Office Unit in Renovated
For Sale
Contact for pricing
112 Spring Street #206, Saratoga Springs, NY 12866
The office layout can accommodate one private office or two work areas.
Property Size1,350 SF
Lot Size1.31 Acres
Price / SF$0.07
Days on Market125
Property Features for 112 Spring Street #206
General Information
Standard status
Active
Size
1,350 SF
Net Rentable
1,350 SF
Total Parking Spaces
17
Elevators
Yes
Lot size
1.31 Acres
Property subtype
Office
Zoning
C-4
Occupancy
100%
Net Operating Income
$27,500
Space & Availability
Condition
Built-Out
Furnished
No
Financials
Asking Price
$429,000
Cap Rate
7%
Gross Income
$42,800
HOA Fee
$450
Opportunity Zone
No
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Sprinkler System
Yes
Office Units
6
Currently Operating
Yes
Property Use
Professional Office
Medical Specialty
dental, medical, chiropractic
Amenities
wide open hallways
grand central staircase
tall windows
private meeting rooms
lunch area with kitchenette
Building Details
Year Built
1962
Year Renovated
2019
Buildings
1
Stories
2
Building Size
1,350 SF
Tenancy
Single
Parking Ratio
3.3 per 1,000 SF
Owner Occupied
Yes
Abandoned
No
Listing Agency:
Berkshire Hathaway Home Services Blake
(518) 584-0060
Listed By:
Christopher Armer · License #40AR1141826
(518) 527-6786
Source:
Simplywoodardrealestate
Added: Jul 1
Changed: Nov 1
Last Checked: Nov 1 at 3:27PM
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 Berkshire Hathaway Home Services Blake
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
An office unit is available within a renovated school building constructed in 1962. The space can function as one large private office or be arranged for two offices or workstations. Building amenities include private meeting rooms, a lunch area with a kitchenette, broad hallways, a central staircase, and tall windows.
A private parking lot serves the property, and utilities are included. The building is at 112 Spring Street in Saratoga Springs, minutes from downtown and its restaurants and shops, with access to major transportation routes.
A private parking lot serves the property, and utilities are included. The building is at 112 Spring Street in Saratoga Springs, minutes from downtown and its restaurants and shops, with access to major transportation routes.
Key Highlights
- Flexible office layout for one private office or two work areas
- Renovated school building dating to 1962
- Private meeting rooms and a lunch area with kitchenette
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$184,508
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,690,160
$3.7M
Cap Rate 7%
$2,635,829
$2.6M
Cap Rate 9%
$2,050,089
$2.1M
Market Conditions
NOI Build-Up for 13,640 SF
Gross rent
$294.6K $21.60/SF
− Vacancy
−$48.6K −$3.56/SF
EGI
$246.0K $18.04/SF
− OpEx
−$61.5K −$4.51/SF
NOI
$184.5K $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 Rate 5%
$3,690,160
Cap Rate 7%
$2,635,829
Cap Rate 9%
$2,050,089
Alternative Uses
Best Use
Office B
$2.64M
$2.31M – $3.08M
NOI $184,508 @ 7.0% cap · market cap 18,450.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.08M
$3.57M – $4.76M
NOI $285,785 @ 7.0% cap · market cap 28,578.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
6
Office units
100%
Occupancy
Single-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,289
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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - The office layout can accommodate one private office or two work areas.
Where is this office unit located?
The property is located at 112 Spring Street #206 Saratoga Springs, NY.
What are key features of this property?
This property features: Flexible office layout for one private office or two work areas; Renovated school building dating to 1962; Private meeting rooms and a lunch area with kitchenette
