Refrigerated Cold Storage
New
For Sale
$3,400,000
217 Edie Road, Saratoga Springs, NY 12866
Climate-controlled warehouse with freezer, cooler, office, dock, and grade-level loading capabilities.
Property Size38,820 SF
Lot Size12.48 Acres
Price / SF$87.58
Days on Market2
Property Features for 217 Edie Road
General Information
Standard status
Active
Size
38,820 SF
Total Parking Spaces
65
Lot size
12.48 Acres
Property subtype
Industrial
Occupancy
100%
Warehouse & Industrial
Clear Height
24 ft
Warehouse Space
35,707 SF
Office Build-Out
3,113 SF
Dock-High Doors
8
Drive-In Doors
2
Rail Access
Yes
Power
1,200 amps
Three-Phase Power
Yes
Cold Storage
Yes
Cold Storage Area
6,000 SF
Additional Details
Utilities to Site
Yes
Building Details
Buildings
1
Building Size
38,820 SF
Tenancy
Single
Listing Agency:
CBRE - Albany
Listed By:
Dan Simpson · License #Associate Real Estate Broker
(518) 365-0990
Source:
Cbre
Added: Sep 6
Last Checked: Sep 7 at 5:44AM
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 CBRE - Albany
Investment Insights
Based on property information with market context.
This refrigerated and cold storage facility contains approximately 38,820 SF, including about 35,707 SF of warehouse space and 3,113 SF of office area. The warehouse includes roughly 6,000 SF of freezer and cooler space, with both dry storage and climate-controlled areas. Clear heights range from 21 to 24 feet. Loading improvements include eight trailer-height docks, one ramped dock, and two grade-level doors measuring 12’ x 14’ and 12’ x 16’. The building also has three-phase, 1200 amps power and approximately 65 parking spaces.
The 12.48-acre site is served by a private well and two septic systems, including a grinder pump and oil/water separator. Additional site improvements include a 2,000-gallon above-ground fueling station. The property is located on an active spur for Canadian-Pacific and is subject to an NNN lease through January 2029.
The 12.48-acre site is served by a private well and two septic systems, including a grinder pump and oil/water separator. Additional site improvements include a 2,000-gallon above-ground fueling station. The property is located on an active spur for Canadian-Pacific and is subject to an NNN lease through January 2029.
Key Highlights
- ±38,820 SF building on a ±12.48 Acre site
- ±35,707 SF warehouse with ±3,113 SF office space
- ±6,000 SF of freezer/cooler space plus dry storage
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
$291,540
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
8.57%
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%
$5,830,800
$5.8M
Cap Rate 7%
$4,164,857
$4.2M
Cap Rate 9%
$3,239,333
$3.2M
Market Conditions
NOI Build-Up for 38,820 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
$368.0K $9.48/SF
− Vacancy
−$25.0K −$0.64/SF
EGI
$343.0K $8.84/SF
− OpEx
−$51.4K −$1.33/SF
NOI
$291.5K $7.51/SF
Area
Saratoga County, NY
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$5,830,800
Cap Rate 7%
$4,164,857
Cap Rate 9%
$3,239,333
Alternative Uses
Best Use
Warehouse
$4.16M
$3.64M – $4.86M
NOI $291,540 @ 7.0% cap · market cap 8.57%
Second Best
Industrial
$3.43M
$3.00M – $4.00M
NOI $240,092 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$11.62M
$10.17M – $13.56M
NOI $813,357 @ 7.0% cap · market cap 23.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24 ft
Clear height
8
Dock-high doors
2
Drive-in doors
100%
Occupancy
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
14
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Refrigerated & cold storage - Climate-controlled warehouse with freezer, cooler, office, dock, and grade-level loading capabilities.
Where is this refrigerated & cold storage located?
The property is located at 217 Edie Road Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: ±38,820 SF building on a ±12.48 Acre site; ±35,707 SF warehouse with ±3,113 SF office space; ±6,000 SF of freezer/cooler space plus dry storage
