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    765 Saratoga Rd Gansevoort, NY 12831

    For Sale
    $950,000

    17 Units, 11.52% Cap Rate, High Occupancy

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a well-maintained 17-unit mobile home park situated on 2.56 acres in desirable Gansevoort, New York. Boasting 100% occupancy, the property generates a strong net operating income (NOI) of $109,439, translating to an attractive 11.52% capitalization rate. Pro forma projections indicate an even higher NOI of $112,037 and a cap rate of 11.79%. The park comprises a mix of 10 park-owned homes, a smaller house, and 6 tenant-owned homes, offering diverse income streams. Conveniently located just 4.7 miles from Skidmore College, 5 miles from Saratoga Springs City Center, 5.4 miles from the Saratoga Race Course, 5.7 miles from the Saratoga Regional YMCA, and 1.8 miles from McGregor Links Country Club, the property benefits from strong demand and a prime location within Saratoga County. The park is professionally managed, ensuring efficient operations and consistent revenue generation. This is a rare opportunity to acquire a high-performing mobile home park with significant upside potential in a thriving market. The asking price is $950,000. The property's address is 765 Saratoga Rd, Gansevoort, NY 12831.

    Property Features for 765 Saratoga Rd

    General Information

    Property type
    Multifamily properties
    Class
    C
    Lot Size
    111,514 SF

    Building Details

    Units
    17

    HighLights

    • $950,000 asking price for a 17‑unit mobile home park.
    • 11.52% current cap rate, projected to increase to 11.79%.
    • 100% occupancy with a current NOI of $109,439, projected to reach $112,037.
    • Located on 2.56 acres in Gansevoort, NY, Saratoga County.
    • Conveniently located near Skidmore College, Saratoga Springs, Saratoga Race Course, and Saratoga Regional YMCA.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Pleasant Valley Mobile Home Park

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Auto Repair Shop Hotel & Motel Auto Parts Store Daycare Center Car Rental Assisted Living Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gansevoort
    County
    Saratoga
    State
    New York
    Longitude
    -73.7640922
    Latitude
    43.1483022

    Nearby Comparable

    • $950,000

      Saratoga County Income Property

      2.56 acre property with 17 units for sale.
      765 Saratoga Rd, Gansevoort, NY 12831
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    • $449,900
      3.26 Acres

      Wilton Mixed-Use Property, 3.26 Acres

      Prime Wilton location, mixed-use potential. Excellent investment opportunity.
      711 Saratoga Rd, Wilton, NY 12831
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    • $449,900
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      Development Opportunity on Route 9

      Large property on Route 9 with development potential.
      711 Saratoga Rd, Gansevoort, NY 12831
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    • $595,000

      Prime Land on Saratoga Road

      3 +/- acres of land in developing Rt. 9 area.
      645 Saratoga Rd, Wilton, NY 12831
      View Details

    Nearby Similar for Sale

    • $1,800,000
      13,334 SF

      Warehouse/Flex Buildings on 2.6 Acres

      Three buildings totaling 13,344 SF on approximately 2.6 acres.
      10 Commerce Park Dr, Gansevoort, NY 12831
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    • $650,000
      1,500 SF

      Freestanding Building on Route 9

      Freestanding building suitable for retail, services, or office use.
      1288 Saratoga Rd, Gansevoort, NY 12831
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    • $950,000

      Saratoga County Income Property

      2.56 acre property with 17 units for sale.
      765 Saratoga Rd, Gansevoort, NY 12831
      View Details
    • $495,000
      1,500 SF

      Gansevoort Retail Building - $495K

      Prime QSR/Fast Food Location, Vacant, 1500 SF
      1288 Saratoga Rd, Gansevoort, NY 12831
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    FAQs

    What type of property is this?
    Multifamily property - 17 Units, 11.52% Cap Rate, High Occupancy
    Where is this multifamily property located?
    The property is located at 765 Saratoga Rd Gansevoort, NY.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: $950,000 asking price for a 17-unit mobile home park.; 11.52% current cap rate, projected to increase to 11.79%.; 100% occupancy with a current NOI of $109,439, projected to reach $112,037.
    Request Owner's contact information
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    Gansevoort, NY 12831
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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
    765 Saratoga Rd Gansevoort, NY 12831
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