
    Public Sewer
    Heating system
    Radiant Floor, Radiant, Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2003
    Floors in Building
    1
    Flooring type
    Vinyl
    Building materials
    Block, Metal Siding, Wood Siding
    Roof type
    Rolled Hot Mop

    We can help!

    Listing Contact
    Mark Adler

    Listing agent Mark Adler

    Listing office Adirondack Premier Properties Berkshire Hathaway HomeService 2429 Main Street, Lake Placid, NY

    Listing date Jan 10, 2025

    MLS# 203740

    Copyright © 2026 Adirondack Champlain Valley MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Commercial Building in Lake Placid

    Located in the heart of Lake Placid on Saranac Avenue, this commercial building offers 3,345 square feet of commercial space. The building features large, street-facing windows suitable for signage and displays. The property is currently leased long term, with the tenant having a first right of refusal upon a purchase offer. It has a versatile floor plan designed to accommodate many business types. Off-street parking spaces are included, providing convenience for clients and employees. The property is situated minutes from local amenities, including shops, restaurants, and Lake Placid's tourist attractions. The lot size is 0.3 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    CrossFit Lake Placid Gym & Fitness Center

    Suggested Use

    Law Firm Real Estate Agency Dental Office Spa & Massage Center Hair Salon Restaurant Nail Salon Building Supply Accounting Firm Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Placid
    County
    Essex
    State
    New York
    Longitude
    -73.994394
    Latitude
    44.293632

    Nearby Similar for Sale

    • $899,888
      6,000 SF

      Historic Adirondack Multi-Unit Estate

      Spacious property with rental opportunity, equestrian facilities, and workshop.
      143 Averyville Ln, Lake Placid, NY 12946
      View Details
    • $3,200,000
      10,750 SF

      Historic Inn & Restaurant For Sale

      Turnkey hospitality property in Lake Placid with restaurant.
      39 Interlaken Avenue, Lake Placid, NY 12946
      View Details
    • $899,888

      Historic Adirondack Craftsmanship Home

      Over 7,000 sq ft of historic Adirondack craftsmanship.
      143 Averyville Lane, , NY 12946
      View Details
    • $2,450,000
      7,743 SF

      Lake Placid Commercial Opportunity

      Unique commercial property with development potential in Lake Placid, NY.
      2345 Saranac Avenue, Lake Placid, NY 12946
      View Details
    • $815,000
      2,454 SF

      Renovated Lake Placid Vacation Rental

      Four units near downtown Lake Placid with strong rental history.
      2807 Wilmington Road, Lake Placid, NY 12946
      View Details
    • $1,700,000
      8,344 SF

      Lake Placid Hospitality Investment

      17-room motel with a 3-bedroom home in Lake Placid.
      5825 Cascade Rd, Lake Placid, NY 12946
      View Details
    • $1,950,000
      12,625 SF

      Lake Placid Recreational Legacy Property

      200-acre property with lodge near Lake Placid's Olympic Village.
      4833 Cascade Road, Lake Placid, NY 12946
      View Details
    • $600,000
      5,100 SF

      Lake Placid Mixed-Use Property

      Mixed-use property with warehouse, retail space, and residential unit.
      6006 Sentinel Road, Lake Placid, NY 12946
      View Details
    • $595,000
      2,296 SF

      Lake Placid Two-Family Home

      Charming two-family home in Lake Placid, a perfect investment opportunity.
      6144 Sentinel Road, Lake Placid, NY 12946
      View Details
    • $995,000
      7,000 SF

      Lake Placid Commercial Opportunity

      Prime commercial location ideal for business or restaurant in Lake Placid.
      6163 Sentinel Road, Lake Placid, NY 12946
      View Details

    FAQs

    What type of property is this?
    Storefront property - Prime commercial building in the heart of Lake Placid.
    Where is this storefront property located?
    The property is located at 2192 Saranac Avenue Lake Placid, NY.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: Prime commercial building in the heart of Lake Placid on Saranac Avenue.; 3,345 sq. ft. of commercial space with **large, street‑facing windows for excellent exposure.**; Currently leased long term, providing immediate income (contact agent for lease details).
    (518) 524-4672
    We can help!
    Listing Contact
    Mark Adler
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2192 Saranac Avenue, Lake Placid, NY 12946
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!