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    2971 Rte 9 Ballston Spa, NY 12020

    Sponsored
    For Sale
    $1,499,000

    Prime NY Hotel & Development Land

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Exceptional development opportunity in Malta, NY, presents a 29-acre parcel (21 acres + 8 adjacent acres in Saratoga Springs) zoned C-7, ideally suited for hotel and retail construction. Currently featuring a 10-unit motel, this property offers significant upside potential. The expansive 1,306,800 square foot lot boasts a strategic location near Ballston Spa, with convenient access to major transportation routes. The asking price is $1,499,000. Building heights range from 8 to 10 feet. The property's existing motel structure provides immediate income potential while the substantial land area allows for extensive development. This presents a rare chance to capitalize on the growing hospitality and retail sectors in upstate New York. The property's proximity to Saratoga Springs further enhances its desirability. This is a unique opportunity to acquire a large parcel of land with existing infrastructure, ready for immediate development or expansion. The property consists of two units and is situated in a high-growth area. Don't miss this chance to acquire a significant commercial property in a prime location.

    Property Features for 2971 Rte 9

    General Information

    Property type
    Hotels

    Building Details

    Units
    2
    Property Profile Location Intelligence

    Current Use by Public Records

    Hotels

    Map

    City
    Ballston Spa
    County
    Saratoga
    State
    New York
    Longitude
    -73.7900583
    Latitude
    43.0302089

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    FAQs

    What type of property is this?
    Hotel - Prime NY Hotel & Development Land
    Where is this hotel located?
    The property is located at 2971 Rte 9 Ballston Spa, NY.
    What is the asking price?
    The asking price for this property is $1,499,000.
    Request Owner's contact information
    2971 Rte 9 Ballston Spa, NY 12020
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2971 Rte 9 Ballston Spa, NY 12020
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