426 Geyser RdBallston Spa, NY 12020

Property Details for 426 Geyser Rd

Year built

1972

Lot size

0.46 AC

Property size (Sq ft)

2,400 SF

Zone code

TC

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

414289 190.7-1-56

APU

4142891907156

Description

This exceptional 2,400 square foot special purpose property, located at 426 Geyser Road in Ballston Spa, Saratoga County, presents a unique investment opportunity. The single-tenant building sits on a spacious 20,038 square foot lot and is fully remodeled, offering a turnkey operation for a discerning buyer. The property boasts a comprehensive array of amenities, including 20 paved parking spaces with additional room for expansion behind the building. Inside, the salon/spa features two massage chairs, four tanning booths, three massage rooms, and three cutting stations each equipped with hydraulic chairs. Further enhancing its appeal are a sauna, a coin-operated automatic dog wash station, a laundry area, and a kitchen. All existing furnishings are included in the sale, providing a seamless transition for the new owner. Recent improvements include well testing and septic cleaning, ensuring the property is in excellent working order. The property is offered under a Triple Net Lease, meaning the tenant is responsible for all property taxes, maintenance, snow removal, utilities, and taxes. This presents a low-maintenance investment opportunity with significant potential for return. The property's prime location on Geyser Road in Ballston Spa adds to its desirability. This is a rare opportunity to acquire a fully operational and well-equipped salon and spa business in a highly sought-after location.

• CAP approach

  CAP return

  Valuation

  6%

  $739,284

  6.5%

  $682,416

  7%

  $633,672

• Comparable approach

  Method

  Valuation

  Relative Method

  $489,322

  Geo Method

  $486,055

• Alternative Use

  Use

  Valuation

  Residential

  $682,416

  Hospitality

  $625,090

  Educational

  $520,067

  Medical

  $537,953

  Retail

  $808,994

Location Insight

City

Ballston Spa

County

Saratoga

State

New York

Latitude

43.0474

Longitude

-73.8466

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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