Waterfront Triplex with Separate
For Sale
$600,000
Pending
774 Nys Route 9P, Saratoga Springs, NY 12866
MULTI_FAMILY - Saratoga Springs, NY
Property Size1,740 SF
Lot Size0.55 Acres
Days on Market1155
Property Features for 774 Nys Route 9P
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Multi Residence
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 3
Parking
11
Parking features
Off Street, Driveway
Window features
Screens, Insulated Windows, Blinds
Patio and Porch features
Patio, Porch, Deck
Interior features
Paddle Fan, High Speed Internet
Basement
Exterior Entry, Finished, Full, Apartment, Walk-Out Access
Lot features
Road Frontage, Sloped, Views, Waterfront
Elementary school
Stillwater
High school
Stillwater
Elementary school district
Stillwater
Middle school district
Stillwater
High school district
Stillwater
Directions
NY-9P S/Saratoga County Veterans Memorial Bridge continue to follow NY-9P S Pass by the gas station (on the left in 0.2 mi)
Special listing conditions
Third Party Approval
Standard status
Pending
APN
415289 206.13-1-7
Size
1,740 SF
Lot size
0.55 Acres
Taxes and HOA fees
Tax Annual Amount
7959
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Radiant, Radiant Floor, Electric (Heating), Propane (Heating), Forced Air
Water front features
Lake, Beach Front, Lake Front
Water front
1
Building Details
Year built
1930
Number of units
3
Flooring type
Hardwood, Vinyl, Laminate
Building materials
Vinyl Siding
Roof type
Metal
Listing Agency:
KW Platform · Keller Williams Realty
(518) 281-6808
Listed By:
Scott P Varley · License #30VA0727304
(518) 281-6808
Added: Jun 19, 2023
Changed: Jul 24
Last Checked: Aug 16 at 4:06PM
MLS# 202319064
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 for-sale three-family property sits on Saratoga Lake and includes three rental units. The listing notes separate meters and public sewer, along with on-site parking for 11 vehicles. The property is identified as a 3-family residence with a total size of 1,740 square feet and a lot size of 0.55 acres.
The address is 774 NYS Route 9P in Saratoga Springs, NY 12866. The public remarks also indicate the units currently net $4,125 and are operated as three distinct rentals.
The listing further states the property can be combined with a separate 0.69-acre parcel located at 2 Bel Air Dr, which is described as holding a 2-bed/1-bath modular home. The remarks mention proximity to restaurants, downtown Saratoga, Saratoga Race Track, and Saratoga State Park.
The address is 774 NYS Route 9P in Saratoga Springs, NY 12866. The public remarks also indicate the units currently net $4,125 and are operated as three distinct rentals.
The listing further states the property can be combined with a separate 0.69-acre parcel located at 2 Bel Air Dr, which is described as holding a 2-bed/1-bath modular home. The remarks mention proximity to restaurants, downtown Saratoga, Saratoga Race Track, and Saratoga State Park.
Key Highlights
- 3‑family lakefront home on Saratoga Lake with lake and beach front features
- Set on 0.55 acres; built in 1930 with vinyl siding and a metal roof
- Three rental units currently net $4,125; separate meters and public sewer
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
$25,823
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
4.30%
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%
$516,460
$516.5K
Cap Rate 7%
$368,900
$368.9K
Cap Rate 9%
$286,922
$286.9K
Market Conditions
NOI Build-Up for 1,740 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
$38.6K $22.20/SF
− Vacancy
−$1.7K −$1.00/SF
EGI
$36.9K $21.20/SF
− OpEx
−$11.1K −$6.36/SF
NOI
$25.8K $14.84/SF
Area
Saratoga County, NY
Vacancy
4.50%
Lease Rate
$22.20 /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%
$516,460
Cap Rate 7%
$368,900
Cap Rate 9%
$286,922
Alternative Uses
Best Use
Multifamily LT 5
$368.9K
$322.8K – $430.4K
NOI $25,823 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$330.1K
$288.8K – $385.1K
NOI $23,104 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$520.8K
$455.7K – $607.6K
NOI $36,456 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
41
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 Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-family home on Saratoga Lake with separate meters, public sewer, and parking for 11.
Where is this triplex located?
The property is located at 774 Nys Route 9P Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 3‑family lakefront home on Saratoga Lake with lake and beach front features; Set on 0.55 acres; built in 1930 with vinyl siding and a metal roof; Three rental units currently net $4,125; separate meters and public sewer
