Commercial Land with Existing
For Sale
$1,499,999
387 Nys Rt 9N Church Street, Saratoga Springs, NY 12866
Commercial Sale, Saratoga Springs, NY
Property Size7,326 SF
Lot Size1.79 Acres
Price / SF$204.75
Days on Market94
Property Features for 387 Nys Rt 9N Church Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
50
Directions
Broadway to Van Dam to Church
Standard status
Active
APN
411589 165.-1-30.1
Size
7,326 SF
Lot size
1.79 Acres
Taxes and HOA fees
Tax Annual Amount
12826
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1945
Building materials
Brick, Wood Siding
Roof type
Asphalt
Listing Agency:
Kelleher Realty LLC
(518) 695-6842
Listed By:
Rachel Magnell · License #10401398070
(518) 928-0093
Added: Jun 26
Changed: Sep 12
Last Checked: Sep 27 at 11:06AM
MLS# 202620566
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 1.79-acre commercial land parcel includes existing structures totaling 7,326 square feet. The improvements date to 1945 and feature brick and wood siding construction, an asphalt roof, public water, and public sewer. The structures are being conveyed as-is.
The property is located at 387 NYS Rt 9N (Church) Street in Saratoga Springs, NY 12866. Its Commercial zoning supports evaluation for commercial redevelopment, subject to buyer review of zoning, permits, municipal approvals, and other applicable requirements.
The property is located at 387 NYS Rt 9N (Church) Street in Saratoga Springs, NY 12866. Its Commercial zoning supports evaluation for commercial redevelopment, subject to buyer review of zoning, permits, municipal approvals, and other applicable requirements.
Key Highlights
- 1.79‑acre commercial land parcel
- 7,326 square feet of existing structures
- Commercial 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
$89,011
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
5.93%
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%
$1,780,220
$1.8M
Cap Rate 7%
$1,271,586
$1.3M
Cap Rate 9%
$989,011
$989.0K
Market Conditions
NOI Build-Up for 7,326 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
$158.2K $21.60/SF
− Vacancy
−$15.8K −$2.16/SF
EGI
$142.4K $19.44/SF
− OpEx
−$53.4K −$7.29/SF
NOI
$89.0K $12.15/SF
Area
Saratoga County, NY
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,780,220
Cap Rate 7%
$1,271,586
Cap Rate 9%
$989,011
Alternative Uses
Best Use
Mixed Use
$1.27M
$1.11M – $1.48M
NOI $89,011 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,494 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercially zoned land with existing improvements, public utilities, and redevelopment considerations.
Where is this commercial land located?
The property is located at 387 Nys Rt 9N Church Street Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $1,499,999.
What are key features of this property?
This property features: 1.79‑acre commercial land parcel; 7,326 square feet of existing structures; Commercial zoning
