Office Building with
For Sale
$3,300,000
92 Congress Street, Saratoga Springs, NY 12866
Commercial Sale, Saratoga Springs, NY
Property Size10,000 SF
Lot Size0.44 Acres
Price / SF$326.38
Days on Market67
Property Features for 92 Congress Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bathroom 5, Bathroom 3, Bathroom 1, Bathroom 4
Parking
16
Parking features
Off Street
Lot features
Level, Landscaped
Directions
Broadway Downtown Saratoga Springs to Congress St.
Standard status
Active
APN
411501 165.66-2-90
Size
10,111 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Annual Amount
16648
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
2002
Floors in Building
2
Building materials
Brick, Wood Siding
Roof type
Metal
Architectural style
Other
Listing Agency:
Julie & Co Realty LLC
(518) 350-7653
Listed By:
Amy Farchione-Sgromo · License #40SG0924936
(315) 863-2777
Added: Jul 1
Changed: Sep 4
Last Checked: Sep 5 at 2:06AM
MLS# 202620820
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 office building at 92 Congress Street includes approximately 10,000 square feet across two levels and sits on 0.44 acres. The property has a private parking lot with 16 spaces, brick and wood siding, a metal roof, forced-air heating, central air, public water, and public sewer. Built in 2002, the building combines office functionality with established occupancy.
The first floor is leased to Fat Paulie's Deli and Make a Wish, both identified as long-term tenants. The owner occupies the 5,000/SF second floor and is open to a leaseback arrangement, providing flexibility for a buyer considering continued occupancy, tenant leasing, or a different operating structure. The property is located in Downtown Saratoga Springs, with commercial zoning identified in the property information.
The first floor is leased to Fat Paulie's Deli and Make a Wish, both identified as long-term tenants. The owner occupies the 5,000/SF second floor and is open to a leaseback arrangement, providing flexibility for a buyer considering continued occupancy, tenant leasing, or a different operating structure. The property is located in Downtown Saratoga Springs, with commercial zoning identified in the property information.
Key Highlights
- 0.44‑acre office property at 92 Congress Street, Saratoga Springs, NY 12866
- Private parking lot with 16 parking spaces
- 5,000/SF second floor currently occupied by the owner
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
$136,771
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
4.14%
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%
$2,735,420
$2.7M
Cap Rate 7%
$1,953,871
$2.0M
Cap Rate 9%
$1,519,678
$1.5M
Market Conditions
NOI Build-Up for 10,111 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
$218.4K $21.60/SF
− Vacancy
−$36.0K −$3.56/SF
EGI
$182.4K $18.04/SF
− OpEx
−$45.6K −$4.51/SF
NOI
$136.8K $13.53/SF
Area
Saratoga County, NY
Vacancy
16.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$2,735,420
Cap Rate 7%
$1,953,871
Cap Rate 9%
$1,519,678
Alternative Uses
Best Use
Office B
$1.95M
$1.71M – $2.28M
NOI $136,771 @ 7.0% cap · market cap 4.14%
Second Best
Mixed Use
$1.75M
$1.54M – $2.05M
NOI $122,849 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$3.03M
$2.65M – $3.53M
NOI $211,846 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,793
Businesses Nearby
Explore this area
Business Placement
Demographics for 12866, NY
40,355
Population
20,462
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
95%
High-School Grad
64.3 sq mi
ZIP Area
628
Density / Sq Mi
$98,374
Median Household Income
$53,265
Median Earnings
$1,460
Median Rent
$419,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Brick office property with private off-street parking, central air, and multiple established occupants.
Where is this office building located?
The property is located at 92 Congress Street Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 0.44‑acre office property at 92 Congress Street, Saratoga Springs, NY 12866; Private parking lot with 16 parking spaces; 5,000/SF second floor currently occupied by the owner
