Turnkey Office Building with
For Sale
$399,900
Pending
1453 NYS RT 9P, Saratoga Springs, NY 12866
Commercial Sale, Saratoga Springs, NY
Property Size2,039 SF
Lot Size0.18 Acres
Days on Market92
Property Features for 1453 NYS RT 9P
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Parking
15
Parking features
Off Street
Interior features
High Speed Internet, Cathedral Ceiling(s), Ceramic Tile Bath
Basement
Crawl Space
Lot features
Road Frontage, Level, Corner Lot, Landscaped
High school
Saratoga Springs
Elementary school district
Saratoga Springs
Middle school district
Saratoga Springs
High school district
Saratoga Springs
Directions
From Union Ave, continue onto NY-9P S/Saratoga County Veterans Memorial Bridge then follow NY-9P S, pass by the gas station (on the left) and 1453 NY9P will be on the right Information is deemed to be reliable
Standard status
Pending
APN
415089 180.18-1-15.2
Size
2,039 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
6312
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Wall Unit(s)
Water source
Well
Amenities
cathedral ceilings
hardwood floors
recessed lighting
updated bathrooms
AC splits
Building Details
Year built
1970
Flooring type
Hardwood, Laminate, Carpet
Building materials
Stucco, Vinyl Siding
Roof type
Metal
Architectural style
Other
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Dominick Marchesiello · License #10401309332
(518) 338-7299
Added: May 21
Changed: Aug 19
Last Checked: Aug 20 at 3:06PM
MLS# 202617736
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.
1453 NYS Route 9P is a turnkey office property offering a completely renovated interior. The space features soaring natural wood cathedral ceilings with exposed trusses, hardwood floors, recessed lighting, new walls and trim, updated bathrooms, and efficient AC split units throughout.
The building is located on NYS Route 9P just around the corner from Saratoga Lake, in a busy year-round commercial corridor. The property includes parking for 15 vehicles and public sewer.
The site size is 0.18 acres and the property totals 2,039 square feet. Nearby points of reference mentioned include the Saratoga Boat Launch, Lago by Druthers, and Stewarts, with the Track about 5 minutes away.
The building is located on NYS Route 9P just around the corner from Saratoga Lake, in a busy year-round commercial corridor. The property includes parking for 15 vehicles and public sewer.
The site size is 0.18 acres and the property totals 2,039 square feet. Nearby points of reference mentioned include the Saratoga Boat Launch, Lago by Druthers, and Stewarts, with the Track about 5 minutes away.
Key Highlights
- Completely renovated office interior with cathedral ceilings, exposed trusses, hardwood floors, and recessed lighting
- Efficient AC splits and electric heating; cooling provided by wall unit(s)
- Ceramic tile bath and updated bathrooms with new walls and trim
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
$27,582
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
6.90%
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%
$551,640
$551.6K
Cap Rate 7%
$394,029
$394.0K
Cap Rate 9%
$306,467
$306.5K
Market Conditions
NOI Build-Up for 2,039 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
$44.0K $21.60/SF
− Vacancy
−$7.3K −$3.56/SF
EGI
$36.8K $18.04/SF
− OpEx
−$9.2K −$4.51/SF
NOI
$27.6K $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%
$551,640
Cap Rate 7%
$394,029
Cap Rate 9%
$306,467
Alternative Uses
Best Use
Office B
$394.0K
$344.8K – $459.7K
NOI $27,582 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$610.3K
$534.0K – $712.0K
NOI $42,721 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
72
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
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Frequently Asked Questions
What type of property is this?
Office building - Completely renovated office building on NYS Route 9P with parking for 15 vehicles and updated interior finishes.
Where is this office building located?
The property is located at 1453 NYS RT 9P Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Completely renovated office interior with cathedral ceilings, exposed trusses, hardwood floors, and recessed lighting; Efficient AC splits and electric heating; cooling provided by wall unit(s); Ceramic tile bath and updated bathrooms with new walls and trim
