Mixed-Use Property with
For Sale
$2,900,000
2255 Ballston Avenue, Saratoga Springs, NY 12866
Commercial Sale, Saratoga Springs, NY
Property Size10,240 SF
Lot Size14.19 Acres
Price / SF$283.20
Days on Market52
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 2, Bathroom 6, Bathroom 1, Bathroom 7, Bathroom 9, Bathroom 3, Bathroom 5, Bathroom 8
Parking
50
Parking features
Off Street
Interior features
Ceramic Tile Bath, Chair Rail, Crown Molding
Exterior features
Lighting
Basement
Finished, Full, Walk-Out Access
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, Hardwood, Tile
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) 693-1080
Added: Aug 6
Changed: Sep 12
Last Checked: Sep 26 at 12:06AM
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.
Villa Balsamo is a 10,240-square-foot mixed-use property on 14.19 acres at 2255 Ballston Avenue in Saratoga Springs. Built in 1929, the wood-sided building includes ceramic tile baths, crown molding, laminate, hardwood and tile flooring, hot-water heat, wall-unit cooling, metal roofing, and off-street parking. The grounds include mature trees, open green space, lighting, and a pond, while the property is served by public water and a septic tank.
The Mixed zoning and special-use permit framework support a broad range of identified commercial and institutional possibilities, including a bed and breakfast, inn, country club, commercial horse stable, micro-production of alcohol, greenhouse and nursery, agricultural use, and educational facility. The property also carries the Villa Balsamo name and a history of restaurant use, providing an established foundation for continued hospitality operations or a different mixed-use concept.
The Mixed zoning and special-use permit framework support a broad range of identified commercial and institutional possibilities, including a bed and breakfast, inn, country club, commercial horse stable, micro-production of alcohol, greenhouse and nursery, agricultural use, and educational facility. The property also carries the Villa Balsamo name and a history of restaurant use, providing an established foundation for continued hospitality operations or a different mixed-use concept.
Key Highlights
- 10,240‑square‑foot building on 14.19 acres
- Mixed zoning with a special‑use permit framework
- Identified uses include bed and breakfast, inn, country club, and commercial horse stable
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
$124,416
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
4.29%
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%
$2,488,320
$2.5M
Cap Rate 7%
$1,777,371
$1.8M
Cap Rate 9%
$1,382,400
$1.4M
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
−$22.1K −$2.16/SF
EGI
$199.1K $19.44/SF
− OpEx
−$74.6K −$7.29/SF
NOI
$124.4K $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 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%
$2,488,320
Cap Rate 7%
$1,777,371
Cap Rate 9%
$1,382,400
Alternative Uses
Best Use
Mixed Use
$1.78M
$1.56M – $2.07M
NOI $124,416 @ 7.0% cap · market cap 4.29%
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
29
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Established commercial property with public water, septic service, off-street parking, and a special-use framework supporting multiple business concepts.
Where is this mixed-use property 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 building on 14.19 acres; Mixed zoning with a special‑use permit framework; Identified uses include bed and breakfast, inn, country club, and commercial horse stable
