Turnkey Retail Condo with
For Sale
$750,000
Pending
103-18 Division St, Saratoga Springs, NY 12866
Turnkey downtown storefront condo with dual entrances, private rooms, and built-in plumbing for salon or office use.
Property Size2,375 SF
Days on Market478
Property Features for 103-18 Division St
General Information
Standard status
Pending
Size
2,375 SF
Total Parking Spaces
1
Taxes and HOA fees
Annual Taxes
$6,143
Listing Agency:
Four Seasons Sothebys International Realty
(518) 580-8500
Listed By:
Andrea L Collins · License #10301222905
(413) 374-7808
Source:
Exprealty
Added: May 29, 2025
Changed: Sep 17
Last Checked: Sep 18 at 8:26AM
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 Four Seasons Sothebys International Realty
Investment Insights
Based on property information with market context.
This turnkey commercial condo is located in The Lofts at 18 Division and is offered for sale as a ready-to-operate storefront. The unit totals 2,375 SF and previously functioned as a hair salon. Plumbing and electrical are already in place for salon-style use. The layout includes front and rear entrances, three private rooms that can be used as offices, and in-floor plumbing. There are two bathrooms plus additional space for kitchen and storage.
The property is set within the downtown business district of Saratoga Springs and is configured to support walk-in customer access with convenient, separate entry points. The sale also includes one indoor parking spot on the lower level of the garage associated with the building.
The combination of a storefront setup, dual entrances, and private room configuration can fit an owner-occupant looking for a professional retail or services presence, or an investor seeking a space that can be leased to compatible tenants. With the existing plumbing and electrical infrastructure, the condo may offer a practical starting point for businesses that rely on salon or similar back-of-house needs.
The property is set within the downtown business district of Saratoga Springs and is configured to support walk-in customer access with convenient, separate entry points. The sale also includes one indoor parking spot on the lower level of the garage associated with the building.
The combination of a storefront setup, dual entrances, and private room configuration can fit an owner-occupant looking for a professional retail or services presence, or an investor seeking a space that can be leased to compatible tenants. With the existing plumbing and electrical infrastructure, the condo may offer a practical starting point for businesses that rely on salon or similar back-of-house needs.
Key Highlights
- Turnkey commercial condo in downtown Saratoga Springs’ business district in The Lofts at 18 Division
- 2,375 SF unit with both front and rear entrances for convenient walk‑in access
- Previously occupied as a hair salon; plumbing and electrical already in place for similar use
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
$32,127
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
4.28%
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%
$642,540
$642.5K
Cap Rate 7%
$458,957
$459.0K
Cap Rate 9%
$356,967
$357.0K
Market Conditions
NOI Build-Up for 2,375 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
$51.3K $21.60/SF
− Vacancy
−$8.5K −$3.56/SF
EGI
$42.8K $18.04/SF
− OpEx
−$10.7K −$4.51/SF
NOI
$32.1K $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%
$642,540
Cap Rate 7%
$458,957
Cap Rate 9%
$356,967
Alternative Uses
Best Use
Office B
$459.0K
$401.6K – $535.5K
NOI $32,127 @ 7.0% cap · market cap 4.28%
Second Best
Retail
$409.5K
$358.4K – $477.8K
NOI $28,668 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$710.9K
$622.0K – $829.4K
NOI $49,761 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,661
Businesses Nearby
Under-served
Demand for This Use
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
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Storefront property - Turnkey downtown storefront condo with dual entrances, private rooms, and built-in plumbing for salon or office use.
Where is this storefront property located?
The property is located at 103-18 Division St Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Turnkey commercial condo in downtown Saratoga Springs’ business district in The Lofts at 18 Division; 2,375 SF unit with both front and rear entrances for convenient walk‑in access; Previously occupied as a hair salon; plumbing and electrical already in place for similar use
