Medical Office Building with
New
For Sale
$5,900,000
2388 US-9, Malta, NY 12020
Commercial Sale, Malta, NY
Property Size26,000 SF
Lot Size3.33 Acres
Price / SF$210.44
Days on Market5
Property Features for 2388 US-9
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Parking
72
Interior features
Elevator
Exterior features
Lighting
Basement
Full
Accessibility
Accessible Elevator Installed
Lot features
Road Frontage, Level, Cleared, Corner Lot, Landscaped
High school
Ballston Spa
Elementary school district
Ballston Spa
Middle school district
Ballston Spa
High school district
Ballston Spa
Directions
Northway to Exit 12, east on Rt 67, south on Rt 9. Building at the corner of Rt 9 and Knabner.
Standard status
Active
APN
414089 240.-2-50.1
Size
28,036 SF
Lot size
3.33 Acres
Taxes and HOA fees
Tax Annual Amount
83518
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Zoned
Cooling system
Central Air
Amenities
ADA accessibility
large basement area
Building Details
Year built
2006
Floors in Building
2
Flooring type
Carpet, Tile - Ceramic, Laminate
Building materials
Frame, Brick, Wood Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Roohan Realty
(518) 587-4500
Listed By:
Anne T O'Toole · License #10401335798
(518) 207-5090
Added: Sep 21
Changed: Sep 23
Last Checked: Sep 25 at 10:06PM
MLS# 202626768
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.
Investment Insights
Based on property information with market context.
Built in 2006, this 28,036-square-foot office building occupies 3.33 acres and is configured for medical and professional use. The property is fully leased to five established tenants and includes an elevator, ADA-accessible features, a basement area, and private parking. Interior finishes include carpet, ceramic tile, and laminate flooring, while the building is served by natural gas forced-air heating, zoned climate control, and central air conditioning.
The property is located at 2388 US-9 in Malta, New York, with Commercial zoning and public sewer service. Brick, frame, and wood siding construction, asphalt roofing, and exterior lighting complete the improvements. Its existing tenant occupancy and flexible configuration also support an owner-user arrangement with space for continued rental income.
The property is located at 2388 US-9 in Malta, New York, with Commercial zoning and public sewer service. Brick, frame, and wood siding construction, asphalt roofing, and exterior lighting complete the improvements. Its existing tenant occupancy and flexible configuration also support an owner-user arrangement with space for continued rental income.
Key Highlights
- 28,036‑square‑foot office building on 3.33 acres
- Fully leased to 5 established tenants
- Medical and professional office configuration
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$387,872
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
Explore this area
Business Placement
Demographics for 12020, NY
34,667
Population
15,787
Households
2.2
Avg Household Size
42
Median Age
43%
College-Educated
94%
High-School Grad
75.6 sq mi
ZIP Area
459
Density / Sq Mi
$101,727
Median Household Income
$59,730
Median Earnings
$1,562
Median Rent
$299,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Fully leased property with five established tenants, private parking, ADA access, and owner-user flexibility.
Where is this office building located?
The property is located at 2388 US-9 Malta, 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‑square‑foot office building on 3.33 acres; Fully leased to 5 established tenants; Medical and professional office configuration
