Historic Restaurant
New
For Sale
$2,900,000
2255 Ballston Avenue, Saratoga Springs, NY 12866
COMMERCIAL - Saratoga Springs, NY
Property Size10,240 SF
Lot Size14.19 Acres
Price / SF$283.20
Days on Market4
Property Features for 2255 Ballston Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed
Bathrooms
9
Full bathrooms
9
Rooms
Bathroom 4, Bathroom 7, Bathroom 2, Bathroom 3, Bathroom 8, Bathroom 6, Bathroom 9, Bathroom 5, Bathroom 1
Parking
50
Parking features
Off Street
Interior features
Ceramic Tile Bath, Chair Rail, Crown Molding
Exterior features
Lighting
Basement
Full, Walk-Out Access, Finished
Lot features
Private, Road Frontage, Level, Irregular Lot
High school
Saratoga Springs
Elementary school district
Saratoga Springs
Middle school district
Saratoga Springs
High school district
Saratoga Springs
Directions
Ballston Ave to 2255
Standard status
Active
APN
411589 190.-2-23
Size
10,240 SF
Lot size
14.19 Acres
Taxes and HOA fees
Tax Annual Amount
36684
Utilities
Sewer type
Septic Tank
Heating system
Hot Water(Heating)
Cooling system
Wall Unit(s)
Water source
Public
Water front features
Pond
Building Details
Year built
1929
Flooring type
Laminate, Tile, Hardwood
Building materials
Wood Siding
Roof type
Metal
Listing Agency:
KW Platform · Keller Williams Realty
(518) 281-6808
Listed By:
Scott P Varley · License #30VA0727304
(518) 281-6808
Added: Aug 6
Changed: Aug 7
Last Checked: Aug 9 at 10:06PM
MLS# 202623394
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.
Investment Insights
Based on property information with market context.
Located at 2255 Ballston Avenue, this 10,240-square-foot restaurant property occupies 14.19 acres in Saratoga Springs. The building dates to 1929 and includes multiple bathrooms, ceramic tile, hardwood, tile and laminate flooring, crown molding, chair rail detailing, wood siding, a metal roof, hot-water heating, wall-unit cooling and off-street parking. A pond, mature landscaping and open grounds are part of the setting.
The property has mixed zoning and a special-use permit framework identified for bed and breakfast, country club, inn, commercial horse stable, alcohol micro-production, greenhouse and nursery, agricultural, and educational uses. Public water and a septic tank serve the property. The site also carries the established Villa Balsamo name and a history as a restaurant, providing a foundation for continued restaurant operations or a different approved commercial concept.
The property has mixed zoning and a special-use permit framework identified for bed and breakfast, country club, inn, commercial horse stable, alcohol micro-production, greenhouse and nursery, agricultural, and educational uses. Public water and a septic tank serve the property. The site also carries the established Villa Balsamo name and a history as a restaurant, providing a foundation for continued restaurant operations or a different approved commercial concept.
Key Highlights
- 10,240‑square‑foot restaurant property on 14.19 acres
- 1929 building with multiple bathrooms and mixed hardwood, tile and laminate flooring
- Special‑use permit framework identifies hospitality, agricultural, equestrian, educational and production uses
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
$158,921
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
5.48%
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%
$3,178,420
$3.2M
Cap Rate 7%
$2,270,300
$2.3M
Cap Rate 9%
$1,765,789
$1.8M
Market Conditions
NOI Build-Up for 10,240 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
$221.2K $21.60/SF
− Vacancy
−$9.3K −$0.91/SF
EGI
$211.9K $20.69/SF
− OpEx
−$53.0K −$5.17/SF
NOI
$158.9K $15.52/SF
Area
Saratoga County, NY
Vacancy
4.20%
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%
$3,178,420
Cap Rate 7%
$2,270,300
Cap Rate 9%
$1,765,789
Alternative Uses
Best Use
Specialty Retail
$2.27M
$1.99M – $2.65M
NOI $158,921 @ 7.0% cap · market cap 5.48%
Second Best
Hotel Hospitality
$885.9K
$775.2K – $1.03M
NOI $62,016 @ 7.0% cap · market cap 2.14%
Theoretical Best
Office A
$3.06M
$2.68M – $3.58M
NOI $214,548 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Balanced
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Mixed zoning and a special-use permit framework accommodate several commercial and hospitality concepts.
Where is this conventional restaurant located?
The property is located at 2255 Ballston Avenue Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 10,240‑square‑foot restaurant property on 14.19 acres; 1929 building with multiple bathrooms and mixed hardwood, tile and laminate flooring; Special‑use permit framework identifies hospitality, agricultural, equestrian, educational and production uses
