Corner Lot Development
For Sale
$800,000
Pending
126 West Avenue, Saratoga Springs, NY 12866
Prime corner lot suitable for mixed-use or commercial development.
Property Size2,783 SF
Days on Market146
Property Features for 126 West Avenue
General Information
Standard status
Pending
Size
2,783 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,951
Amenities
Corner Lot
Asphalt Roof
Forced Air Heating
Natural Gas Heating
Off Street
Private
Listing Agency:
KW PLATFORM
(518) 281-6808
Listed By:
SCOTT P VARLEY · License #30VA0727304
Source:
Corcoran
Added: Mar 31
Changed: Aug 8
Last Checked: Jul 23 at 7:47AM
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 corner lot is located at a signalized intersection on West Ave, offering visibility and accessibility less than a mile from Broadway. The property is improved with a single-family home and has Transect 4 zoning, allowing for stand-alone retail, professional or medical offices, financial institutions, owner-occupied offices, mixed-use, or residential projects. The location is across from newly constructed senior housing, making it suitable for geriatric or support services. Approved architectural and site plans are included for a mixed-use development featuring 4,136 square feet of commercial space, a 1,122 square foot apartment, and four luxury condominiums ranging from 3,239 to 3,551 square feet. Each condominium is planned with 2-4 bedrooms, dens, private balconies, and garages. The property offers potential for reimagining the existing building or developing a modern mixed-use vision.
Key Highlights
- Approved architectural and site plans for a landmark mixed‑use development.
- Prime corner lot location at a signalized intersection on West Ave, offering outstanding visibility and accessibility.
- Highly flexible Transect 4 zoning allows for a wide variety of uses.
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
$37,646
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
4.71%
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%
$752,920
$752.9K
Cap Rate 7%
$537,800
$537.8K
Cap Rate 9%
$418,289
$418.3K
Market Conditions
NOI Build-Up for 2,783 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
$60.1K $21.60/SF
− Vacancy
−$9.9K −$3.56/SF
EGI
$50.2K $18.04/SF
− OpEx
−$12.5K −$4.51/SF
NOI
$37.6K $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 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%
$752,920
Cap Rate 7%
$537,800
Cap Rate 9%
$418,289
Alternative Uses
Best Use
Office B
$537.8K
$470.6K – $627.4K
NOI $37,646 @ 7.0% cap · market cap 4.71%
Second Best
Mixed Use
$483.0K
$422.7K – $563.6K
NOI $33,813 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$833.0K
$728.9K – $971.8K
NOI $58,309 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
636
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 Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Prime corner lot suitable for mixed-use or commercial development.
Where is this commercial land located?
The property is located at 126 West Avenue Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Approved architectural and site plans for a landmark mixed‑use development.; Prime corner lot location at a signalized intersection on West Ave, offering outstanding visibility and accessibility.; Highly flexible Transect 4 zoning allows for a wide variety of uses.
