Mixed-Use Building with
For Sale
Under Contract
$775,000
217-221 Milton Avenue, Ballston Spa, NY 12020
Commercial Sale, Ballston Spa, NY
Property Size4,562 SF
Lot Size0.18 Acres
Price / SF$169.88
Days on Market128
Property Features for 217-221 Milton Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
6
Parking features
Off Street
Patio and Porch features
Porch
Basement
Full
Lot features
Level, Corner Lot
High school
Ballston Spa
Elementary school district
Ballston Spa
Middle school district
Ballston Spa
High school district
Ballston Spa
Directions
Milton Avenue and Ford Street (corner lot).
Standard status
Active Under Contract
APN
414201 216.24-2-3
Size
4,562 SF
Lot size
0.18 Acres
Additional Details
Mixed-Use Components
retail, residential
Taxes and HOA fees
Tax Annual Amount
9677
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Baseboard, Natural Gas
Cooling system
Central Air, Window Unit(s)
Water source
Public
Building Details
Year built
1840
Building materials
Brick, Wood Siding
Architectural style
Other
Buildings
2
Listing Agency:
Coldwell Banker Prime Properties · Coldwell Banker Real Estate
(518) 439-9600
Listed By:
Faith M Fierro · License #40FI0492598
(518) 210-5703
Added: Jun 24
Changed: Oct 27
Last Checked: Oct 29 at 4:06AM
MLS# 202620297
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.
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Investment Insights
Based on property information with market context.
This 4,562-square-foot mixed-use property in Ballston Spa has two storefronts, additional retail space on the second floor, and a two-bedroom apartment on the third floor. The apartment is owner-occupied, and the building is currently used as an antique center. Built in 1840, the property has brick and wood siding, a porch, and a two-story barn. Commercial zoning applies to the 0.18-acre parcel.
Off-street parking serves the property. Public water and sewer are available, and building systems include forced-air and baseboard heat with natural gas, plus central air and window units.
Off-street parking serves the property. Public water and sewer are available, and building systems include forced-air and baseboard heat with natural gas, plus central air and window units.
Key Highlights
- Two storefronts, second‑floor retail area, and a third‑floor two‑bedroom apartment
- 4,562 square feet on a 0.18‑acre parcel
- Two‑story barn and off‑street parking
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
Who owns this building?
See the owner, sales and loan history
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Multiple retail areas and an upper-floor apartment create a varied commercial and residential layout.
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: Two storefronts, second‑floor retail area, and a third‑floor two‑bedroom apartment; 4,562 square feet on a 0.18‑acre parcel; Two‑story barn and off‑street parking
