Established Pizzeria and Ice Cream
For Sale
$779,000
75 Saratoga Ave, South Glens Falls, NY 12803
Turn-key restaurant opportunity with strong profitability in South Glens Falls.
Property Size2,500 SF
Lot Size0.37 Acres
Price / SF$381.86
Days on Market152
Property Features for 75 Saratoga Ave
General Information
Standard status
Active
Size
2,500 SF
Lot size
0.37 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,519
Building Details
Building Size
2,500 SF
Year Built
1970
Listing Agency:
EXP REALTY
(631) 708-5249
Listed By:
Wayne A. Hartard · License #10301219674
(631) 708-5249
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 6:23AM
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 EXP REALTY
Investment Insights
Based on property information with market context.
This property presents a turn-key business opportunity in South Glens Falls, featuring Southy's Pizzeria and Southy's Soft Serve Ice Cream. Located on Saratoga Avenue, the property benefits from high traffic and a long-standing reputation. The building has been maintained with upgrades. The commercial kitchen, updated within the last 15 years, is fully equipped. The business offers consistent profitability, suitable for both experienced operators and new investors. The property includes 1,640 sq. ft. of interior space and an additional 400 sq. ft. of warehouse/storage area, situated on a 0.37-acre lot. On-site parking is available. The property features street and building signage and 111 feet of road frontage on Saratoga Avenue. The location offers visibility within one of South Glens Falls' active business districts.
Key Highlights
- Established, turn‑key business opportunity with two successful and well‑regarded businesses (pizzeria and soft serve ice cream).
- High‑traffic location on Saratoga Avenue with excellent street visibility and signage.
- Strong, consistent profitability suitable for experienced operators or new investors.
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
$26,383
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
3.39%
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%
$527,660
$527.7K
Cap Rate 7%
$376,900
$376.9K
Cap Rate 9%
$293,144
$293.1K
Market Conditions
NOI Build-Up for 2,040 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
$36.7K $18.00/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$35.2K $17.24/SF
− OpEx
−$8.8K −$4.31/SF
NOI
$26.4K $12.93/SF
Area
Warren County, NY
Vacancy
4.20%
Lease Rate
$18.00 /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%
$527,660
Cap Rate 7%
$376,900
Cap Rate 9%
$293,144
Alternative Uses
Best Use
Specialty Retail
$376.9K
$329.8K – $439.7K
NOI $26,383 @ 7.0% cap · market cap 3.39%
Second Best
Retail
$281.5K
$246.3K – $328.4K
NOI $19,706 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$610.6K
$534.3K – $712.4K
NOI $42,742 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
67k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 45%
Home Improvements & Furnishings 1%
McDonald's
Dining
21,214 visits/mo
0.5 miles
Dunkin' Donuts
Dining
11,180 visits/mo
0.1 miles
Dollar Tree
Shops & Services
10,655 visits/mo
0.4 miles
Dollar General
Shops & Services
8,659 visits/mo
0.2 miles
Advance Auto Parts
Shops & Services
4,671 visits/mo
0.4 miles
Demographics for 12803, NY
8,990
Population
3,819
Households
2.4
Avg Household Size
43
Median Age
29%
College-Educated
92%
High-School Grad
6.1 sq mi
ZIP Area
1,474
Density / Sq Mi
$80,913
Median Household Income
$42,782
Median Earnings
$1,194
Median Rent
$222,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turn-key restaurant opportunity with strong profitability in South Glens Falls.
Where is this conventional restaurant located?
The property is located at 75 Saratoga Ave South Glens Falls, NY.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Established, turn‑key business opportunity with two successful and well‑regarded businesses (pizzeria and soft serve ice cream).; High‑traffic location on Saratoga Avenue with excellent street visibility and signage.; Strong, consistent profitability suitable for experienced operators or new investors.
