Historic Office Condominium
48 Union Avenue Saratoga Springs, NY 12866
48 Union Avenue, Saratoga Springs, NY, 12866
$859,000
For Sale
$859,000
COMMERCIAL - Other - Saratoga Springs, NY
Property Size2,190 SF
Lot Size0.07 Acres
Price / SF$392.24
Days on Market140
Property Features for 48 Union Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Zoning
- Multi Residence
- Parking
- 1
- Parking features
- Off Street
- Patio and Porch features
- Porch
- Interior features
- High Speed Internet, Built-in Features
- Basement
- Full, Finished
- Standard status
- Active
- APN
- 411501 165.76-5-1
- Size
- 2,190 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5439
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Ductless, Central Air
- Water source
- Public
Building Details
- Year built
- 1907
- Flooring type
- Carpet
- Building materials
- Frame, Brick
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
Roohan Realty
(518) 587-4500
519 Broadway, Saratoga Springs, NY
Listed by
Frances J Ryan · License #10401251044
(518) 207-7088
Added: Mar 1 Checked: Jul 19 at 11:06 am
MLS# 202612606
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 commercial condominium offers a distinctive office configuration with historic character and modern amenities. The space features high ceilings, detailed moldings, large windows with leaded glass, and wood floors throughout. A grand entrance opens into a welcoming reception area, with a spacious, light conference room off of reception. The suite also includes multiple private offices, along with built-in bookshelves and ample storage. A half bath supports day-to-day business use, and the property includes one assigned parking space.
The building is located at 48 Union Avenue in Saratoga Springs, New York. The listing notes proximity to Downtown and local destinations including the Racetrack, Fasig Tipton, and the Northway. Parking is supported by both the assigned space and ample street parking.
Designed for a professional office tenant or buyer seeking a compact, character-forward setup, the layout supports client-facing work in reception and conference, with separate rooms for private discussions. Zoning is listed as Multi Residence, with zoning code UR4, providing guidance for potential use under local requirements.
The building is located at 48 Union Avenue in Saratoga Springs, New York. The listing notes proximity to Downtown and local destinations including the Racetrack, Fasig Tipton, and the Northway. Parking is supported by both the assigned space and ample street parking.
Designed for a professional office tenant or buyer seeking a compact, character-forward setup, the layout supports client-facing work in reception and conference, with separate rooms for private discussions. Zoning is listed as Multi Residence, with zoning code UR4, providing guidance for potential use under local requirements.
Key Highlights
- Commercial condominium built in 1907 with historic charm and built‑in features
- Construction includes frame and brick with shingle roof and high ceilings
- Large windows with leaded glass plus wood flooring and detailed moldings
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.3k | $21.60 |
| − Vacancy | −$7.8k | −$3.56 |
| EGI | $39.5k | $18.04 |
| − OpEx | −$9.9k | −$4.51 |
| NOI | $29.6k | $13.53 |
2,190 SF · lease $21.60/SF/yr · vacancy 16.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$423.2K
$370.3K – $493.7K
NOI $29,624 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$655.5K
$573.6K – $764.8K
NOI $45,885 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Michele L. Anderson, ...
Law Firm
Anderson Firm PLLC
Law Firm
Coffey & Coffey PC
Law Firm
Many Jeffrey M ...
Accounting Firm
First Fairfield Associates
Association Or Organization
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Turnkey professional office suite with reception, conference room, private offices, and assigned parking.
Where is this office units located?
The property is located at 48 Union Avenue Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: Commercial condominium built in 1907 with historic charm and built‑in features; Construction includes frame and brick with shingle roof and high ceilings; Large windows with leaded glass plus wood flooring and detailed moldings
