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    Prime Commercial Space in Lake Placid Title is generated by Realmo AI

    2375 Saranac Avenue, Lake Placid, NY 12946

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    Claim this Listing
    For Lease
    $4,900/Mo $28 SF/Yr (calc)

    COMMERCIAL - Lake Placid, NY

    Property size:
    2,090 SF
    Lot size:
    0.47 Acres
    Added:
    Mar 12, 2026
    Days on Market:
    71
    Last Refresh:
    May 21 at 10:06 pm

    Property Features for 2375 Saranac Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Commercial
    Parking
    60
    Parking features
    Parking Lot
    Exterior features
    Courtyard, Lighting
    Accessibility
    Accessible Approach with Ramp
    Appliances
    Built-In Gas Oven, Built-In Gas Range, Built-In Refrigerator, Cooktop, Dishwasher, Electric Water Heater, Free-Standing Freezer, Free-Standing Gas Range, Free-Standing Refrigerator, Gas Cooktop
    Standard status
    Active
    APN
    42.142-3-5.006
    Size
    2,090 SF
    Lot size
    0.47 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1970
    Floors in Building
    1
    Flooring type
    Combination, Tile - Ceramic, Concrete
    Building materials
    Wood Siding
    Roof type
    Shingle, Membrane, Mixed

    We can help!

    Listing Contact
    Matthew Ellis

    Listing agent Matthew Ellis

    Listing office Coldwell Banker Whitbeck Assoc Tupper Lake 96 Park Street, Tupper Lake, NY

    Listing date Mar 12, 2026

    MLS# 206712

    Copyright © 2026 Adirondack Champlain Valley MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime downtown Lake Placid location with high visibility and strong pedestrian traffic.
    • Located within the lower level of the Laurel Lake Placid boutique hotel, providing built‑in foot traffic.
    • Fully equipped restaurant space with a 1,000 sq ft kitchen and 7' x 9' walk‑in cooler.
    • Spacious 30' x 60' courtyard/patio area ideal for outdoor dining or retail display.
    • Versatile layout suitable for a wide range of retail or commercial uses beyond food service.
    • Close proximity to Mirror Lake and Lake Placid's main attractions, shops, and restaurants.

    Overview

    This commercial space is available for lease in downtown Lake Placid. The street-level location offers approximately 60 feet of road frontage and pedestrian traffic in an active retail corridor. Located within the lower level of Laurel Lake Placid, a boutique hotel, the space benefits from foot traffic while maintaining a private entrance. The property is configured as a restaurant space with a fully equipped kitchen, making it suitable for food service, but the layout also lends itself to retail or commercial uses. The dining or retail area offers approximately 1,350 square feet and includes two restrooms. The kitchen and storage area add an additional 1,000 square feet and feature a 7' x 9' walk-in cooler. Outside, a courtyard or patio area measuring approximately 30' x 60' provides potential for outdoor dining or retail display. The property is located near Mirror Lake and surrounded by shops, restaurants, and year-round attractions. The lot size is 0.47 acres and the property size is 2,090 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bluebird Lake Placid Hotel & Motel

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Center 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
    Lake Placid
    County
    Essex
    State
    New York
    Longitude
    -73.986028
    Latitude
    44.292276

    Nearby Similar for Lease

    • $6,500/Mo
      1,800 SF

      Prime Commercial Space in Lake Placid

      Exceptional visibility in iconic Adirondack destination. Ideal for various businesses.
      2490 Main Street, Lake Placid, NY 12946
      View Details
    • $4,900/Mo

      Lake Placid Commercial Space

      Commercial space available for rent in Lake Placid, NY.
      2375 Saranac Avenue, Lake Placid, NY 12946
      View Details
    • Contact for pricing
      1,268 SF

      Retail and Office Space Available

      Mixed-use retail and office building anchored by Price Chopper and Kinney Drugs.
      1936 Saranac Ave , Lake Placid, NY
      View Details

    FAQs

    What type of property is this?
    Restaurant - Highly visible commercial space in downtown Lake Placid for lease.
    Where is this restaurant located?
    The property is located at 2375 Saranac Avenue Lake Placid, NY.
    What is the lease rate?
    The lease rate is $4,900 /Mo.
    What are key features of this property?
    This property features: Prime downtown Lake Placid location with high visibility and strong pedestrian traffic.; Located within the lower level of the Laurel Lake Placid boutique hotel, providing built‑in foot traffic.; Fully equipped restaurant space with a 1,000 sq ft kitchen and 7' x 9' walk‑in cooler.
    (518) 359-9989
    We can help!
    Listing Contact
    Matthew Ellis
    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.

    More about this property
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