Single-Story Medical Office
New
For Sale
$375,000
299 N Ballston Ave, Scotia, NY 12302
One-floor facility with private parking and BR Business Residence zoning.
Property Size2,400 SF
Price / SF$156.25
Days on Market5
Property Features for 299 N Ballston Ave
General Information
Standard status
Active
Size
2,400 SF
Total Parking Spaces
14
Property subtype
Commercial
Zoning
BR
Building Details
Year Built
1998
Buildings
1
Stories
1
Building Size
2,400 SF
Listing Agency:
Berkshire Hathaway Home Services Blake
(518) 526-1800
Listed By:
Brian Walters · License #49CO0926929
(518) 526-1800
Source:
Albanyprimeproperties
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 29 at 9:04AM
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 Berkshire Hathaway Home Services Blake
Investment Insights
Based on property information with market context.
Located at 299 N Ballston Avenue in Scotia, NY 12302, this 2,400-square-foot, one-floor building was constructed in 1998. The property was previously used as a medical office and later served as a temporary facility for the Scotia Police.
The site includes a private parking lot with space for 14 cars. BR Business Residence zoning is in place, providing the property’s stated land-use designation.
The site includes a private parking lot with space for 14 cars. BR Business Residence zoning is in place, providing the property’s stated land-use designation.
Key Highlights
- 2,400‑square‑foot, one‑floor building
- Constructed in 1998
- Previously used as a medical office
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
$30,866
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
8.23%
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%
$617,320
$617.3K
Cap Rate 7%
$440,943
$440.9K
Cap Rate 9%
$342,956
$343.0K
Market Conditions
NOI Build-Up for 2,400 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
$56.2K $23.40/SF
− Vacancy
−$4.7K −$1.97/SF
EGI
$51.4K $21.43/SF
− OpEx
−$20.6K −$8.57/SF
NOI
$30.9K $12.86/SF
Area
Schenectady County, NY
Vacancy
8.40%
Lease Rate
$23.40 /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%
$617,320
Cap Rate 7%
$440,943
Cap Rate 9%
$342,956
Alternative Uses
Best Use
Office B
$577.7K
$505.5K – $674.0K
NOI $40,440 @ 7.0% cap · market cap 10.78%
Second Best
Healthcare Medical
$440.9K
$385.8K – $514.4K
NOI $30,866 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$718.4K
$628.6K – $838.1K
NOI $50,285 @ 7.0% cap · market cap 13.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12302, NY
27,618
Population
12,406
Households
2.2
Avg Household Size
45
Median Age
42%
College-Educated
95%
High-School Grad
43.3 sq mi
ZIP Area
638
Density / Sq Mi
$94,156
Median Household Income
$55,305
Median Earnings
$1,207
Median Rent
$240,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - One-floor facility with private parking and BR Business Residence zoning.
Where is this medical office space located?
The property is located at 299 N Ballston Ave Scotia, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2,400‑square‑foot, one‑floor building; Constructed in 1998; Previously used as a medical office
