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

    L3 Union Avenue Saratoga Springs, NY 12866

    View on Map
    Claim this Listing
    New
    For Sale
    $1,000,000

    LAND - Saratoga Springs, NY

    Lot size:
    19.17 Acres
    Added:
    Apr 16, 2026
    Days on Market:
    4
    Last Refresh:
    Apr 19 at 1:06 am

    Property Features for L3 Union Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    411589 179.-3-3
    Lot size
    19.17 Acres

    Taxes and HOA fees

    Tax Annual Amount
    7221

    We can help!

    Listing Contact
    Scott P Varley
    Scott P Varley

    Listing agent Scott P Varley License #30VA0727304

    Listing office KW Platform 382 Broadway, Latham, NY

    Listing date Apr 16, 2026

    MLS# 202615207 Listing URL

    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.

    Overview

    Saratoga Springs Land Opportunity

    This property represents a desirable piece of Saratoga real estate, ideally located near equine facilities, golf courses, and the Saratoga Racecourse, presenting prime potential for residential use. Zoning may allow for up to six estate-quality lots, offering flexibility for development or the opportunity to create a private estate. All wetlands have been delineated, and jurisdiction has been established by the NYSDEC. Access is provided via an easement across a neighboring property. Any development would require appropriate municipal approvals, or the parcel may be enjoyed as a single estate setting. The land is 19.17 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Saratoga Springs
    County
    Saratoga
    State
    New York
    Longitude
    -73.750566
    Latitude
    43.065876

    Nearby Similar for Sale

    • $859,000
      2,190 SF

      Saratoga Springs Commercial Condominium

      Commercial condominium with historic charm and modern amenities in Saratoga.
      48 Union Avenue unit: 1, Saratoga Springs, NY 12866
      View Details
    • $800,000
      2,783 SF

      Saratoga Springs Corner Lot Opportunity

      Corner lot with development potential near Broadway.
      126 West Avenue, Saratoga Springs, NY 12866
      View Details
    • $595,000
      1,550 SF

      Medical Office Building For Sale

      1550 SF medical office building in Saratoga Springs, NY.
      8 Medical Arts Lane, Saratoga Springs, NY 12866
      View Details
    • $399,000
      1,444 SF

      Turnkey Restaurant Property Saratoga Springs

      Turnkey restaurant or redevelopment opportunity near downtown Saratoga Springs.
      588 Lake Avenue, Saratoga Springs, NY 12866
      View Details
    • $595,000
      1,550 SF

      Saratoga Springs Commercial Building

      Commercial building suitable for medical, dental, or office use.
      8 Medical Arts Lane, Saratoga Springs, NY 12866
      View Details
    • $850,000
      2,102 SF

      Prime Commercial Property on Route

      High-profile commercial property near hospital and Saratoga Golf Club.
      290 Church Street, Saratoga Springs, NY 12866
      View Details
    • $3,595,000
      8,299 SF

      Prime Corner Lot Saratoga Springs

      1.23 acre corner lot in Saratoga Springs, NY.
      40 Excelsior Avenue, Saratoga Springs, NY 12866
      View Details
    • $850,000

      Saratoga Springs Commercial Land Opportunity

      Commercial land in thriving Saratoga Springs, ready for your vision.
      48 Lincoln Avenue, Saratoga Springs, NY 12866
      View Details
    • $900,000

      Prime Saratoga Springs Mixed-Use Land

      Opportunity to build a 15,000 sqft mixed-use building.
      237 Washington Street, Saratoga Springs, NY 12866
      View Details
    • $850,000

      Contemporary Office Suite in Saratoga

      Bright office suite with modern amenities in a prime location.
      18 Division Street unit: 311, Saratoga Springs, NY 12866
      View Details
    • $475,000

      Commercial Land Saratoga Springs, NY

      2.62 acre commercial land parcel with high visibility.
      4310 Route 50, Saratoga Springs, NY 12866
      View Details
    • $984,900
      2,501 SF

      Spacious Saratoga Property Near Broadway

      Versatile property near Broadway, ideal for living or income.
      138-140 Church Street, Saratoga Springs, NY 12866
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Desirable Saratoga land near equine facilities with residential potential.
    Where is this residential land & home lot located?
    The property is located at L3 Union Avenue Saratoga Springs, NY.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: Prime location near equine facilities, golf courses, and the Saratoga Racecourse.; Potential for development of up to six estate‑quality lots.; Opportunity to create an exceptional private estate.
    (518) 281-6808
    We can help!
    Listing Contact
    Scott P Varley
    Scott P Varley
    Real Estate License ID: 30VA0727304
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!