Mixed-Use Building with
For Sale
$3,300,000
92 CONGRESS ST, Saratoga Springs, NY 12866
Ground-floor leases and private on-site parking support a flexible commercial configuration.
Property Size10,000 SF
Lot Size0.44 Acres
Price / SF$326.38
Days on Market64
Property Features for 92 CONGRESS ST
General Information
Standard status
Active
Size
10,000 SF
Total Parking Spaces
16
Lot size
0.44 Acres
Property subtype
Office
Zoning
T6
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$16,648
Amenities
Central Air
3
Metal
Parking.
16 Parking Spaces. Off Street, Paved Driveway, Private.
120x161
Landscaped.
Building Details
Year Built
2002
Buildings
1
Stories
2
Building Size
10,000 SF
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Julie & Co Realty LLC
(315) 863-2777
Listed By:
Amy Farchione-Sgromo · License #40SG0924936
(315) 863-2777
Source:
Xome
Added: Jun 29
Changed: Aug 29
Last Checked: Aug 30 at 3:42PM
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 Julie & Co Realty LLC
Investment Insights
Based on property information with market context.
Located at 92 Congress Street in Saratoga Springs, this mixed-use property was built in 2002 and includes a private parking lot with 16 spaces. The first floor is leased to Fat Paulie's Deli and Make a Wish, providing established commercial occupancy within the building.
The second floor comprises 5,000 SF and is currently used by the owner, who is open to a leaseback arrangement. This creates flexibility for an owner-user or a purchaser seeking to structure continued occupancy. The property occupies 0.44 acres in downtown Saratoga Springs and combines existing commercial tenancy, private parking, and a separately configured upper level.
The second floor comprises 5,000 SF and is currently used by the owner, who is open to a leaseback arrangement. This creates flexibility for an owner-user or a purchaser seeking to structure continued occupancy. The property occupies 0.44 acres in downtown Saratoga Springs and combines existing commercial tenancy, private parking, and a separately configured upper level.
Key Highlights
- 0.44‑acre mixed‑use property at 92 Congress Street, Saratoga Springs, NY 12866
- Private parking lot with 16 parking spaces
- First floor leased to Fat Paulie's Deli and Make a Wish
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
$136,771
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
4.14%
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%
$2,735,420
$2.7M
Cap Rate 7%
$1,953,871
$2.0M
Cap Rate 9%
$1,519,678
$1.5M
Market Conditions
NOI Build-Up for 10,111 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
$218.4K $21.60/SF
− Vacancy
−$36.0K −$3.56/SF
EGI
$182.4K $18.04/SF
− OpEx
−$45.6K −$4.51/SF
NOI
$136.8K $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%
$2,735,420
Cap Rate 7%
$1,953,871
Cap Rate 9%
$1,519,678
Alternative Uses
Best Use
Office B
$1.95M
$1.71M – $2.28M
NOI $136,771 @ 7.0% cap · market cap 4.14%
Second Best
Mixed Use
$1.75M
$1.54M – $2.05M
NOI $122,849 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$3.03M
$2.65M – $3.53M
NOI $211,846 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,793
Businesses Nearby
Explore this area
Business Placement
Demographics for 12866, NY
40,355
Population
20,462
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
95%
High-School Grad
64.3 sq mi
ZIP Area
628
Density / Sq Mi
$98,374
Median Household Income
$53,265
Median Earnings
$1,460
Median Rent
$419,200
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?
Mixed-use property - Ground-floor leases and private on-site parking support a flexible commercial configuration.
Where is this mixed-use property located?
The property is located at 92 CONGRESS ST Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 0.44‑acre mixed‑use property at 92 Congress Street, Saratoga Springs, NY 12866; Private parking lot with 16 parking spaces; First floor leased to Fat Paulie's Deli and Make a Wish
