Office Building with
For Sale
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2388 Rte 9, Mechanicville, NY 12118
Centrally located medical and professional office building with full ADA accessibility, elevator service, and plenty of parking.
Property Size28,036 SF
Price / SF$210.44
Days on Market876
Property Features for 2388 Rte 9
General Information
Standard status
Active
Size
28,036 SF
Elevators
Yes
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Amenities
parklike setting
ADA accessible
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Roohan Realty
(518) 587-4500
Listed By:
Cynthia Hollowood · License #10401335536
(518) 207-7682
Source:
Moodyscre
Added: Jun 10, 2024
Changed: Oct 26
Last Checked: Nov 1 at 8:30AM
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
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Investment Insights
Based on property information with market context.
Centrally located medical and professional office building totaling 28,036 SF in a parklike setting. The building includes full ADA accessibility and elevator service, along with a full basement that could be adapted for additional rental space or used for record storage.
The property is situated about 1 mile from Exit 12 of I-87 Adirondack Northway, supporting convenient access for patients, clients, and staff. Plenty of parking is available on site.
Tenants pay CAM charges, helping keep operating cost responsibility with occupants. The location is identified as being in the Malta area.
The property is situated about 1 mile from Exit 12 of I-87 Adirondack Northway, supporting convenient access for patients, clients, and staff. Plenty of parking is available on site.
Tenants pay CAM charges, helping keep operating cost responsibility with occupants. The location is identified as being in the Malta area.
Key Highlights
- 28,036 SF medical/professional office building in a parklike setting
- Full ADA accessibility and elevator service
- Full basement that could be adapted for additional rental space or record storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$387,872
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,757,440
$7.8M
Cap Rate 7%
$5,541,029
$5.5M
Cap Rate 9%
$4,309,689
$4.3M
Market Conditions
NOI Build-Up for 28,036 SF
Gross rent
$706.5K $25.20/SF
− Vacancy
−$60.1K −$2.14/SF
EGI
$646.5K $23.06/SF
− OpEx
−$258.6K −$9.22/SF
NOI
$387.9K $13.83/SF
Area
Saratoga County, NY
Vacancy
8.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,757,440
Cap Rate 7%
$5,541,029
Cap Rate 9%
$4,309,689
Alternative Uses
Best Use
Healthcare Medical
$5.54M
$4.85M – $6.46M
NOI $387,872 @ 7.0% cap · market cap 6.57%
Second Best
Office B
$5.42M
$4.74M – $6.32M
NOI $379,243 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$8.39M
$7.34M – $9.79M
NOI $587,410 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
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Business Placement
Demographics for 12118, NY
16,618
Population
8,079
Households
2.1
Avg Household Size
42
Median Age
33%
College-Educated
93%
High-School Grad
35.3 sq mi
ZIP Area
471
Density / Sq Mi
$91,182
Median Household Income
$54,079
Median Earnings
$1,105
Median Rent
$315,100
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Centrally located medical and professional office building with full ADA accessibility, elevator service, and plenty of parking.
Where is this office building located?
The property is located at 2388 Rte 9 Mechanicville, NY.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: 28,036 SF medical/professional office building in a parklike setting; Full ADA accessibility and elevator service; Full basement that could be adapted for additional rental space or record storage
