Mixed-Use Corner Building with Second
For Sale
$1,750,000
108/114 Congress Street, Saratoga Springs, NY 12866
COMMERCIAL - Other - Saratoga Springs, NY
Property Size4,228 SF
Lot Size0.30 Acres
Price / SF$413.91
Days on Market97
Property Features for 108/114 Congress Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bathroom 3
Parking
10
Parking features
Off Street
Security features
Security System
Patio and Porch features
Porch
Interior features
Ceramic Tile Bath
Accessibility
Accessible Approach with Ramp
Lot features
Road Frontage, Level, Cleared, Corner Lot, Landscaped
High school
Saratoga Springs
Elementary school district
Saratoga Springs
Middle school district
Saratoga Springs
High school district
Saratoga Springs
Directions
From Congress Park on Broadway, follow Congress St.
Standard status
Active
APN
411501 165.66-2-109
Lot size
0.30 Acres
Taxes and HOA fees
Tax Annual Amount
6705
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
2005
Floors in Building
2
Flooring type
Tile - Ceramic, Hardwood
Building materials
Fiber Cement
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KW Platform · Keller Williams Realty
(518) 281-6808
Listed By:
Scott P Varley · License #30VA0727304
(518) 693-1080
Added: May 29
Changed: Aug 4
Last Checked: Sep 2 at 4:06PM
MLS# 202618410
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.
The property at 108/114 Congress Street includes a 0.30-acre commercial parcel with a 4,228-square-foot mixed-use building. The first floor is currently home to an operating food and beverage establishment. The second floor is available for lease as office or residential space.
Zoned mixed-use, the property carries a 50-foot height allowance, supporting the option for residential, commercial, or a combination of both. The building is described as a high-visibility corner just off Broadway and within walking distance to Broadway.
A redevelopment concept is available, per the attached materials. The asset also includes an operating tenant, and the offering is presented as an already-performing building with additional income opportunity through the second-floor lease space.
Zoned mixed-use, the property carries a 50-foot height allowance, supporting the option for residential, commercial, or a combination of both. The building is described as a high-visibility corner just off Broadway and within walking distance to Broadway.
A redevelopment concept is available, per the attached materials. The asset also includes an operating tenant, and the offering is presented as an already-performing building with additional income opportunity through the second-floor lease space.
Key Highlights
- 4,228 SF mixed‑use building on a 0.30‑acre corner commercial parcel just off Broadway in Saratoga Springs
- Second floor available for lease as office or residential space
- Zoned mixed‑use with a 50‑foot height allowance for residential, commercial, or a combination
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
$65,617
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
3.75%
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%
$1,312,340
$1.3M
Cap Rate 7%
$937,386
$937.4K
Cap Rate 9%
$729,078
$729.1K
Market Conditions
NOI Build-Up for 4,228 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
$91.3K $21.60/SF
− Vacancy
−$3.8K −$0.91/SF
EGI
$87.5K $20.69/SF
− OpEx
−$21.9K −$5.17/SF
NOI
$65.6K $15.52/SF
Area
Saratoga County, NY
Vacancy
4.20%
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%
$1,312,340
Cap Rate 7%
$937,386
Cap Rate 9%
$729,078
Alternative Uses
Best Use
Specialty Retail
$937.4K
$820.2K – $1.09M
NOI $65,617 @ 7.0% cap · market cap 3.75%
Second Best
Office B
$817.0K
$714.9K – $953.2K
NOI $57,192 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,585 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,793
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Mixed-use corner building with a currently operating food and beverage use and a second floor available for office or residential lease.
Where is this conventional restaurant located?
The property is located at 108/114 Congress Street Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 4,228 SF mixed‑use building on a 0.30‑acre corner commercial parcel just off Broadway in Saratoga Springs; Second floor available for lease as office or residential space; Zoned mixed‑use with a 50‑foot height allowance for residential, commercial, or a combination
