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    Saranac Lake Mixed-Use Gem Title is generated by Realmo AI

    36 Broadway, Saranac Lake, NY 12983

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    For Sale
    $750,000

    COMMERCIAL - Saranac Lake, NY

    Property size:
    7,192 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $104/SF
    Added:
    May 13, 2026
    Days on Market:
    10
    Last Refresh:
    May 22 at 9:06 am

    Property Features for 36 Broadway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Mixed
    Parking features
    Off Street, Parking Lot, Garage, On Street
    Interior features
    Apartment, Bidet, High Speed Internet, Natural Woodwork, Storage
    Exterior features
    Balcony, Lighting, Private Entrance, Storage
    Standard status
    Active
    APN
    447.69-7-22
    Size
    7,192 SF
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Annual Amount
    8274

    Utilities

    Utilities
    Phone Available
    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating), Zoned, Oil
    Water source
    Public
    Water front features
    River Access, River Front
    Water front
    1

    Building Details

    Year built
    1923
    Floors in Building
    2
    Flooring type
    Varies
    Building materials
    Brick, Clapboard, Concrete, Frame
    Roof type
    Metal, Rubber, Shingle
    Additional Structures
    Storage

    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 May 13, 2026

    MLS# 207218

    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.

    Overview

    Located in the heart of Downtown Saranac Lake, this mixed-use building offers charm, functionality, and prime riverfront appeal. The property is ideally located on Broadway with a European-style ambiance along the Saranac River. It features four commercial storefronts, including Anne's Crepes (15 years) and the Twin Crystal Rock Shop (12 years). Two storefronts are currently available, including the former Leftbank Cafe. There are three residential apartments, including a 1,742 square feet, 4-bedroom, 3-bath apartment, and two 650 square feet apartments. The rental units each have their own individual and shared outdoor living and entertaining spaces, including a deck with an outdoor bar. There is also a covered balcony with views of the Saranac River. The lower balcony overlooking the river provides seating for Leftbank Cafe patrons. The expansive basement includes garage parking or winter storage for vehicles or boats, and a workshop. The property is located steps from shops, art galleries, and the scenic riverwalk, and blocks from the future new home of Pendragon Theater. The lot size is 0.11 acres and the property size is 7,192 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Left Bank Café Restaurant Twin Crystal Rock ... (Bike/Boat/Book/etc) Store Anne's Crepes Restaurant twin cyrstal rock ... (Bike/Boat/Book/etc) Store Left Bank Market Food Market

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Saranac Lake
    County
    Franklin
    State
    New York
    Longitude
    -74.13177
    Latitude
    44.328093

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    FAQs

    What type of property is this?
    Mixed-use property - Iconic mixed-use property in downtown Saranac Lake with riverfront appeal.
    Where is this mixed-use property located?
    The property is located at 36 Broadway Saranac Lake, NY.
    What is the asking price?
    The asking price for this property is $750,000.
    (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.

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