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    New Construction Retail Suite Title is generated by Realmo AI

    230 Church Avenue, Ballston Spa, NY 12020

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    For Lease
    $4,267/Mo $9 SF/Yr (calc)

    New construction retail space with dedicated HVAC, ample electrical service, and natural light near major retail uses.

    Property size:
    5,595 SF
    Added:
    Sep 10, 2025
    Days on Market:
    269
    Last Refresh:
    Jun 5 at 2:44 am

    Property Features for 230 Church Avenue

    General Information

    Standard status
    Active
    Size
    5,595 SF

    Building Details

    Year Built
    2022

    We can help!

    Listing Contact
    Anne T O'Toole

    Listing office Roohan Realty

    Listing date Sep 10, 2025

    Source Signatureonerealtygroup

    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

    HighLights

    • New construction retail built in 2022 at the intersection of Route 50 and Route 67 in Ballston Spa (15,000 VPD).
    • 3,200 SF available for lease adjacent to a convenience store with designated parking.
    • Space includes dedicated HVAC, 200 amp 3‑phase electric, 2 bathrooms, and 10.6' finished ceiling height.
    • Can be subdivided into two 1,600 SF spaces.
    • Located near downtown and major retailers including banks, Dunkin', McDonalds, and Hannaford.
    • $16/SF plus NNN with a 5‑year term preferred.

    Overview

    This new construction retail offering features a 3,200 sf space adjacent to a convenience store, with designated parking and abundant natural light. The space includes dedicated HVAC, 200-amp three-phase electric service, two bathrooms, and approximately 10.6 feet of finished ceiling height. The layout is also flexible, with the ability to subdivide into two 1,600 sf units.

    The property is located at the intersection of Route 50 and 67 in Ballston Spa, supported by reported traffic volumes of approximately 15,000 vehicles per day. The site is positioned near downtown and within a cluster of nearby national and local retailers, including Dunkin’, McDonald’s, Hannaford, and several banks.

    This location and configuration can work well for a tenant seeking a visible storefront environment with dedicated building systems and practical restroom facilities. The option to split into two smaller suites may also support a range of retail or service concepts that benefit from smaller footprints while remaining in the same building.
    Location Intelligence

    Current Use by Public Records

    Sunoco Gas Station Auto Repair Shop Smart Coverage, Inc. Insurance Agency Ken's Auto Services Auto Repair Shop

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ballston Spa
    County
    Saratoga
    State
    New York
    Longitude
    -73.852248
    Latitude
    42.990281

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    FAQs

    What type of property is this?
    Retail space - New construction retail space with dedicated HVAC, ample electrical service, and natural light near major retail uses.
    Where is this retail space located?
    The property is located at 230 Church Avenue Ballston Spa, NY.
    What is the lease rate?
    The lease rate is $4,267 /Mo.
    What are key features of this property?
    This property features: New construction retail built in 2022 at the intersection of Route 50 and Route 67 in Ballston Spa (15,000 VPD).; 3,200 SF available for lease adjacent to a convenience store with designated parking.; Space includes dedicated HVAC, 200 amp 3‑phase electric, 2 bathrooms, and 10.6' finished ceiling height.
    We can help!
    Listing Contact
    Anne T O'Toole
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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