Freestanding Building on Route
For Sale
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1288 Saratoga Rd, Gansevoort, NY 12831
Freestanding building suitable for retail, restaurant, or office use.
Property Size1,500 SF
Price / SF$330
Days on Market1582
Property Features for 1288 Saratoga Rd
General Information
Standard status
Active
Size
1,500 SF
Total Parking Spaces
25
Property subtype
Retail
Building Details
Buildings
1
Stories
1
Listing Agency:
Cushman & Wakefield Pyramid Brokerage Company Syracuse
Listed By:
Lee Salvetti · License #NY 30SA0668254
Source:
Crexi
Added: May 6, 2022
Changed: Aug 13
Last Checked: Sep 1 at 8:28PM
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 Cushman & Wakefield Pyramid Brokerage Company Syracuse
Investment Insights
Based on property information with market context.
This freestanding 1,500-square-foot building is located on Route 9, in close proximity to Route 87. Deed restrictions apply, prohibiting use as a gas station, convenience store selling food or alcohol, or auto parts store. The property is suitable for various purposes, including fast food, restaurants, national or local retail, services, medical facilities, or general office space.
Key Highlights
- Freestanding building on Route 9 with high visibility.
- Close proximity to Route 87 exit for easy access.
- Suitable for a variety of uses: fast food, restaurant, retail, services, medical or office.
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
$23,279
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
4.70%
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%
$465,580
$465.6K
Cap Rate 7%
$332,557
$332.6K
Cap Rate 9%
$258,656
$258.7K
Market Conditions
NOI Build-Up for 1,500 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
$32.4K $21.60/SF
− Vacancy
−$1.4K −$0.91/SF
EGI
$31.0K $20.69/SF
− OpEx
−$7.8K −$5.17/SF
NOI
$23.3K $15.52/SF
Area
Saratoga County, NY
Vacancy
4.20%
Lease Rate
$21.60 /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%
$465,580
Cap Rate 7%
$332,557
Cap Rate 9%
$258,656
Alternative Uses
Best Use
Specialty Retail
$332.6K
$291.0K – $388.0K
NOI $23,279 @ 7.0% cap · market cap 4.70%
Second Best
Office B
$289.9K
$253.6K – $338.2K
NOI $20,291 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$449.0K
$392.9K – $523.8K
NOI $31,428 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 12831, NY
17,483
Population
7,228
Households
2.4
Avg Household Size
43
Median Age
44%
College-Educated
94%
High-School Grad
65.2 sq mi
ZIP Area
268
Density / Sq Mi
$100,833
Median Household Income
$59,278
Median Earnings
$1,361
Median Rent
$308,700
Median Home Value
Market
Vacancy Rate% for Office 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?
Storefront property - Freestanding building suitable for retail, restaurant, or office use.
Where is this storefront property located?
The property is located at 1288 Saratoga Rd Gansevoort, NY.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Freestanding building on Route 9 with high visibility.; Close proximity to Route 87 exit for easy access.; Suitable for a variety of uses: fast food, restaurant, retail, services, medical or office.
