Building Details

Buildings 1

Stories 2

Building Size 2,858 SF

Listing Agency: Miranda Real Estate Group Inc w***@mrgteam.com Show Phone

Listed By: Christine M Serafini · License #40SE0980789 Show Phone

Source: Exprealty

Added: Aug 24 Changed: Nov 3 Last Checked: Nov 3 at 2:51PM

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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

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Investment Insights

Based on property information with market context.

This 2,858-square-foot, two-story office building sits on a full acre at 1585 Route 146, also identified as 2 Daggett Drive. Its layout includes private offices, shared work areas, a kitchen, a copy room, and two bathrooms. Building features include central air, an ADA-compliant entrance, and 18 private parking spaces. Public water serves the property, which has commercial zoning.

Recent improvements include a furnace installed in 2025, a replacement rubber roof on the side section, updated flooring and carpet, professional interior painting, and light fixtures. The property is located along Route 146 in Rexford.

Key Highlights

• 2,858‑square‑foot office building on a full acre
• Two‑story layout with private offices and shared workspace
• Kitchen, copy room, and two bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,660

Cap Rate

6.45%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$773,200 $773.2K

Cap Rate 7%

$552,286 $552.3K

Cap Rate 9%

$429,556 $429.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,858 SF

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 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 (±1% cap)

NOI $38,660 @ 7.0% cap · market cap 6.45%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$855.4K

$748.5K – $998.0K (±1% cap)

NOI $59,881 @ 7.0% cap · market cap 10.00%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Office buildings

Suggested Use

Top Pick Real Estate Agency Building Supply Big Box & Wholesale Store Auto Parts Store Hair Salon Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

80

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Frequently Asked Questions

What type of property is this?

Office building - Updated interiors include private offices, shared workspace, a kitchen, and two bathrooms.

Where is this office building located?

The property is located at 1585 Route 146 Rexford, NY.

What is the asking price?

The asking price for this property is $599,000.

What are key features of this property?

This property features: 2,858‑square‑foot office building on a full acre; Two‑story layout with private offices and shared workspace; Kitchen, copy room, and two bathrooms