Two-Story Office
New
For Sale
$674,990
1585 Route 146, Clifton Park, NY 12148
Commercial Sale, Clifton Park, NY
Property Size2,858 SF
Lot Size1.00 Acre
Price / SF$236.18
Days on Market5
Property Features for 1585 Route 146
General Information
Property type
Commercial Sale
Property subtype
Other
Security features
Security System
Patio and Porch features
Deck
Subdivision
Rexford
High school district
000000
Directions
VanAntwerp Road to 3rd exit on River Road, turn right on NYS Rt 146/Balltown Road, At the traffic circle, take the 2nd exit onto NY-146 E
Standard status
Active
APN
412400 269.-3-2.21
Size
2,858 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Annual Amount
15586
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
working kitchen
copy room
central air
ADA-compliant entry
Building Details
Year built
1960
Floors in Building
2
Flooring type
Carpet, Tile, Hardwood
Building materials
Wood Siding
Roof type
Asphalt, Rubber
Listing Agency:
Miranda Real Estate Group Inc
(518) 356-1701
Listed By:
Christine M Serafini · License #40SE0980789
(518) 356-1701
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 28 at 5:06PM
MLS# 11949862
Copyright © 2026 My State MLS. 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.
This 2,858-square-foot office building occupies a full 1-acre parcel along Route 146 and is arranged across two stories. The current layout includes private offices, flexible shared workspace, a working kitchen, copy room, and two bathrooms. Interior finishes include carpet, tile, and hardwood, with 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.
The property provides an ADA-compliant entry and 18 private parking spaces. Central air, natural gas forced-air heat, public water, and a septic tank are in place. Commercial zoning supports the existing office configuration, with the floor plan identified as suitable for medical or dental, legal, accounting, financial, insurance, wellness, counseling, real estate, and other professional office uses.
The property provides an ADA-compliant entry and 18 private parking spaces. Central air, natural gas forced-air heat, public water, and a septic tank are in place. Commercial zoning supports the existing office configuration, with the floor plan identified as suitable for medical or dental, legal, accounting, financial, insurance, wellness, counseling, real estate, and other professional office uses.
Key Highlights
- 2,858 SF two‑story office building on a full 1‑acre parcel
- 18 private parking spaces with an ADA‑compliant entry
- New furnace installed in 2025
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
Property Profile
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?
Office building - ADA-compliant entry, central air, and public water support accessible daily operations.
Where is this office building 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 office building on a full 1‑acre parcel; 18 private parking spaces with an ADA‑compliant entry; New furnace installed in 2025
