Mixed-Use Redevelopment
For Sale
$1,499,999
387 Nys Rt 9N Church Street, Saratoga Springs, NY 12866
COMMERCIAL - Saratoga Springs, NY
Property Size7,326 SF
Lot Size1.79 Acres
Price / SF$204.75
Days on Market48
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
(518) 695-6842
Listed By:
Rachel Magnell · License #10401398070
(518) 928-0093
Added: Jun 26
Changed: Aug 4
Last Checked: Aug 12 at 11:06PM
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 commercial mixed-use redevelopment site includes existing structures being sold as-is. The property is positioned for mixed-use concepts, with remarks indicating compatibility with commercial, medical, hospitality, mixed-use, and residential redevelopment possibilities, subject to buyer verification. The total site area is 1.79 acres, with a property size of 7,326 square feet.
Located at 387 NYS Rt 9N (Church) Street in Saratoga Springs, NY, the property is described as highly visible and along a major entrance into the city. The seller also notes potential for an additional 137 feet of road frontage.
Zoning is listed as Commercial. Because redevelopment outcomes depend on approvals, the buyer is responsible for all due diligence regarding zoning, permits, municipal approvals, and redevelopment requirements.
Located at 387 NYS Rt 9N (Church) Street in Saratoga Springs, NY, the property is described as highly visible and along a major entrance into the city. The seller also notes potential for an additional 137 feet of road frontage.
Zoning is listed as Commercial. Because redevelopment outcomes depend on approvals, the buyer is responsible for all due diligence regarding zoning, permits, municipal approvals, and redevelopment requirements.
Key Highlights
- 1945‑built property with brick and wood siding construction.
- Public water and public sewer available.
- Asphalt roof.
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
$101,354
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
6.76%
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%
$2,027,080
$2.0M
Cap Rate 7%
$1,447,914
$1.4M
Cap Rate 9%
$1,126,156
$1.1M
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
$184.6K $25.20/SF
− Vacancy
−$15.7K −$2.14/SF
EGI
$168.9K $23.06/SF
− OpEx
−$67.6K −$9.22/SF
NOI
$101.4K $13.83/SF
Area
Saratoga County, NY
Vacancy
8.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
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%
$2,027,080
Cap Rate 7%
$1,447,914
Cap Rate 9%
$1,126,156
Alternative Uses
Best Use
Healthcare Medical
$1.45M
$1.27M – $1.69M
NOI $101,354 @ 7.0% cap · market cap 6.76%
Second Best
Office B
$1.42M
$1.24M – $1.65M
NOI $99,099 @ 7.0% cap · market cap 6.61%
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
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial redevelopment property with existing structures sold as-is and potential 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: 1945‑built property with brick and wood siding construction.; Public water and public sewer available.; Asphalt roof.
