Mixed-Use Redevelopment
For Sale
$1,499,999
387 Nys Rt 9n church Street, Saratoga Springs, NY 12866
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 Market67
Property Features for 387 Nys Rt 9n church Street
General Information
Standard status
Active
Size
7,326 SF
Property subtype
Commercial
Building Details
Year Built
1945
Listing Agency:
Kelleher Realty
(518) 928-0093
Listed By:
Rachel Magnell · License #10401398070
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jun 19
Changed: Aug 23
Last Checked: Aug 24 at 6:16AM
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
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
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
Questions? Ask Rey
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Frequently Asked Questions
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 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: 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
