Building Details

Year Built 2014

Building Size 10,000 SF

Listing Agency: Coldwell Banker Prime Properties

Listed By: Brian Walters · License #30WA0832219 Show Phone

Source: Albanyprimeproperties

Added: Aug 25 Changed: Oct 16 Last Checked: Oct 16 at 8:27AM

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Investment Insights

Based on property information with market context.

This mezzanine office unit provides 500 square feet within a 10,000-square-foot wellness and fitness center. The suite includes two connected private offices and an approximately 100-square-foot waiting area positioned above the main fitness floor. High windows provide natural light and views into the center’s activity area.

Occupants have access to shared client restrooms, a waiting area, and locker rooms. The property includes central air conditioning, 20 parking spaces, and was built in 2014. Located at 538 Maple Ave in Saratoga Springs, the suite is configured for office use within an established wellness-oriented commercial facility.

Key Highlights

• 500 sqft mezzanine suite within a 10,000 SF wellness and fitness center
• Two connected private offices and an approximately 100 sqft waiting area
• Waiting area overlooks the main fitness floor

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$206,963

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,139,260 $4.1M

Cap Rate 7%

$2,956,614 $3.0M

Cap Rate 9%

$2,299,589 $2.3M

What to ask about pricing

Market Conditions

NOI Build-Up for 15,300 SF

Gross rent

$330.5K $21.60/SF

− Vacancy

−$54.5K −$3.56/SF

EGI

$276.0K $18.04/SF

− OpEx

−$69.0K −$4.51/SF

NOI

$207.0K $13.53/SF

Area

Saratoga County, NY

Vacancy

16.50%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,139,260

Cap Rate 7%

$2,956,614

Cap Rate 9%

$2,299,589

Alternative Uses

Best Use

Office B

$2.96M

$2.59M – $3.45M (±1% cap)

NOI $206,963 @ 7.0% cap · market cap 15,920.23%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.58M

$4.01M – $5.34M (±1% cap)

NOI $320,566 @ 7.0% cap · market cap 24,658.92%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Restaurant HVAC Service Parking Lot & Garage Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Office units

Location Intelligence

Trade Area within ½ mile

224

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Frequently Asked Questions

What type of property is this?

Office units - Two connected private offices with a waiting area overlook an active wellness and fitness center and include shared client amenities.

Where is this office units located?

The property is located at 538 Maple Ave Wilton, NY.

What are key features of this property?

This property features: 500 sqft mezzanine suite within a 10,000 SF wellness and fitness center; Two connected private offices and an approximately 100 sqft waiting area; Waiting area overlooks the main fitness floor