Brick Flex Building with High
For Sale
$2,250,000
Pending
610 Maple Avenue, Saratoga Springs, NY 12866
Commercial Sale, Saratoga Springs, NY
Property Size16,800 SF
Lot Size3.31 Acres
Days on Market806
Property Features for 610 Maple Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
5
Directions
From Downtown Saratoga Springs, Broadway to NY-29 Truck E, left onto Marion Avenue for 1.8 miles, property will be on the right.
Standard status
Pending
APN
415600 140.17-1-7.2
Size
16,800 SF
Lot size
3.31 Acres
Taxes and HOA fees
Tax Annual Amount
12172
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Well
Building Details
Year built
1985
Building materials
Brick
Architectural style
Other
Listing Agency:
Roohan Realty
(518) 587-4500
Listed By:
Amy L Sutton · License #30SU0496141
(518) 527-3564
Added: Jul 22, 2024
Changed: Sep 12
Last Checked: Oct 5 at 1:06AM
MLS# 202421958
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 16,800-square-foot flex property sits on 3.31 acres and was built in 1985. The brick building features high ceilings, an adaptable floor plan, signage, central air, and natural-gas forced-air heating. Commercial zoning supports a range of uses identified for the property, including veterinary, restaurant, convenience store, motel or hotel, two-family dwelling, club or lodge, drive-in or drive-through, and health services.
The property is located on Route 9 in Saratoga Springs and includes on-site parking. Water is supplied by a well, with septic tank service. Its combination of flexible interior planning, highway exposure, and substantial land area supports varied commercial configurations.
The property is located on Route 9 in Saratoga Springs and includes on-site parking. Water is supplied by a well, with septic tank service. Its combination of flexible interior planning, highway exposure, and substantial land area supports varied commercial configurations.
Key Highlights
- 16,800 SF flex building on 3.31 acres
- High ceilings and adaptable floor plan
- Commercial zoning with multiple stated use possibilities
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
$202,789
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
9.01%
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%
$4,055,780
$4.1M
Cap Rate 7%
$2,896,986
$2.9M
Cap Rate 9%
$2,253,211
$2.3M
Market Conditions
NOI Build-Up for 16,800 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
$302.4K $18.00/SF
− Vacancy
−$12.7K −$0.76/SF
EGI
$289.7K $17.24/SF
− OpEx
−$86.9K −$5.17/SF
NOI
$202.8K $12.07/SF
Area
Saratoga County, NY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$4,055,780
Cap Rate 7%
$2,896,986
Cap Rate 9%
$2,253,211
Alternative Uses
Best Use
Flex RnD
$3.48M
$3.05M – $4.06M
NOI $243,734 @ 7.0% cap · market cap 10.83%
Second Best
Retail
$2.90M
$2.53M – $3.38M
NOI $202,789 @ 7.0% cap · market cap 9.01%
Theoretical Best
Office A
$5.03M
$4.40M – $5.87M
NOI $351,994 @ 7.0% cap · market cap 15.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial building with adaptable layout, ample parking, Route 9 exposure, and multiple stated use possibilities.
Where is this flex space located?
The property is located at 610 Maple Avenue Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 16,800 SF flex building on 3.31 acres; High ceilings and adaptable floor plan; Commercial zoning with multiple stated use possibilities
