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    Saratoga Lake Redevelopment Opportunity Title is generated by Realmo AI

    1192 NY-9P, Saratoga Springs, NY 12866

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    Claim this Listing
    For Sale
    Under Contract
    $1,200,000

    COMMERCIAL - Saratoga Springs, NY

    Lot size:
    3.23 Acres
    Added:
    Dec 30, 2025
    Days on Market:
    141
    Last Refresh:
    May 20 at 5:06 am

    Property Features for 1192 NY-9P

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Mixed
    Bathrooms
    12
    Rooms
    Bathroom 4, Bathroom 5, Bathroom 7, Bathroom 3, Bathroom 11, Bathroom 8, Bathroom 12, Bathroom 2, Bathroom 6, Bathroom 9, Bathroom 10, Bathroom 1
    Parking
    20
    Parking features
    Off Street
    Standard status
    Active Under Contract
    APN
    415089 206.6-2-11
    Lot size
    3.23 Acres

    Taxes and HOA fees

    Tax Annual Amount
    19542

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Oil
    Water source
    Well
    Water front features
    Lake Front, Lake
    Water front
    1

    Building Details

    Year built
    1960
    Floors in Building
    2
    Flooring type
    Wood
    Building materials
    Wood Siding
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Scott P Varley
    Scott P Varley

    Listing agent Scott P Varley License #30VA0727304

    Listing office KW Platform 382 Broadway, Latham, NY

    Listing date Dec 30, 2025

    MLS# 202531191

    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.

    HighLights

    • Prime Saratoga Lake shoreline location on 9P with 3.32 total acres and 10 lots for redevelopment.
    • Rare opportunity to transform the desirable east side of Saratoga Lake.
    • Includes an existing 8‑unit motel, cottage, and house on three lots.
    • One parcel (82 Rodgers Lane) connects to town sewer.
    • Additional waterfront parcel (73 Hiller Ln) offers 50 ft of waterfront with potential for two new structures.
    • Offers killer sunset views and amazing lake access.

    Overview

    This offering presents a redevelopment opportunity on the east side of Saratoga Lake. The site consists of 10 lots totaling 3.32 acres in a shoreline location. Currently, an 8-unit motel, cottage, and house are situated on three of the lots, totaling 1 acre. Another parcel, spanning just over half an acre, connects to the town sewer. Additionally, three lots offer 50 feet of waterfront, presenting the potential for the construction of two new structures. The property is located on 9P and includes 82 Rodgers Lane (lots 15, 8, 7) and 73 Hiller Ln. The location offers lake access.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Building Supply Big Box & Wholesale Store Hotel & Motel Furniture & Home Goods

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Saratoga Lake Motel — 1192 NY-9P, Saratoga Springs, NY 12866

    Location Insight

    • Map
    • Local Demand
    City
    Saratoga Springs
    County
    Saratoga
    State
    New York
    Longitude
    -73.719875
    Latitude
    43.026981

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    FAQs

    What type of property is this?
    Motel - 3.32 acres on Saratoga Lake shoreline for redevelopment.
    Where is this motel located?
    The property is located at 1192 NY-9P Saratoga Springs, NY.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Prime Saratoga Lake shoreline location on 9P with 3.32 total acres and 10 lots for redevelopment.; Rare opportunity to transform the desirable east side of Saratoga Lake.; Includes an existing 8‑unit motel, cottage, and house on three lots.
    (518) 281-6808
    We can help!
    Listing Contact
    Scott P Varley
    Scott P Varley
    Real Estate License ID: 30VA0727304
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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