Remodeled Spa and Salon
For Sale
$634,999
426 Geyser Road, Ballston Spa, NY 12020
Commercial Sale, Ballston Spa, NY
Property Size2,400 SF
Lot Size0.46 Acres
Price / SF$264.58
Days on Market341
Property Features for 426 Geyser Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Commercial
Parking
20
Interior features
High Speed Internet
Exterior features
Lighting
Lot features
Road Frontage, Level
Directions
Geyser Rd next to Milton Tavern.
Standard status
Active
APN
414289 190.7-1-56
Size
2,400 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Annual Amount
6461
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
2 massage chairs
4 tanning booths
3 massage rooms
3 cutting stations with hydraulic chairs
sauna
coin-operated automatic dog wash station
laundry facilities
kitchen
Building Details
Year built
1972
Floors in Building
1
Flooring type
Laminate, Tile - Ceramic
Building materials
Block, Brick
Roof type
Rubber
Architectural style
Other
Listing Agency:
Cleardoor Inc
(888) 452-5327
Listed By:
Eric Eckardt · License #10311208883
(518) 368-8087
Added: Oct 13, 2025
Changed: Sep 16
Last Checked: Sep 18 at 3:06PM
MLS# 202527671
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,400-square-foot spa and wellness property occupies a 0.46-acre site and has undergone a full remodel. The interior includes 3 massage rooms, 3 cutting stations with hydraulic chairs, 4 tanning booths, 2 massage chairs, a sauna, laundry facilities, and a kitchen. A coin-operated automatic dog wash adds a distinct pet-care component, while ceramic tile and laminate flooring, central air, forced-air natural gas heat, and high-speed internet support daily operations. Furnishings may remain with the property.
The building provides 20 paved parking spaces, with additional parking behind the property. A side area may accommodate a drive-through and could expand total parking to approximately 50 spaces. The property is less than 1 mile from Saratoga County Airport and uses public water with a septic tank system. Built in 1972, the structure features block and brick construction, rubber roofing, and exterior lighting.
The building provides 20 paved parking spaces, with additional parking behind the property. A side area may accommodate a drive-through and could expand total parking to approximately 50 spaces. The property is less than 1 mile from Saratoga County Airport and uses public water with a septic tank system. Built in 1972, the structure features block and brick construction, rubber roofing, and exterior lighting.
Key Highlights
- Fully remodeled 2,400‑square‑foot spa and wellness property
- 20 paved parking spaces, with additional parking behind the building
- 3 massage rooms, 3 cutting stations, 4 tanning booths, and 2 massage chairs
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,970
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$579,400
$579.4K
Cap Rate 7%
$413,857
$413.9K
Cap Rate 9%
$321,889
$321.9K
Market Conditions
NOI Build-Up for 2,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$43.2K $18.00/SF
− Vacancy
−$1.8K −$0.76/SF
EGI
$41.4K $17.24/SF
− OpEx
−$12.4K −$5.17/SF
NOI
$29.0K $12.07/SF
Area
Saratoga County, NY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$579,400
Cap Rate 7%
$413,857
Cap Rate 9%
$321,889
Alternative Uses
Best Use
Retail
$413.9K
$362.1K – $482.8K
NOI $28,970 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$718.4K
$628.6K – $838.1K
NOI $50,285 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12020, NY
34,667
Population
15,787
Households
2.2
Avg Household Size
42
Median Age
43%
College-Educated
94%
High-School Grad
75.6 sq mi
ZIP Area
459
Density / Sq Mi
$101,727
Median Household Income
$59,730
Median Earnings
$1,562
Median Rent
$299,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Spa & wellness property - Configured for salon, wellness, and pet-care services with furnishings and specialized equipment in place.
Where is this spa & wellness property located?
The property is located at 426 Geyser Road Ballston Spa, NY.
What is the asking price?
The asking price for this property is $634,999.
What are key features of this property?
This property features: Fully remodeled 2,400‑square‑foot spa and wellness property; 20 paved parking spaces, with additional parking behind the building; 3 massage rooms, 3 cutting stations, 4 tanning booths, and 2 massage chairs
