Commercial Land with Existing
For Sale
$899,900
383 Church Street, Saratoga Springs, NY 12866
MultiFamily, Saratoga Springs, NY
Property Size3,323 SF
Lot Size0.58 Acres
Price / SF$270.81
Days on Market57
Property Features for 383 Church Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi Residence
Bedrooms
2
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 2
Parking
10
Basement
Unfinished, Full
Lot features
Level, Road Frontage
High school
Saratoga Springs
Elementary school district
Saratoga Springs
Middle school district
Saratoga Springs
High school district
Saratoga Springs
Directions
Church st East past hospital to 383.
Standard status
Active
APN
411589 165.-1-46
Size
3,323 SF
Lot size
0.58 Acres
Taxes and HOA fees
Tax Annual Amount
6761
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1880
Number of units
2
Building materials
Vinyl Siding, Wood Siding
Architectural style
Other
Listing Agency:
Kelleher Realty LLC
(518) 695-6842
Listed By:
Rachel Magnell · License #10401398070
(518) 928-0093
Added: Jul 20
Changed: Sep 12
Last Checked: Sep 14 at 1:06PM
MLS# 202622398
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.
This commercial land parcel includes a 3,323-square-foot existing structure built in 1880. The building is offered as-is, giving the next owner flexibility to evaluate redevelopment or reuse options. Zoning is designated Multi Residence, while potential commercial, mixed-use, medical, professional office, hospitality, and residential applications remain subject to municipal approvals.
The property occupies a visible position along Church Street and the Route 9N corridor, with 137 feet of frontage. Saratoga Springs, Saratoga Hospital, Skidmore College, and nearby residential communities are all identified in the surrounding context. Public water and public sewer serve the property, and cable is available.
The property occupies a visible position along Church Street and the Route 9N corridor, with 137 feet of frontage. Saratoga Springs, Saratoga Hospital, Skidmore College, and nearby residential communities are all identified in the surrounding context. Public water and public sewer serve the property, and cable is available.
Key Highlights
- 3,323‑square‑foot existing structure built in 1880
- 137 feet of frontage along Church Street and the Route 9N corridor
- Multi Residence zoning
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
$49,316
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
5.48%
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%
$986,320
$986.3K
Cap Rate 7%
$704,514
$704.5K
Cap Rate 9%
$547,956
$548.0K
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
$73.8K $22.20/SF
− Vacancy
−$3.3K −$1.00/SF
EGI
$70.5K $21.20/SF
− OpEx
−$21.1K −$6.36/SF
NOI
$49.3K $14.84/SF
Area
Saratoga County, NY
Vacancy
4.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$986,320
Cap Rate 7%
$704,514
Cap Rate 9%
$547,956
Alternative Uses
Best Use
Multifamily LT 5
$704.5K
$616.5K – $821.9K
NOI $49,316 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$630.3K
$551.5K – $735.4K
NOI $44,122 @ 7.0% cap · market cap 4.90%
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
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Multi Residence zoning, public water and sewer, and an existing building create a redevelopment framework 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: 3,323‑square‑foot existing structure built in 1880; 137 feet of frontage along Church Street and the Route 9N corridor; Multi Residence zoning
