Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    229 Washington St Saratoga Springs, NY 12866-5947
    Back to Search
    Property profile & analytics

    229 Washington St Saratoga Springs, NY 12866-5947

    View on Map
    • Office buildings
    • 3,960 SF
    • 0.48 lot acres
    Off-Market
    Property ID
    US63-1960737
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $575,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Air Pro Solutions / Big Box & Wholesale Store
    • New Horizons PC / Counselor
    • Kimberly Marks, LCSW / Foster Care Service / Social Service Agency
    • Tree Of Life Massage And Doula Services / Alternative Medicine Practice / Spa & Massage Center
    • Thomas Lindsay / Foster Care Service / Social Service Agency

    Property Details for 229 Washington St

    Year built
    1993
    Lot size
    0.48 lot acres
    Property size
    3,960 SF
    Zone code
    C2A
    Property type
    Office buildings
    APN
    411589 165.65-1-16
    APU
    41158916565116

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $762,000
      Market price range: $436k - $1.15M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $790,000
      Current use
      AUTO REPAIR, GARAGE
      $635,000
      Change: -19% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Saratoga Springs
    County
    Saratoga
    State
    New York
    Longitude
    -73.799
    Latitude
    43.0803
    CBSA code
    10580
    CBSA name
    ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $339,000
    $104,300
    $443,300
    -
    $651,923
    $200,577
    $852,500

    Comparable in this City

    • Value Estimation by Request
      0.01 Acres

      19 Railroad Pl

      OFFICE BUILDING • 0.01 Acres
      19 Railroad Pl, Saratoga Springs, NY 12866-2196
      View Details
    • Value Estimation
      $950,000
      5,593 SF

      297 Broadway

      OFFICE BUILDING • 5,593 SF
      297 Broadway, Saratoga Springs, NY 12866-4204
      View Details
    • Value Estimation
      $2,605,000
      21,850 SF

      4300 Rte 50

      OFFICE BUILDING • 21,850 SF
      4300 Rte 50, Saratoga Springs, NY 12866-2974
      View Details
    • Value Estimation
      $990,000
      5,591 SF

      236 Washington St

      PROFESSIONAL BUILDING • 5,591 SF
      236 Washington St, Saratoga Springs, NY 12866-5954
      View Details
    • Value Estimation
      $510,000
      10,700 SF

      3257 Rte 9us

      OFFICE BUILDING • 10,700 SF
      3257 Rte 9us, Saratoga Springs, NY 12866-6210
      View Details
    • Value Estimation
      $2,090,000
      17,084 SF

      135 Broadway

      OFFICE BUILDING • 17,084 SF
      135 Broadway, Saratoga Springs, NY 12866-4532
      View Details

    Similar Nearby for Sale

    • $1,299,000
      0.35 Acres

      Saratoga Springs Professional Office Building

      Professional office building near Saratoga Hospital and downtown.
      5 Wells St, Saratoga Springs, NY 12866
      View Details
    • $1,400,000
      3,847 SF

      Professional Office Building For Sale

      Well-maintained office building near downtown Saratoga Springs with flexible layout.
      3303 Route 9, Saratoga Springs, NY 12866
      View Details
    • $3,100,000
      18,075 SF

      Mixed-Use Building in Saratoga Springs

      Class A building with offices, coffee shop, and gym.
      120 Ave W, Saratoga Springs, NY 12866
      View Details
    • New
      $3,350,000
      15,756 SF

      Saratoga Springs Commercial Opportunity

      Versatile commercial space near Green Belt Trail, Saratoga Springs.
      167 High Rock Ave, Saratoga Springs, NY 12866
      View Details
    • $1,199,000

      Saratoga Springs Professional Office Building

      Professional office building near Saratoga Hospital and downtown Saratoga.
      5 Wells St, Saratoga Springs, NY 12866
      View Details
    • $850,000
      2,102 SF

      High-Profile Saratoga Springs Commercial Property

      Prime location near hospital and golf club with modern updates.
      290 Church St, Saratoga Springs, NY 12866
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr

      Redevelopment Opportunity in Saratoga Springs

      Build-to-suit office building in Saratoga Springs redevelopment area.
      153 S Broadway, Saratoga Springs, NY 12866
      View Details
    • $6,000 /Mo
      48,529 SF

      Renovated Office Space in Saratoga

      Luxury office space in historic Van Raalte Mill, Saratoga Springs.
      125 High Rock Ave, Saratoga Springs, NY 12866
      View Details
    • $28 SF/Yr
      105,000 SF

      Congress Park Centre Office Space

      Prime Saratoga Springs Executive Suites
      321 Broadway, Saratoga Springs, NY 12866
      View Details
    • $21 SF/Yr
      16,800 SF

      Commercial Units in Growing Corridor

      Versatile commercial spaces suitable for business, retail, and restaurant use.
      610 Maple Ave, Saratoga Springs, NY 12866
      View Details
    • $1,450 /Mo
      13,640 SF

      Renovated Office Space Near Downtown

      Charming office space in renovated school building, minutes from downtown.
      112 Spg St #304 Saratoga Spg, Saratoga Springs, NY 12866
      View Details
    • $1,250 /Mo
      1,372 SF

      Remodeled Commercial Space on Route 9

      Versatile commercial space in high-traffic Saratoga Springs location.
      460 Maple Ave, Saratoga Springs, NY 12866
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    229 Washington St
    Saratoga Springs, NY 12866-5947
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    229 Washington St, Saratoga Springs, NY, 12866
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!