Prime Saratoga Springs Mixed-Use
For Sale
Contact for pricing
108/114 Congress Street, Saratoga Springs, NY 12866
Mixed-use building with development potential in downtown Saratoga Springs.
Property Size4,228 SF
Lot Size0.37 Acres
Price / SF$413.91
Days on Market400
Property Features for 108/114 Congress Street
General Information
Standard status
Active
Size
4,228 SF
Total Parking Spaces
10
Lot size
0.37 Acres
Property subtype
Mixed Use
Zoning
mixed
Building Details
Year Built
2005
Buildings
1
Units
10
Listing Agency:
KW Platform
(518) 281-6808
Listed By:
Scott Varley · License #NY 30VA0727304
Source:
Crexi
Added: Jul 13, 2025
Changed: Aug 14
Last Checked: Aug 14 at 7:25AM
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 KW Platform
Investment Insights
Based on property information with market context.
This investment opportunity is located on the west side of downtown Saratoga Springs, moments from Broadway. The offering includes two contiguous parcels totaling 0.37 acres, featuring a 4,228 sq ft mixed-use building and a private parking lot with 18 spaces. The existing two-story building houses a long-standing tavern and restaurant, included in the purchase price. The second story offers a leasing opportunity for professional office space or residential apartments. The property's mixed-use zoning and 50-foot height allowance allow for the construction of an additional building of up to approximately 70,000 square feet. This expansive capacity presents a unique opportunity for new residential units, commercial space, or a combination thereof.
Key Highlights
- Prime downtown Saratoga Springs location on a highly visible corner, moments from Broadway.
- Significant development potential with mixed‑use zoning and a 50‑foot height allowance (up to 85' with height bonuses), allowing for construction of a building up to approximately 70,000 square feet.
- Includes a successful and long‑standing (20 years) food & beverage establishment (tavern and restaurant) as part of the purchase.
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
Location Intelligence
Trade Area within ½ mile
2,828
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 - Mixed-use building with development potential in downtown Saratoga Springs.
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: Prime downtown Saratoga Springs location on a highly visible corner, moments from Broadway.; Significant development potential with mixed‑use zoning and a 50‑foot height allowance (up to 85' with height bonuses), allowing for construction of a building up to approximately 70,000 square feet.; Includes a successful and long‑standing (20 years) food & beverage establishment (tavern and restaurant) as part of the purchase.
