Freestanding Building on Route
For Sale
Contact for pricing
1288 Saratoga Rd, Gansevoort, NY 12831
Freestanding building suitable for retail, restaurant, or office use.
Property Size1,500 SF
Price / SF$330
Days on Market1627
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: Oct 15
Last Checked: Oct 16 at 8:20AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$23,279
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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.
