Medical Office
For Sale
Contact for pricing
9 Old Plank Rd, Clifton Park, NY 12065
Office and medical use building with 48 parking spaces and plenty of natural light.
Property Size7,161 SF
Price / SF$195.50
Days on Market55
Property Features for 9 Old Plank Rd
General Information
Standard status
Active
Size
7,161 SF
Total Parking Spaces
48
Property subtype
OFFICE
Listing Agency:
CBRE | Albany
(518) 452-2700
Listed By:
Eric Simonds · License #10301208701
(518) 598-9985
Source:
Moodyscre
Added: Jul 13
Changed: Jul 21
Last Checked: Sep 4 at 7:11AM
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 CBRE | Albany
Investment Insights
Based on property information with market context.
This commercial office building offers a configuration well-suited for office and outpatient medical services, with zoning that also supports personal care uses. The property includes plenty of natural light throughout, creating a bright interior environment for daily operations.
The building is located on Old Plank Rd in Clifton Park and is approximately 10.6 miles from Exit 9 of I-87. It also sits near numerous other commercial users along Route 9, a primary regional throughfare.
With 48 parking spaces on site, the property supports convenient access for staff and visitors.
The building is located on Old Plank Rd in Clifton Park and is approximately 10.6 miles from Exit 9 of I-87. It also sits near numerous other commercial users along Route 9, a primary regional throughfare.
With 48 parking spaces on site, the property supports convenient access for staff and visitors.
Key Highlights
- 48 parking spaces available
- About 0.6 mi from Exit 9 of I‑87
- Zoning allows office, outpatient medical services, and personal care uses
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
$96,867
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
6.92%
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%
$1,937,340
$1.9M
Cap Rate 7%
$1,383,814
$1.4M
Cap Rate 9%
$1,076,300
$1.1M
Market Conditions
NOI Build-Up for 7,161 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
$154.7K $21.60/SF
− Vacancy
−$25.5K −$3.56/SF
EGI
$129.2K $18.04/SF
− OpEx
−$32.3K −$4.51/SF
NOI
$96.9K $13.53/SF
Area
Saratoga County, NY
Vacancy
16.50%
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%
$1,937,340
Cap Rate 7%
$1,383,814
Cap Rate 9%
$1,076,300
Alternative Uses
Best Use
Office B
$1.38M
$1.21M – $1.61M
NOI $96,867 @ 7.0% cap · market cap 6.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.14M
$1.88M – $2.50M
NOI $150,037 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,391
Businesses Nearby
Explore this area
Business Placement
Demographics for 12065, NY
43,893
Population
19,506
Households
2.3
Avg Household Size
42
Median Age
53%
College-Educated
95%
High-School Grad
35.1 sq mi
ZIP Area
1,251
Density / Sq Mi
$115,681
Median Household Income
$61,692
Median Earnings
$1,419
Median Rent
$356,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office and medical use building with 48 parking spaces and plenty of natural light.
Where is this office building located?
The property is located at 9 Old Plank Rd Clifton Park, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 48 parking spaces available; About 0.6 mi from Exit 9 of I‑87; Zoning allows office, outpatient medical services, and personal care uses
