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    Restaurant Property Near Saratoga Gateway Title is generated by Realmo AI

    588 Lake Avenue, Saratoga Springs, NY 12866

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    For Sale
    $399,000

    Turnkey restaurant or redevelopment opportunity near Saratoga Springs.

    Type:Commercial
    Property size:
    1,444 SF
    Lot size:
    2.34 Acres
    Price / SF:
    $276/SF
    Added:
    Feb 13, 2026
    Days on Market:
    112
    Last Refresh:
    Apr 5 at 9:17 pm

    Property Features for 588 Lake Avenue

    General Information

    Standard status
    Active
    Size
    1,444 SF
    Lot size
    2.34 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1960

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    Listing Contact
    ELIZABETH PAGE
    ELIZABETH PAGE

    Listing agent ELIZABETH PAGE License #10401333541

    Listing office KW PLATFORM

    Listing date Feb 13, 2026

    Source Corcoran

    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 KW PLATFORM

    HighLights

    • Fully equipped, turnkey restaurant included with all furniture, fixtures, and equipment (FFE).
    • Flexible use potential: restaurant, seasonal business, event venue, redevelopment project, or subdivision.
    • Prime location at the Gateway to Saratoga Springs.
    • Includes three deeded lots.
    • Ample on‑site parking for approximately 85 vehicles.
    • Potential subdivision into three building lots backed up to open field.

    Overview

    This property presents a rare opportunity to acquire a turnkey restaurant on Lake Avenue in Saratoga Springs, or to establish a seasonal destination business. Alternative uses include an event venue, a redevelopment project, or a potential subdivision into three building lots backing onto an open field. The offering includes three deeded lots and a fully equipped restaurant with all furniture, fixtures, and equipment (FFE). Restaurant equipment includes a walk-in cooler and smoker. On-site parking accommodates approximately 85 vehicles. The property is situated in a prime location at the Gateway to Saratoga, offering flexible use potential. It is located 6 minutes from downtown Saratoga Springs. The property size is 1444 square feet.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $31.2k $21.60
    − Vacancy −$1.3k −$0.91
    EGI $29.9k $20.69
    − OpEx −$7.5k −$5.17
    NOI $22.4k $15.52
    1,444 SF · lease $21.60/SF/yr · vacancy 4.20% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $320.1K
    $280.1K – $373.5K (±1% cap)
    NOI $22,410 @ 7.0% cap · market cap 5.62%
    Second Best
    no second resolved use
    Theoretical Best
    Office A
    $432.2K
    $378.2K – $504.3K (±1% cap)
    NOI $30,255 @ 7.0% cap · market cap 7.58%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Kaleidoscope Cafe Grocery & Convenience Store

    Suggested Use

    Real Estate Agency Gym & Fitness Center Hotel & Motel Furniture & Home Goods Cafe & Coffee Shop (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store

    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
    -73.7087
    Latitude
    43.0875

    FAQs

    What type of property is this?
    Conventional restaurant - Turnkey restaurant or redevelopment opportunity near Saratoga Springs.
    Where is this conventional restaurant located?
    The property is located at 588 Lake Avenue Saratoga Springs, NY.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Fully equipped, turnkey restaurant included with all furniture, fixtures, and equipment (FFE).; Flexible use potential: restaurant, seasonal business, event venue, redevelopment project, or subdivision.; Prime location at the Gateway to Saratoga Springs.
    More about this property
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