Mixed-Use Income
For Sale
$859,000
119 Church Street, Saratoga Springs, NY 12866
MULTI_FAMILY - Saratoga Springs, NY
Property Size2,842 SF
Lot Size0.16 Acres
Price / SF$302.25
Days on Market141
Property Features for 119 Church Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 3, Bathroom 1
Parking
6
Parking features
Driveway, Off Street, Tandem
Patio and Porch features
Porch
Interior features
High Speed Internet
Exterior features
Garden
Fencing
Fenced
Lot features
Level, Cleared, Garden
High school
Saratoga Springs
Elementary school district
Saratoga Springs
Middle school district
Saratoga Springs
High school district
Saratoga Springs
Directions
Broadway in Saratoga Springs to Church Street to 119 Church on the right.
Standard status
Active
APN
411501 165.50-2-15
Size
2,842 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
9265
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Natural Gas, Baseboard, Hot Water(Heating)
Water source
Public
Amenities
sheds
fence
garden
Building Details
Year built
1860
Number of units
3
Flooring type
Tile - Ceramic, Carpet, Laminate
Building materials
Vinyl Siding
Roof type
Rubber, Metal, Asphalt, Shingle
Listing Agency:
High Rock Realty Inc
(518) 691-0669
Listed By:
Daniel Munn · License #31MU0830205
(518) 281-4113
Added: Apr 16
Changed: Aug 8
Last Checked: Sep 3 at 7:06AM
MLS# 202615324
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 for-sale mixed-use income property features a three-unit layout: two apartments at the rear, plus a front office or tailor shop space. Reported income currently reflects only the 3BR apartment unit. The two apartments have recently been renovated.
The site includes a large 0.16-acre lot with off-street parking, two sheds, and fencing, along with a garden. The property has lot depth that extends to the alley. A variance is referenced to support use of the tailor shop as a professional office with a sign and off-street parking.
The building is located on Church Street in Saratoga Springs, just a couple blocks from Broadway, providing convenient commercial proximity within the area.
The site includes a large 0.16-acre lot with off-street parking, two sheds, and fencing, along with a garden. The property has lot depth that extends to the alley. A variance is referenced to support use of the tailor shop as a professional office with a sign and off-street parking.
The building is located on Church Street in Saratoga Springs, just a couple blocks from Broadway, providing convenient commercial proximity within the area.
Key Highlights
- 3‑unit building with two apartments (2BR and 3BR) plus a 700+- SF office/tailor shop in front
- Large .16‑acre lot with fencing and garden, plus 2 sheds and access to the alley at the rear
- Off‑street parking with driveway and tandem parking options
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
$42,177
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
4.91%
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%
$843,540
$843.5K
Cap Rate 7%
$602,529
$602.5K
Cap Rate 9%
$468,633
$468.6K
Market Conditions
NOI Build-Up for 2,842 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
$63.1K $22.20/SF
− Vacancy
−$2.8K −$1.00/SF
EGI
$60.3K $21.20/SF
− OpEx
−$18.1K −$6.36/SF
NOI
$42.2K $14.84/SF
Area
Saratoga County, NY
Vacancy
4.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$843,540
Cap Rate 7%
$602,529
Cap Rate 9%
$468,633
Alternative Uses
Best Use
Multifamily LT 5
$602.5K
$527.2K – $703.0K
NOI $42,177 @ 7.0% cap · market cap 4.91%
Second Best
Apartment 5plus
$539.1K
$471.7K – $628.9K
NOI $37,736 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$850.7K
$744.3K – $992.4K
NOI $59,546 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,497
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property includes two recently renovated apartments and a front office or tailor shop space.
Where is this triplex located?
The property is located at 119 Church Street Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: 3‑unit building with two apartments (2BR and 3BR) plus a 700+- SF office/tailor shop in front; Large .16‑acre lot with fencing and garden, plus 2 sheds and access to the alley at the rear; Off‑street parking with driveway and tandem parking options
