Downtown Saratoga Springs Commercial
For Sale
$750,000
Pending
18 Division Street Unit 103, Saratoga Springs, NY 12866
Turn-key commercial condo in Saratoga Springs' downtown business district.
Property Size2,375 SF
Days on Market451
Property Features for 18 Division Street Unit 103
General Information
Standard status
Pending
Size
2,375 SF
Total Parking Spaces
1
Property subtype
Commercial Sale / Mixed Use
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$6,143
Amenities
Central Air, Yes
Forced Air, Natural Gas, Yes
None, Other
High Speed Internet
Steel Beam, Brick
1
garage
Yes
Key Card Entry, Other, Secured Garage/Parking, Smoke Detector(s), Building Security
Other, Maintenance Grounds, Trash
Building Details
Year Built
2007
Listing Agency:
Four Seasons Sotheby's International Realty
(413) 374-7808
Listed By:
Andrea L Collins · License #10301222905
(413) 374-7808
Source:
Compass
Added: May 29, 2025
Changed: Aug 8
Last Checked: Jul 24 at 2:24PM
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 Four Seasons Sotheby's International Realty
Investment Insights
Based on property information with market context.
Located in The Lofts at 18 Division, this 2375 square foot commercial condo is situated in the downtown business district of Saratoga Springs. The unit is suitable for an owner occupant or an investor seeking to lease. Previously used as a hair salon, the space has existing plumbing and electrical infrastructure. It was also previously occupied by Motif Home Gallery. The property features a storefront, providing convenient access for walk-in customers. The unit includes front and rear entrances, three private rooms suitable for offices, in-floor plumbing, and two bathrooms, as well as additional space for a kitchen or storage. The sale includes one indoor parking spot located on the lower level of the garage. The property has a strong rental history.
Key Highlights
- Prime downtown Saratoga Springs location in the business district
- Turn‑key commercial condo suitable for owner‑occupant or investor
- 2375 SF unit with impressive storefront and convenient walk‑in access**
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
$28,856
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
3.85%
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%
$577,120
$577.1K
Cap Rate 7%
$412,229
$412.2K
Cap Rate 9%
$320,622
$320.6K
Market Conditions
NOI Build-Up for 2,375 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
$51.3K $21.60/SF
− Vacancy
−$5.1K −$2.16/SF
EGI
$46.2K $19.44/SF
− OpEx
−$17.3K −$7.29/SF
NOI
$28.9K $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 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%
$577,120
Cap Rate 7%
$412,229
Cap Rate 9%
$320,622
Alternative Uses
Best Use
Mixed Use
$412.2K
$360.7K – $480.9K
NOI $28,856 @ 7.0% cap · market cap 3.85%
Second Best
Retail
$409.5K
$358.4K – $477.8K
NOI $28,668 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$710.9K
$622.0K – $829.4K
NOI $49,761 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,856
Businesses Nearby
Explore this area
Business Placement
Demographics for 12866, NY
40,355
Population
20,462
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
95%
High-School Grad
64.3 sq mi
ZIP Area
628
Density / Sq Mi
$98,374
Median Household Income
$53,265
Median Earnings
$1,460
Median Rent
$419,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Turn-key commercial condo in Saratoga Springs' downtown business district.
Where is this mixed-use property located?
The property is located at 18 Division Street Unit 103 Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Prime downtown Saratoga Springs location in the business district; Turn‑key commercial condo suitable for owner‑occupant or investor; 2375 SF unit with impressive storefront and convenient walk‑in access**
