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    Saratoga Springs Commercial Opportunity Title is generated by Realmo AI

    167 High Rock Avenue, Saratoga Springs, NY 12866

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    For Sale
    $3,350,000

    COMMERCIAL - Saratoga Springs, NY

    Property size:
    15,756 SF
    Lot size:
    1.28 Acres
    Price / SF:
    $212/SF
    Added:
    May 13, 2026
    Days on Market:
    2
    Last Refresh:
    May 14 at 6:06 am

    Property Features for 167 High Rock Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Parking
    68
    Interior features
    High Speed Internet, Paddle Fan, Vaulted Ceiling(s), Built-in Features, Elevator
    Accessibility
    Accessible Elevator Installed
    Standard status
    Active
    APN
    411501 166.37-1-49.3
    Size
    15,756 SF
    Lot size
    1.28 Acres

    Taxes and HOA fees

    Tax Annual Amount
    47293

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1975
    Floors in Building
    2
    Flooring type
    Tile - Ceramic, Carpet
    Building materials
    Steel Beam

    We can help!

    Listing Contact
    Kate R Naughton
    Kate R Naughton

    Listing agent Kate R Naughton License #30NA0628084

    Listing office Roohan Realty 519 Broadway, Saratoga Springs, NY

    Listing date May 13, 2026

    MLS# 202617092

    Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Located on the Green Belt Trail.
    • Unique space with offices, conference rooms, gathering space, and a spacious auditorium.
    • Part of a PUD and zoned NC/T‑5.
    • Accessibility features include an installed elevator.
    • Interior features include high‑speed internet, vaulted ceilings, and built‑in features.
    • Steel beam construction.

    Overview

    This commercial property is located in Saratoga Springs, NY, and offers an exciting opportunity on the Green Belt Trail. The property is part of a Planned Unit Development (PUD) and is currently zoned NC/T-5. The current tenant, Grace Fellowship Church, has a lease that ends on December 31, 2027, with an option to extend their occupancy for another two years, until December 31, 2029. The building provides a unique space with offices, conference rooms, a gathering space, and a spacious auditorium. The property has a size of 15,756 square feet and is situated on a 1.28-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Churches & religious facilities

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Saratoga Springs
    County
    Saratoga
    State
    New York
    Longitude
    -73.776318
    Latitude
    43.08851

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    FAQs

    What type of property is this?
    Church & religious facility - Unique commercial space with tenant in place through 2027.
    Where is this church & religious facility located?
    The property is located at 167 High Rock Avenue Saratoga Springs, NY.
    What is the asking price?
    The asking price for this property is $3,350,000.
    What are key features of this property?
    This property features: Located on the Green Belt Trail.; Unique space with offices, conference rooms, gathering space, and a spacious auditorium.; Part of a PUD and zoned NC/T‑5.
    (518) 441-8527
    We can help!
    Listing Contact
    Kate R Naughton
    Kate R Naughton
    Real Estate License ID: 30NA0628084
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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