Two-Building Retail Center with
For Sale
Contact for pricing
1 Via Rossi Way, Ballston Spa, NY 12020
New construction two-building retail center with drive-thru lanes and ample parking adjacent to Hannaford.
Property Size31,344 SF
Lot Size6.66 Acres
Price / SF$334.99
Days on Market135
Property Features for 1 Via Rossi Way
General Information
Standard status
Active
Size
31,344 SF
Total Parking Spaces
128
Lot size
6.66 Acres
Property subtype
Retail
Lease Type
NNN
Investment Type
Value Add
Additional Details
Utilities to Site
Yes
Building Details
Stories
1
Tenancy
Multi
Listing Agency:
Capri Industrial Partners
Listed By:
Joseph Barretta · License #10491212764
Source:
Crexi
Added: Apr 24
Changed: Sep 3
Last Checked: Sep 1 at 7:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Capri Industrial Partners
Investment Insights
Based on property information with market context.
This new construction multi-tenant retail center includes two one-story buildings with flexible tenant subdivision potential. Building 1 offers 18,848 SF and Building 2 offers 12,486 SF, for a total of 31,334 SF. The site includes dedicated service lanes, drive-thru lanes, and 128 parking spaces, supported by full municipal water and sewer connectivity per Town of Ballston Spa standards.
The property is located at 1B Via Rossi Way in Ballston Spa, directly adjacent to the Hannaford Supermarket. Professionally engineered and stamped plans are in place, and the development is fully approved and permitted, with site plans available upon request.
The overall configuration is designed for retail tenancy with parking, service access, and drive-thru capability across the two-building layout.
The property is located at 1B Via Rossi Way in Ballston Spa, directly adjacent to the Hannaford Supermarket. Professionally engineered and stamped plans are in place, and the development is fully approved and permitted, with site plans available upon request.
The overall configuration is designed for retail tenancy with parking, service access, and drive-thru capability across the two-building layout.
Key Highlights
- Two‑building new construction retail center at 1B Via Rossi Way in Ballston Spa, directly adjacent to Hannaford Supermarket.
- 31,334 total SF on a 6.66‑acre parcel: Building 1 is 18,848 SF and Building 2 is 12,486 SF, both one‑story.
- 128 parking spaces plus dedicated service lanes, drive‑thru lanes, and drive‑thru capability for retail traffic flow.
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
$378,347
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
3.60%
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%
$7,566,940
$7.6M
Cap Rate 7%
$5,404,957
$5.4M
Cap Rate 9%
$4,203,856
$4.2M
Market Conditions
NOI Build-Up for 31,344 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
$564.2K $18.00/SF
− Vacancy
−$23.7K −$0.76/SF
EGI
$540.5K $17.24/SF
− OpEx
−$162.1K −$5.17/SF
NOI
$378.3K $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%
$7,566,940
Cap Rate 7%
$5,404,957
Cap Rate 9%
$4,203,856
Alternative Uses
Best Use
Retail
$5.40M
$4.73M – $6.31M
NOI $378,347 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.38M
$8.21M – $10.95M
NOI $656,719 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
Balanced
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - New construction two-building retail center with drive-thru lanes and ample parking adjacent to Hannaford.
Where is this shopping center located?
The property is located at 1 Via Rossi Way Ballston Spa, NY.
What is the asking price?
The asking price for this property is $10,500,000.
What are key features of this property?
This property features: Two‑building new construction retail center at 1B Via Rossi Way in Ballston Spa, directly adjacent to Hannaford Supermarket.; 31,334 total SF on a 6.66‑acre parcel: Building 1 is 18,848 SF and Building 2 is 12,486 SF, both one‑story.; 128 parking spaces plus dedicated service lanes, drive‑thru lanes, and drive‑thru capability for retail traffic flow.
