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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    232 Washington St Saratoga Springs, NY 12866

    • Turn key restaurants
    • 1,751 SF
    • 1.62 lot acres
    For Sale
    View listing
    $2,990,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3143144
    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.

    Current Use by Public Records

    • Pope's Italian Restaurant / Pizza Restaurant / Italian Restaurant

    Property Details for 232 Washington St

    Year built
    1984
    Lot size
    1.62 lot acres
    Property size
    1,751 SF
    Zone code
    C2A
    Property type
    Turn key restaurants
    APN
    411501 165.14-2-6
    APU
    4115011651426

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $325,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $283,000
      Market price range: $90.9k - $333k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $470,000
      Current use
      COMMERCIAL (GENERAL)
      $495,000
      Change: +6% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Saratoga Springs
    County
    Saratoga
    State
    New York
    Longitude
    -73.8001
    Latitude
    43.0794
    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
    $280,200
    $138,900
    $419,100
    -
    $538,846
    $267,116
    $805,962

    Comparable in this City

    • Value Estimation
      $405,000
      10,124 SF

      47 Excelsior Ave

      RESTAURANT • 10,124 SF
      47 Excelsior Ave, Saratoga Springs, NY 12866-2438
      View Details
    • Value Estimation
      $1,935,000
      4,830 SF

      468 Louden Rd

      RESTAURANT • 4,830 SF
      468 Louden Rd, Saratoga Springs, NY 12866-5333
      View Details
    • Value Estimation
      $370,000
      2,652 SF

      208 Broadway

      RESTAURANT • 2,652 SF
      208 Broadway, Saratoga Springs, NY 12866-4570
      View Details
    • Value Estimation
      $325,000
      7,154 SF

      129 Broadway

      RESTAURANT • 7,154 SF
      129 Broadway, Saratoga Springs, NY 12866-4532
      View Details
    • Value Estimation
      $395,000
      8,116 SF

      44 Lk Ave

      RESTAURANT • 8,116 SF
      44 Lk Ave, Saratoga Springs, NY 12866-2316
      View Details
    • Value Estimation
      $340,000
      6,096 SF

      3008 Rte 50

      RESTAURANT • 6,096 SF
      3008 Rte 50, Saratoga Springs, NY 12866-2903
      View Details

    Similar Nearby for Sale

    • $5,250,000
      5,684 SF

      Turnkey Saratoga Bar and Restaurant

      Destination bar and restaurant with real estate for sale.
      9 Gridley Ave, Saratoga Springs, NY 12866
      View Details
    • New
      $395,000
      Pending

      Profitable Restaurant in Saratoga Springs

      Turnkey restaurant for sale in downtown Saratoga Springs, NY.
      44 Lake Ave, Saratoga Springs, NY 12866
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    • $3,700,000
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      Historic Saratoga Springs Mixed-Use Property

      Unique investment opportunity in vibrant downtown Saratoga Springs.
      417 Broadway Saratoga Spg, Saratoga Springs, NY 12866
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    • $5,250,000
      5,684 SF

      Turnkey Saratoga Bar and Restaurant

      Destination bar and restaurant with real estate for sale.
      9 Gridley St, Saratoga Springs, NY 12866
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    • $3,499,999
      10,240 SF

      Historic Estate with Development Potential

      14-acre estate featuring a mansion with endless possibilities.
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      445 Church St, Saratoga Springs, NY 12866
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    Similar Nearby for Lease

    • New
      $5,172 /Mo
      Pending

      Turnkey Restaurant in Saratoga Springs

      Profitable restaurant opportunity in downtown Saratoga Springs with equipment and parking.
      44 Lake Ave, Saratoga Springs, NY 12866
      View Details
    • Contact for pricing
      5,950 SF

      Saratoga Springs Retail Space For Lease

      Prime Retail Space, 5,950 sq ft
      3060 Ny-50, Saratoga Springs, NY 12866
      View Details
    • $18 SF/Yr
      85,149 SF

      Restaurant Space Near Broadway

      Built-out restaurant space for lease near Broadway and business offices.
      2 West Ave, Saratoga Springs, NY 12866
      View Details
    • $5,000 /Mo
      2,202 SF

      Downtown Saratoga Springs Commercial Building

      Commercial building in downtown Saratoga Springs, suitable for retail or office.
      23-25 Division St, Saratoga Springs, NY 12866
      View Details
    • $1,465 /Mo
      36,875 SF

      Broadway Mixed-Use Commercial Space

      Mixed-use building with retail, offices, and apartments in Saratoga Springs.
      376 Broadway Unit L5/L6, Saratoga Springs, NY 12866
      View Details
    • $16,500 /Mo
      25,600 SF

      433 Broadway

      Office space • 25,600 SF
      433 Broadway, Saratoga Springs, NY 12866
      View Details
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    232 Washington St
    Saratoga Springs, NY 12866
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    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
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