Mixed-Use Redevelopment
For Sale
$1,499,999
387 MAPLE AVE, Saratoga Springs, NY 12866
Existing improvements are offered as-is with asphalt surfacing and on-site parking.
Property Size7,326 SF
Price / SF$204.75
Days on Market78
Property Features for 387 MAPLE AVE
General Information
Standard status
Active
Size
7,326 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$12,826
Amenities
3
Asphalt
50 Parking Spaces.
327x206
Building Details
Year Built
1945
Listing Agency:
Kelleher Realty LLC
(518) 695-6842
Listed By:
Rachel Magnell · License #10401398070
(518) 928-0093
Source:
Xome
Added: Jun 17
Changed: Sep 2
Last Checked: Sep 1 at 2:40PM
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 LLC
Investment Insights
Based on property information with market context.
This mixed-use property at 387 Maple Ave in Saratoga Springs includes existing structures constructed in 1945. The improvements are being offered in their current as-is condition, with asphalt surfacing and 50 parking spaces. The property dimensions are listed as 327x206.
The site is positioned along a major entrance into Saratoga Springs. Potential redevelopment scenarios identified for the property include commercial, medical, hospitality, mixed-use, and residential applications. The property may offer an additional 137 ft of road frontage. Buyers are responsible for evaluating zoning, permits, municipal approvals, and other redevelopment requirements.
The site is positioned along a major entrance into Saratoga Springs. Potential redevelopment scenarios identified for the property include commercial, medical, hospitality, mixed-use, and residential applications. The property may offer an additional 137 ft of road frontage. Buyers are responsible for evaluating zoning, permits, municipal approvals, and other redevelopment requirements.
Key Highlights
- Existing structures built in 1945 and offered as‑is
- 50 parking spaces with asphalt surfacing
- Property dimensions listed as 327x206
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
481
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Existing improvements are offered as-is with asphalt surfacing and on-site parking.
Where is this mixed-use property located?
The property is located at 387 MAPLE AVE 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: Existing structures built in 1945 and offered as‑is; 50 parking spaces with asphalt surfacing; Property dimensions listed as 327x206
