Commercial Land with Existing
For Sale
$899,900
383 Church Street, Saratoga Springs, NY 12866
Redevelopment site with an existing structure, Church Street frontage, and potential commercial or mixed-use applications subject to municipal approvals.
Property Size3,323 SF
Price / SF$270.81
Days on Market23
Property Features for 383 Church Street
General Information
Standard status
Active
Size
3,323 SF
Property subtype
Multi-family
Building Details
Year Built
1880
Listing Agency:
Kelleher Realty
Listed By:
Rachel Magnell
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jul 20
Changed: Aug 10
Last Checked: Aug 10 at 4:17AM
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 Kelleher Realty
Investment Insights
Based on property information with market context.
This 0.46-acre commercial land site includes an existing 3,323-square-foot structure built in 1880 and offered as-is. The property provides 137 feet of frontage along Church Street, also identified as the Route 9N corridor, with redevelopment potential subject to municipal approvals.
The site is located near downtown Saratoga Springs, Saratoga Hospital, Skidmore College, and major residential communities. Potential applications identified for the property include commercial, mixed-use, medical, professional office, hospitality, and residential uses, subject to applicable approvals. The parcel may also be acquired in conjunction with the adjoining property, which is offered separately, for a larger assemblage with additional frontage.
The site is located near downtown Saratoga Springs, Saratoga Hospital, Skidmore College, and major residential communities. Potential applications identified for the property include commercial, mixed-use, medical, professional office, hospitality, and residential uses, subject to applicable approvals. The parcel may also be acquired in conjunction with the adjoining property, which is offered separately, for a larger assemblage with additional frontage.
Key Highlights
- 0.46‑acre commercial land site with an existing structure
- 3,323‑square‑foot existing structure built in 1880
- 137 feet of frontage along Church Street (Route 9N)
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
$44,122
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
4.90%
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%
$882,440
$882.4K
Cap Rate 7%
$630,314
$630.3K
Cap Rate 9%
$490,244
$490.2K
Market Conditions
NOI Build-Up for 3,323 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
$83.7K $25.20/SF
− Vacancy
−$3.5K −$1.06/SF
EGI
$80.2K $24.14/SF
− OpEx
−$36.1K −$10.86/SF
NOI
$44.1K $13.28/SF
Area
Saratoga County, NY
Vacancy
4.20%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$882,440
Cap Rate 7%
$630,314
Cap Rate 9%
$490,244
Alternative Uses
Best Use
Apartment 5plus
$630.3K
$551.5K – $735.4K
NOI $44,122 @ 7.0% cap · market cap 4.90%
Second Best
Mixed Use
$576.8K
$504.7K – $672.9K
NOI $40,374 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$994.6K
$870.3K – $1.16M
NOI $69,623 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
Explore this area
Business Placement
Demographics for 12866, NY
40,355
Population
20,462
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
95%
High-School Grad
64.3 sq mi
ZIP Area
628
Density / Sq Mi
$98,374
Median Household Income
$53,265
Median Earnings
$1,460
Median Rent
$419,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Redevelopment site with an existing structure, Church Street frontage, and potential commercial or mixed-use applications subject to municipal approvals.
Where is this commercial land located?
The property is located at 383 Church Street Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 0.46‑acre commercial land site with an existing structure; 3,323‑square‑foot existing structure built in 1880; 137 feet of frontage along Church Street (Route 9N)
