Mixed-Use Building with
For Sale
$775,000
Pending
217-221 Milton Avenue, Ballston Spa, NY 12020
A multi-level configuration combines ground-floor storefronts, upper-level retail space, and a two-bedroom apartment.
Property Size4,562 SF
Days on Market134
Property Features for 217-221 Milton Avenue
General Information
Standard status
Pending
Size
4,562 SF
Property subtype
Mixed Use
Additional Details
Mixed-Use Components
retail, residential
Currently Operating
Yes
Amenities
off-street parking
Building Details
Year Built
1840
Buildings
2
Tenancy
Multi
Listing Agency:
Coldwell Banker Prime Properties
(518) 439-9600
Listed By:
Faith M Fierro · License #40FI0492598
(518) 210-5703
Source:
Simplywoodardrealestate
Added: Jun 24
Changed: Nov 3
Last Checked: Nov 3 at 8:53AM
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 Coldwell Banker Prime Properties
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Investment Insights
Based on property information with market context.
This 4,562-square-foot mixed-use building dates to 1840 and has a three-level layout. Two storefronts occupy the ground floor, with additional retail space on the second level. A two-bedroom apartment is situated on the third floor and is owner occupied. The property also includes a two-story barn and off-street parking.
Located in Ballston Spa, the building is currently used as an antique center. Its combination of storefronts, upper-floor retail space, residential accommodation, parking, and barn comprises the property's principal features.
Located in Ballston Spa, the building is currently used as an antique center. Its combination of storefronts, upper-floor retail space, residential accommodation, parking, and barn comprises the property's principal features.
Key Highlights
- 4,562‑square‑foot building constructed in 1840
- Two ground‑floor storefronts and additional retail space on the second floor
- Third‑floor, two‑bedroom apartment is owner occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,428
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,108,560
$1.1M
Cap Rate 7%
$791,829
$791.8K
Cap Rate 9%
$615,867
$615.9K
Market Conditions
NOI Build-Up for 4,562 SF
Gross rent
$98.5K $21.60/SF
− Vacancy
−$9.9K −$2.16/SF
EGI
$88.7K $19.44/SF
− OpEx
−$33.3K −$7.29/SF
NOI
$55.4K $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 Rate 5%
$1,108,560
Cap Rate 7%
$791,829
Cap Rate 9%
$615,867
Alternative Uses
Best Use
Mixed Use
$791.8K
$692.9K – $923.8K
NOI $55,428 @ 7.0% cap · market cap 7.15%
Second Best
Retail
$786.7K
$688.3K – $917.8K
NOI $55,067 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$1.37M
$1.19M – $1.59M
NOI $95,583 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
660
Businesses Nearby
Explore this area
Business Placement
Demographics for 12020, NY
34,667
Population
15,787
Households
2.2
Avg Household Size
42
Median Age
43%
College-Educated
94%
High-School Grad
75.6 sq mi
ZIP Area
459
Density / Sq Mi
$101,727
Median Household Income
$59,730
Median Earnings
$1,562
Median Rent
$299,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A multi-level configuration combines ground-floor storefronts, upper-level retail space, and a two-bedroom apartment.
Where is this mixed-use property located?
The property is located at 217-221 Milton Avenue Ballston Spa, NY.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 4,562‑square‑foot building constructed in 1840; Two ground‑floor storefronts and additional retail space on the second floor; Third‑floor, two‑bedroom apartment is owner occupied
