Turnkey Office Suite with
For Sale
$399,900
1453 Route 9p, Saratoga Springs, NY 12866
Completely renovated office space with efficient AC splits, hardwood floors, and ample on-site parking.
Property Size2,039 SF
Price / SF$196.13
Days on Market78
Property Features for 1453 Route 9p
General Information
Standard status
Active
Size
2,039 SF
Total Parking Spaces
15
Additional Details
Business Included
Yes
Listing Agency:
KW Platform
(518) 338-7299
Listed By:
Dominick Marchesiello · License #10401309332
(518) 338-7299
Source:
Exprealty
Added: May 21
Changed: Jul 10
Last Checked: Jul 31 at 2:05PM
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.
The property at 1453 Route 9P is a turnkey office offering with a completely renovated interior. Inside, the space features soaring natural wood cathedral ceilings with exposed trusses, hardwood floors, and recessed lighting. Updates also include new walls and trim, updated bathrooms, and efficient AC split systems throughout, supporting a modern, move-in-ready work environment.
The building is positioned along Route 9P, with convenient parking for 15 vehicles. Public sewer service is available. The location is just around the corner from Saratoga Lake, with nearby community and commercial destinations including the Saratoga Boat Launch, Lago by Druthers, and Stewarts, and approximately five minutes to the Track.
This office configuration is well suited for professional tenants seeking a renovated space that is ready for immediate occupancy. With dedicated on-site parking and updated finishes that support an office environment, the property offers a practical option for owner-users and investors looking for an office asset on a busy year-round corridor.
The building is positioned along Route 9P, with convenient parking for 15 vehicles. Public sewer service is available. The location is just around the corner from Saratoga Lake, with nearby community and commercial destinations including the Saratoga Boat Launch, Lago by Druthers, and Stewarts, and approximately five minutes to the Track.
This office configuration is well suited for professional tenants seeking a renovated space that is ready for immediate occupancy. With dedicated on-site parking and updated finishes that support an office environment, the property offers a practical option for owner-users and investors looking for an office asset on a busy year-round corridor.
Key Highlights
- Completely renovated office interior with hardwood floors, recessed lighting, and new walls and trim
- Natural wood cathedral ceilings with exposed trusses for a high‑ceiling office feel
- Efficient AC splits throughout, plus updated bathrooms
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
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
54
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 space with efficient AC splits, hardwood floors, and ample on-site parking.
Where is this office building located?
The property is located at 1453 Route 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 hardwood floors, recessed lighting, and new walls and trim; Natural wood cathedral ceilings with exposed trusses for a high‑ceiling office feel; Efficient AC splits throughout, plus updated bathrooms
