Halfmoon Industrial Redevelopment
For Sale
$1,500,000
1879 Route 9, Halfmoon, NY 12065
9.17-acre site with redevelopment potential in high-demand industrial corridor.
Property Size9 SF
Lot Size9.17 Acres
Price / SF$268.43
Days on Market155
Property Features for 1879 Route 9
General Information
Standard status
Active
Size
9 SF
Lot size
9.17 Acres
Property subtype
Land
Building Details
Building Size
9 SF
Listing Agency:
Pyramidbrokerage
Listed By:
Pyramid Brokerage Albany
(518) 489-9199
Source:
Pyramidbrokerage
Added: Apr 4
Changed: Aug 8
Last Checked: Sep 4 at 2:03AM
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 Pyramidbrokerage
Investment Insights
Based on property information with market context.
This 9.17-acre site is located in a high-demand industrial corridor with a traffic count of over 16,000 vehicles per day. The property includes 5,588 square feet of existing improvements across four buildings, making it suitable for redevelopment. It is an excellent fit for retail, showroom, logistics, distribution, or professional uses requiring strong highway access. The site has approximately 600 feet of frontage on Route 9 in the Town of Halfmoon. The property is zoned Light Industrial-Commercial (LI-C). Water is available at Liebich Lane, and sewer is located across Route 9. It is located approximately 2 miles (approximately 3 minutes) from I-87 Exit 10 and is near UPS and Sysco distribution centers. A survey with aerials and wetland delineations is available.
Key Highlights
- Prime 9.17‑acre site in a high‑demand industrial corridor with 16,000+ vehicles/day.
- Excellent highway access: Just under 2 miles (approx. 3 minutes) to I‑87 Exit 10.
- Ideal for redevelopment with existing improvements: 5,588 SF across 4 buildings.
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
$75,589
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
5.04%
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%
$1,511,780
$1.5M
Cap Rate 7%
$1,079,843
$1.1M
Cap Rate 9%
$839,878
$839.9K
Market Conditions
NOI Build-Up for 5,588 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
$120.7K $21.60/SF
− Vacancy
−$19.9K −$3.56/SF
EGI
$100.8K $18.04/SF
− OpEx
−$25.2K −$4.51/SF
NOI
$75.6K $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%
$1,511,780
Cap Rate 7%
$1,079,843
Cap Rate 9%
$839,878
Alternative Uses
Best Use
Office B
$1.08M
$944.9K – $1.26M
NOI $75,589 @ 7.0% cap · market cap 5.04%
Second Best
Retail
$963.6K
$843.2K – $1.12M
NOI $67,452 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $117,080 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Explore this area
Business Placement
Demographics for 12065, NY
43,893
Population
19,506
Households
2.3
Avg Household Size
42
Median Age
53%
College-Educated
95%
High-School Grad
35.1 sq mi
ZIP Area
1,251
Density / Sq Mi
$115,681
Median Household Income
$61,692
Median Earnings
$1,419
Median Rent
$356,900
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?
Industrial land - 9.17-acre site with redevelopment potential in high-demand industrial corridor.
Where is this industrial land located?
The property is located at 1879 Route 9 Halfmoon, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Prime 9.17‑acre site in a high‑demand industrial corridor with 16,000+ vehicles/day.; Excellent highway access: Just under 2 miles (approx. 3 minutes) to I‑87 Exit 10.; Ideal for redevelopment with existing improvements: 5,588 SF across 4 buildings.
