Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Saratoga Springs Commercial Condominium Title is generated by Realmo AI

    48 Union Avenue, Saratoga Springs, NY 12866

    View on Map
    Claim this Listing
    For Sale
    $859,000

    COMMERCIAL - Other - Saratoga Springs, NY

    Type:Office
    Property size:
    2,190 SF
    Lot size:
    0.07 Acres
    Price / SF:
    $392/SF
    Added:
    Mar 1, 2026
    Days on Market:
    74
    Last Refresh:
    May 14 at 5:06 am

    Property Features for 48 Union Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Zoning
    Multi Residence
    Parking
    1
    Parking features
    Off Street
    Patio and Porch features
    Porch
    Interior features
    High Speed Internet, Built-in Features
    Basement
    Full, Finished
    Standard status
    Active
    APN
    411501 165.76-5-1
    Size
    2,190 SF
    Lot size
    0.07 Acres

    Taxes and HOA fees

    Tax Annual Amount
    5439

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air, Ductless
    Water source
    Public

    Building Details

    Year built
    1907
    Flooring type
    Carpet
    Building materials
    Frame, Brick
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Frances J Ryan
    Frances J Ryan

    Listing agent Frances J Ryan License #10401251044

    Listing office Roohan Realty 519 Broadway, Saratoga Springs, NY

    Listing date Mar 1, 2026

    MLS# 202612606

    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.

    HighLights

    • Desirable Saratoga Springs location, close to Downtown, the Racetrack, Fasig Tipton, and the Northway.
    • One assigned parking space plus ample street parking.
    • Historic charm with modern amenities, including high ceilings, detailed moldings, large windows with leaded glass, and wood floors.
    • Grand entrance with a welcoming reception area and spacious, light conference room.
    • Multiple private offices and plenty of storage space.
    • Central Air and Ductless cooling.

    Overview

    This commercial condominium features historic charm and modern amenities, including high ceilings, detailed moldings, large windows with leaded glass, and wood floors. Built-in bookshelves add to the interior's character. The property includes a grand entrance with a front porch and large entrance doors that lead to a welcoming reception area. A spacious and light conference room is located off the reception area, along with multiple private offices. Storage space and a 1/2 bath are available. The property includes one assigned parking space, with ample street parking also available. Located in Saratoga Springs, the property is near Downtown, the Racetrack, Fasig Tipton, and the Northway. The zoning code is UR4. The property is suitable for a professional office. The lot size is 0.07 acres and the property size is 2190 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Michele L. Anderson, ... Law Firm Anderson Firm PLLC Law Firm Coffey & Coffey PC Law Firm Many Jeffrey M ... Accounting Firm First Fairfield Associates Association Or Organization

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Saratoga Springs
    County
    Saratoga
    State
    New York
    Longitude
    -73.780462
    Latitude
    43.076865

    Nearby Similar for Sale

    • $800,000
      2,783 SF

      Saratoga Springs Corner Lot Opportunity

      Corner lot with development potential near Broadway.
      126 West Avenue, Saratoga Springs, NY 12866
      View Details
    • $595,000
      1,550 SF

      Medical Office Building For Sale

      1550 SF medical office building in Saratoga Springs, NY.
      8 Medical Arts Lane, Saratoga Springs, NY 12866
      View Details
    • $900,000
      15,000 SF

      Prime Saratoga Springs Mixed-Use Land

      Opportunity to build a 15,000 sqft mixed-use building.
      237 Washington Street, Saratoga Springs, NY 12866
      View Details
    • $595,000
      1,550 SF

      Saratoga Springs Commercial Building

      Commercial building suitable for medical, dental, or office use.
      8 Medical Arts Lane, Saratoga Springs, NY 12866
      View Details
    • $850,000
      2,102 SF

      Prime Commercial Property on Route

      High-profile commercial property near hospital and Saratoga Golf Club.
      290 Church Street, Saratoga Springs, NY 12866
      View Details
    • $3,350,000
      15,756 SF

      Saratoga Springs Commercial Opportunity

      Unique commercial space with tenant in place through 2027.
      167 High Rock Avenue, Saratoga Springs, NY 12866
      View Details
    • $3,250,000
      10,240 SF

      Saratoga Springs Commercial Opportunity

      Rare opportunity with history, location, and potential.
      2255 Ballston Avenue, Saratoga Springs, NY 12866
      View Details
    • $984,900
      2,501 SF

      Spacious Saratoga Property Near Broadway

      Versatile property near Broadway, ideal for living or income.
      138-140 Church Street, Saratoga Springs, NY 12866
      View Details
    • $1,999,999
      4,228 SF

      Mixed-Use Building with Development Potential

      High-visibility corner lot near Broadway with mixed-use zoning.
      108/114 Congress Street, Saratoga Springs, NY 12866
      View Details
    • $3,700,000
      6,413 SF

      Prime Saratoga Springs Mixed-Use Property

      High-visibility mixed-use property in downtown Saratoga Springs.
      417 Broadway, Saratoga Springs, NY 12866
      View Details
    • $1,225,000
      3,325 SF

      Saratoga Springs Three-Family Home

      Well-maintained three-family home near downtown Saratoga Springs.
      107 Lake Avenue, Saratoga Springs, NY 12866
      View Details
    • $675,000
      2,294 SF

      Two-Family Home Near Downtown

      Two-family home near downtown and Skidmore College.
      28 Waterbury Street, Saratoga Springs, NY 12866
      View Details

    FAQs

    What type of property is this?
    Office units - Commercial condominium with historic charm and modern amenities in Saratoga.
    Where is this office units located?
    The property is located at 48 Union Avenue Saratoga Springs, NY.
    What is the asking price?
    The asking price for this property is $859,000.
    What are key features of this property?
    This property features: Desirable Saratoga Springs location, close to Downtown, the Racetrack, Fasig Tipton, and the Northway.; One assigned parking space plus ample street parking.; **Historic charm with modern amenities, including high ceilings, detailed moldings, large windows with leaded glass, and wood floors.**
    (518) 207-7088
    We can help!
    Listing Contact
    Frances J Ryan
    Frances J Ryan
    Real Estate License ID: 10401251044
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    48 Union Avenue, Saratoga Springs, NY 12866
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!