Mixed-Use Building with Office
New
For Sale
$1,750,000
108/114 Congress Street, Saratoga Springs, NY 12866
Commercial Sale, Saratoga Springs, NY
Property Size4,228 SF
Lot Size0.30 Acres
Price / SF$413.91
Days on Market1
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
Forced Air, Natural Gas, Zoned
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: Sep 8
Last Checked: Sep 8 at 3:06PM
MLS# 202625606
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 mixed-use property comprises a 4,228-square-foot building on a 0.30-acre parcel at 108/114 Congress Street. The existing layout includes a food and beverage establishment on the first floor, while the second floor is available for office or residential use. Interior features include ceramic tile bathrooms, ceramic tile and hardwood flooring, forced-air heating, natural gas service, zoned heating, and central air conditioning.
The property occupies a corner position just off Broadway in Saratoga Springs and is within walking distance of Broadway. Mixed zoning is in place, with a 50-foot height allowance supporting residential, commercial, or combined development concepts. Additional site features include off-street parking, a porch, public water, public sewer, and an accessible approach with ramp. The building was constructed in 2005 and has fiber cement construction with an asphalt roof.
The property occupies a corner position just off Broadway in Saratoga Springs and is within walking distance of Broadway. Mixed zoning is in place, with a 50-foot height allowance supporting residential, commercial, or combined development concepts. Additional site features include off-street parking, a porch, public water, public sewer, and an accessible approach with ramp. The building was constructed in 2005 and has fiber cement construction with an asphalt roof.
Key Highlights
- 4,228‑square‑foot mixed‑use building on a 0.30‑acre parcel
- Second floor available for office or residential use
- Mixed zoning with a 50‑foot height allowance
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
Mixed Use
$733.9K
$642.1K – $856.2K
NOI $51,370 @ 7.0% cap · market cap 2.94%
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
Lease Details
Single-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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner commercial property with food and beverage occupancy and second-floor office or residential availability.
Where is this mixed-use property 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‑square‑foot mixed‑use building on a 0.30‑acre parcel; Second floor available for office or residential use; Mixed zoning with a 50‑foot height allowance
