Mixed-Use Building with
For Sale
$14,900,000
430 Broadway, Saratoga Springs, NY 12866
Commercial storefronts share the property with apartments and office space on upper floors.
Property Size33,051 SF
Price / SF$450.82
Days on Market8
Property Features for 430 Broadway
General Information
Standard status
Active
Size
33,051 SF
Property subtype
Commercial
Occupancy
100%
Building Details
Year Built
1867
Tenancy
Multi
Listing Agency:
Roohan Realty
Listed By:
Amy L Sutton
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Sep 28
Changed: Oct 4
Last Checked: Oct 4 at 10:14AM
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 Roohan Realty
Investment Insights
Based on property information with market context.
At 430 Broadway in downtown Saratoga Springs, this 33,051-square-foot mixed-use property brings commercial and residential space together in one building. Retail, restaurant, and bar businesses occupy the storefronts, with apartments and offices above. The property dates to 1867 and is fully leased.
Businesses at the property include Lifestyles of Saratoga, Tin & Lint Company, The Merc, Esperantos, The Vault, Desperate Annie’s, The Soundbar, and The Bourbon Room. Ownership has remained within the same family for more than 100 years.
Businesses at the property include Lifestyles of Saratoga, Tin & Lint Company, The Merc, Esperantos, The Vault, Desperate Annie’s, The Soundbar, and The Bourbon Room. Ownership has remained within the same family for more than 100 years.
Key Highlights
- 33,051 square feet of mixed‑use space
- Built in 1867
- Retail, restaurant, and bar businesses at street level, with apartments and offices above
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
$512,938
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
3.44%
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%
$10,258,760
$10.3M
Cap Rate 7%
$7,327,686
$7.3M
Cap Rate 9%
$5,699,311
$5.7M
Market Conditions
NOI Build-Up for 33,051 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
$713.9K $21.60/SF
− Vacancy
−$30.0K −$0.91/SF
EGI
$683.9K $20.69/SF
− OpEx
−$171.0K −$5.17/SF
NOI
$512.9K $15.52/SF
Area
Saratoga County, NY
Vacancy
4.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$10,258,760
Cap Rate 7%
$7,327,686
Cap Rate 9%
$5,699,311
Alternative Uses
Best Use
Specialty Retail
$7.33M
$6.41M – $8.55M
NOI $512,938 @ 7.0% cap · market cap 3.44%
Second Best
Mixed Use
$5.74M
$5.02M – $6.69M
NOI $401,570 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$9.89M
$8.66M – $11.54M
NOI $692,485 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,607
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial storefronts share the property with apartments and office space on upper floors.
Where is this mixed-use property located?
The property is located at 430 Broadway Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $14,900,000.
What are key features of this property?
This property features: 33,051 square feet of mixed‑use space; Built in 1867; Retail, restaurant, and bar businesses at street level, with apartments and offices above
