Two-Story Mixed-Use
For Sale
$2,450,000
Pending
227 Washington Street, Saratoga Springs, NY 12866
Commercial Sale, Saratoga Springs, NY
Property Size7,700 SF
Lot Size0.22 Acres
Days on Market97
Property Features for 227 Washington Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
17
Parking features
Carport, Off Street
Patio and Porch features
Patio
Lot features
Corner Lot
High school
Saratoga Springs
Elementary school district
Saratoga Springs
Middle school district
Saratoga Springs
High school district
Saratoga Springs
Directions
From Broadway, turn onto Washington Street (Starbucks is on the corner. Drive west for approximately six blocks and the building on the right-cross street is Benshonhurst.
Standard status
Pending
APN
411501 165.65-2-48 and 411589 165.65-1-17
Size
7,700 SF
Lot size
0.22 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
17145
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
2015
Floors in Building
2
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Roohan Realty
(518) 587-4500
Listed By:
Amy L Sutton · License #30SU0496141
(518) 527-3564
Added: Jul 27
Changed: Oct 27
Last Checked: Oct 31 at 2:06AM
MLS# 202622948
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.
Built in 2015, this 7,700-square-foot, two-story mixed-use property includes two commercial tenants and three residential apartments. The building features central air, natural gas forced-air heat, 200-amp electric service, public water and sewer, and enhanced accessibility features. An asphalt roof and patio are also included.
A lighted private parking lot provides 17 spaces, with additional covered parking in the carport. The property consists of two parcels and is located on Washington Street near downtown Broadway in Saratoga Springs. Commercial zoning and the combination of business and residential components create a practical configuration for users seeking space within an established mixed-use building.
A lighted private parking lot provides 17 spaces, with additional covered parking in the carport. The property consists of two parcels and is located on Washington Street near downtown Broadway in Saratoga Springs. Commercial zoning and the combination of business and residential components create a practical configuration for users seeking space within an established mixed-use building.
Key Highlights
- 7,700‑square‑foot mixed‑use building constructed in 2015
- Two commercial tenants and three residential apartments
- Two‑story property with Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,240
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,044,800
$2.0M
Cap Rate 7%
$1,460,571
$1.5M
Cap Rate 9%
$1,136,000
$1.1M
Market Conditions
NOI Build-Up for 7,700 SF
Gross rent
$194.0K $25.20/SF
− Vacancy
−$8.1K −$1.06/SF
EGI
$185.9K $24.14/SF
− OpEx
−$83.7K −$10.86/SF
NOI
$102.2K $13.28/SF
Area
Saratoga County, NY
Vacancy
4.20%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,044,800
Cap Rate 7%
$1,460,571
Cap Rate 9%
$1,136,000
Alternative Uses
Best Use
Apartment 5plus
$1.46M
$1.28M – $1.70M
NOI $102,240 @ 7.0% cap · market cap 4.17%
Second Best
Mixed Use
$1.34M
$1.17M – $1.56M
NOI $93,555 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$2.30M
$2.02M – $2.69M
NOI $161,330 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
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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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The building combines commercial occupancy with three residential apartments and on-site 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 $2,450,000.
What are key features of this property?
This property features: 7,700‑square‑foot mixed‑use building constructed in 2015; Two commercial tenants and three residential apartments; Two‑story property with Commercial zoning
