Two-Story Mixed-Use Office
For Sale
$674,990
1585 Route 146, Clifton Park, NY 12148
Professional layout includes private offices, shared workspace, kitchen, copy room, and accessible entry.
Property Size2,858 SF
Lot Size1.00 Acre
Price / SF$236.18
Days on Market8
Property Features for 1585 Route 146
General Information
Standard status
Active
Size
2,858 SF
Total Parking Spaces
18
Lot size
1.00 Acre
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$15,585
Amenities
working kitchen
copy room
ADA-compliant entry
central air
Central air
Accessible Approach with Ramp
Asphalt Roof
Carpet Flooring
Central Air Cooling
Composite Deck
Forced Air Heating
Hardwood Flooring
Landscaped
Level
Lighting
Natural Gas Heating
Off Street
Paved
Private
Rubber Roof
Building Details
Year Built
1960
Buildings
1
Stories
2
Building Size
2,858 SF
Listing Agency:
MIRANDA REAL ESTATE GROUP INC
(518) 356-1701
Listed By:
CHRISTINE M SERAFINI · License #40SE0980789
Source:
Corcoran
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 31 at 8:29AM
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 MIRANDA REAL ESTATE GROUP INC
Investment Insights
Based on property information with market context.
This 2,858 SF mixed-use building is configured for office use across two stories, with designated private offices, flexible common-area workspace, a working kitchen, copy room, and two bathrooms. The property includes central air, public water, commercial zoning, and an ADA-compliant entry. Interior improvements include professional paint, newer flooring and carpet, and updated light fixtures. A new furnace was installed in 2025, and the side section has a new rubber roof.
Set on a full acre along Route 146, the property provides 18 private parking spaces and a prominent commercial setting. Its existing configuration can accommodate professional office operations, medical or dental use, financial or insurance services, wellness or counseling, and related service businesses, subject to applicable requirements.
Set on a full acre along Route 146, the property provides 18 private parking spaces and a prominent commercial setting. Its existing configuration can accommodate professional office operations, medical or dental use, financial or insurance services, wellness or counseling, and related service businesses, subject to applicable requirements.
Key Highlights
- 2,858 SF two‑story mixed‑use building configured for office use
- Full‑acre property along Route 146
- 18 private parking spaces with ADA‑compliant entry
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
$38,660
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
5.73%
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%
$773,200
$773.2K
Cap Rate 7%
$552,286
$552.3K
Cap Rate 9%
$429,556
$429.6K
Market Conditions
NOI Build-Up for 2,858 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
$61.7K $21.60/SF
− Vacancy
−$10.2K −$3.56/SF
EGI
$51.5K $18.04/SF
− OpEx
−$12.9K −$4.51/SF
NOI
$38.7K $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%
$773,200
Cap Rate 7%
$552,286
Cap Rate 9%
$429,556
Alternative Uses
Best Use
Office B
$552.3K
$483.3K – $644.3K
NOI $38,660 @ 7.0% cap · market cap 5.73%
Second Best
Mixed Use
$496.1K
$434.1K – $578.8K
NOI $34,725 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$855.4K
$748.5K – $998.0K
NOI $59,881 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
Explore this area
Business Placement
Demographics for 12148, NY
4,935
Population
1,949
Households
2.5
Avg Household Size
47
Median Age
58%
College-Educated
95%
High-School Grad
15.6 sq mi
ZIP Area
316
Density / Sq Mi
$135,694
Median Household Income
$103,654
Median Earnings
$1,134
Median Rent
$406,100
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?
Mixed-use property - Professional layout includes private offices, shared workspace, kitchen, copy room, and accessible entry.
Where is this mixed-use property located?
The property is located at 1585 Route 146 Clifton Park, NY.
What is the asking price?
The asking price for this property is $674,990.
What are key features of this property?
This property features: 2,858 SF two‑story mixed‑use building configured for office use; Full‑acre property along Route 146; 18 private parking spaces with ADA‑compliant entry
