Mixed-Use Redevelopment
387 Church St Saratoga Springs, NY 12866
387 Church St, Saratoga Springs, NY, 12866
$1,499,999
For Sale
$1,499,999
Redevelopment along a major city entrance with as-is structures and potential for additional road frontage.
Property Size7,326 SF
Price / SF$204.75
Days on Market27
Property Features for 387 Church St
General Information
- Standard status
- Active
- Size
- 7,326 SF
Listing agency
Kelleher Realty
(518) 928-0093
Listed by
Rachel Magnell · License #10401398070
(518) 928-0093
Source
Exprealty
Added: Jun 26 Updated: Jul 21 at 5:58AM Checked: Jul 22 at 6:44AM
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 mixed-use redevelopment opportunity at 387 Church St, Saratoga Springs, NY is positioned for a new chapter. The property consists of existing structures being sold as-is, and the buyer will be responsible for conducting all due diligence related to zoning, permits, municipal approvals, and redevelopment requirements.
The site is described as highly visible and located along a major entrance into the city. The offering also notes the potential for an additional 137 ft of road frontage, subject to approvals and redevelopment planning.
As presented, the property is best suited for buyers and developers who want to evaluate redevelopment scenarios based on their own feasibility work, including how the existing improvements may be incorporated into a future mixed-use plan.
The site is described as highly visible and located along a major entrance into the city. The offering also notes the potential for an additional 137 ft of road frontage, subject to approvals and redevelopment planning.
As presented, the property is best suited for buyers and developers who want to evaluate redevelopment scenarios based on their own feasibility work, including how the existing improvements may be incorporated into a future mixed-use plan.
Key Highlights
- Redevelopment opportunity along a major entrance into Saratoga Springs
- Highly visible gateway property suited for commercial, medical, hospitality, mixed‑use, or residential redevelopment
- Potential for additional 137 ft of road frontage
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $158.2k | $21.60 |
| − Vacancy | −$15.8k | −$2.16 |
| EGI | $142.4k | $19.44 |
| − OpEx | −$53.4k | −$7.29 |
| NOI | $89.0k | $12.15 |
7,326 SF · lease $21.60/SF/yr · vacancy 10.00% · expense 37.50%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Imagine Hand Painted ...
Painting Service
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FAQs
What type of property is this?
Mixed-use property - Redevelopment along a major city entrance with as-is structures and potential for additional road frontage.
Where is this mixed-use property located?
The property is located at 387 Church St 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: Redevelopment opportunity along a major entrance into Saratoga Springs; Highly visible gateway property suited for commercial, medical, hospitality, mixed‑use, or residential redevelopment; Potential for additional 137 ft of road frontage
