Six-Unit Mixed-Use
For Sale
$870,000
154 Milton Ave, Ballston Spa, NY 12020
Street-level commercial space is fully leased, with four apartments above and on-site laundry.
Property Size6,378 SF
Price / SF$136.41
Days on Market93
Property Features for 154 Milton Ave
General Information
Standard status
Active
Size
6,378 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR, 2 x 2BR
Multifamily Units
4
Amenities
coin-op laundry
off-street parking
private rear entrance
garage
Building Details
Year Built
1955
Buildings
1
Tenancy
Multi
Listing Agency:
Gallo Realty Adk Inc
(518) 810-5885
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Jul 14
Changed: Oct 13
Last Checked: Oct 12 at 7:53PM
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 Gallo Realty Adk Inc
Investment Insights
Based on property information with market context.
This 6,378-square-foot mixed-use building, constructed in 1955, combines commercial and residential occupancy in a downtown setting. Four apartments are located above the street-facing commercial units, including two 3-bedroom residences and two 2-bedroom residences. The second-floor 3-bedroom apartment has been recently renovated and is available for showings, offering flexibility for an owner-occupant.
The commercial spaces are fully rented and each has separate heating and cooling with tenant-controlled responsibility. Residential apartments are served by a central boiler with individual thermostats, while each unit has its own electric meter. The property also includes coin-operated laundry, off-street parking, a private rear entrance, and a garage that is currently vacant.
The commercial spaces are fully rented and each has separate heating and cooling with tenant-controlled responsibility. Residential apartments are served by a central boiler with individual thermostats, while each unit has its own electric meter. The property also includes coin-operated laundry, off-street parking, a private rear entrance, and a garage that is currently vacant.
Key Highlights
- 6,378 SF mixed‑use building constructed in 1955
- Six total units with street‑level commercial space and four apartments above
- Residential mix includes two 3‑bedroom and two 2‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,493
Cap Rate
8.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,549,860
$1.5M
Cap Rate 7%
$1,107,043
$1.1M
Cap Rate 9%
$861,033
$861.0K
Market Conditions
NOI Build-Up for 6,378 SF
Gross rent
$137.8K $21.60/SF
− Vacancy
−$13.8K −$2.16/SF
EGI
$124.0K $19.44/SF
− OpEx
−$46.5K −$7.29/SF
NOI
$77.5K $12.15/SF
Area
Saratoga County, NY
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,549,860
Cap Rate 7%
$1,107,043
Cap Rate 9%
$861,033
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,686 @ 7.0% cap · market cap 9.73%
Second Best
Mixed Use
$1.11M
$968.7K – $1.29M
NOI $77,493 @ 7.0% cap · market cap 8.91%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,632 @ 7.0% cap · market cap 15.36%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
618
Businesses Nearby
Explore this area
Business Placement
Demographics for 12020, NY
34,667
Population
15,787
Households
2.2
Avg Household Size
42
Median Age
43%
College-Educated
94%
High-School Grad
75.6 sq mi
ZIP Area
459
Density / Sq Mi
$101,727
Median Household Income
$59,730
Median Earnings
$1,562
Median Rent
$299,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level commercial space is fully leased, with four apartments above and on-site laundry.
Where is this mixed-use property located?
The property is located at 154 Milton Ave Ballston Spa, NY.
What is the asking price?
The asking price for this property is $870,000.
What are key features of this property?
This property features: 6,378 SF mixed‑use building constructed in 1955; Six total units with street‑level commercial space and four apartments above; Residential mix includes two 3‑bedroom and two 2‑bedroom units
