Two-Story Mixed-Use
New
For Sale
$2,500,000
227 Washington Street, Saratoga Springs, NY 12866
Combines commercial suites and residential apartments with central air, natural gas heat, and private parking.
Property Size7,700 SF
Lot Size0.36 Acres
Price / SF$324.68
Days on Market4
Property Features for 227 Washington Street
General Information
Standard status
Active
Size
7,700 SF
Total Parking Spaces
17
Lot size
0.36 Acres
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$17,145
Amenities
200-amp electric
central air
natural gas heat
public water/sewer
enhanced accessibility features
Central air
Carport
Corner Lot
Accessible Sidewalks
Asphalt Roof
Central Air Cooling
Forced Air Heating
Natural Gas Heating
Off Street
Paved
Private
Building Details
Year Built
2015
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
ROOHAN REALTY
(518) 587-4500
Listed By:
AMY L SUTTON · License #30SU0496141
Source:
Corcoran
Added: Jul 30
Changed: Aug 2
Last Checked: Aug 2 at 6:32AM
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 ROOHAN REALTY
Investment Insights
Based on property information with market context.
Located at 227 Washington Street in Saratoga Springs, this 7,700 SF mixed-use property was built in 2015 on a .36-acre lot. The two-story building currently accommodates two commercial tenants and three residential apartments, creating a combination of business and residential space within one asset. Accessibility features support potential medical and professional office use, while central air, 200-amp electric service, natural gas heat, and public water and sewer serve the property.
The site includes a lighted private parking lot with 17 spaces and a carport. The property is minutes from downtown Broadway, placing it near Saratoga Springs’ central commercial area. Showings are available by appointment with 24-hour notice.
The site includes a lighted private parking lot with 17 spaces and a carport. The property is minutes from downtown Broadway, placing it near Saratoga Springs’ central commercial area. Showings are available by appointment with 24-hour notice.
Key Highlights
- 7,700 SF mixed‑use property on a .36‑acre lot
- Built in 2015 with a two‑story configuration
- Currently includes two commercial tenants and three residential apartments
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $166.3k | $21.60 |
| − Vacancy | −$27.4k | −$3.56 |
| EGI | $138.9k | $18.04 |
| − OpEx | −$34.7k | −$4.51 |
| NOI | $104.2k | $13.53 |
7,700 SF · lease $21.60/SF/yr · vacancy 16.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.49M
$1.30M – $1.74M
NOI $104,158 @ 7.0% cap · market cap 4.17%
Second Best
Apartment 5plus
$1.46M
$1.28M – $1.70M
NOI $102,240 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$2.30M
$2.02M – $2.69M
NOI $161,330 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,843
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines commercial suites and residential apartments with central air, natural gas heat, and private parking.
Where is this mixed-use property located?
The property is located at 227 Washington Street Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 7,700 SF mixed‑use property on a .36‑acre lot; Built in 2015 with a two‑story configuration; Currently includes two commercial tenants and three residential apartments
