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

    489 Broadway Saratoga Springs, NY 12866-6738

    • Investment properties
    • 4,421 SF
    • 0.10 lot acres
    OFF-MARKET
    Last Sale
    Nov 16, 2020
    $995,000
    Value Estimations
    $960,000
    Show details
    Cap Rate Potential
    4.6%
    Investment properties
    Location Intelligence
    Property ID
    US63-5999769
    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

    • Jesse Fowler Tattoos / Tattoo & Piercing Shop
    • DIVE (Saratoga - Formerly Pint Sized Same Staff Same Stuff!) / Bar & Pub
    • Columbia Cabinets / Hardware & Home Improvement / Furniture & Home Goods
    • Staccato Barre / Gym & Fitness Center
    • Intrinsic Tattoo LLC / Tattoo & Piercing Shop

    Property Details for 489 Broadway

    Year built
    1940
    Lot size
    0.10 lot acres
    Property size
    4,421 SF
    Zone code
    C1
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    411501 165.51-3-21
    APU
    41150116551321

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,165,000
      ML approach
      $1,105,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $895,000
      6.5%
      $825,000
      7%
      $765,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $685,000
      Market price range: $236k - $886k

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

    Location Insight

    • Map
    • Local Demand
    City
    Saratoga Springs
    County
    Saratoga
    State
    New York
    Longitude
    -73.7851
    Latitude
    43.0838
    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
    $117,800
    $513,500
    $631,300
    -
    $226,538
    $987,500
    $1,214,038

    Comparable in this City

    • Value Estimation
      $1,185,000
      6,080 SF

      404 Broadway

      OFFICE/RESIDENTIAL (MIXED USE) • 6,080 SF
      404 Broadway, Saratoga Springs, NY 12866-3108
      View Details
    • Value Estimation
      $7,005,000
      53,327 SF

      504 Broadway

      OFFICE/RESIDENTIAL (MIXED USE) • 53,327 SF
      504 Broadway, Saratoga Springs, NY 12866
      View Details
    • Value Estimation
      $4,185,000
      23,920 SF

      338 Broadway, Unit 346

      OFFICE/RESIDENTIAL (MIXED USE) • 23,920 SF
      338 Broadway, Saratoga Springs, NY 12866-3110
      View Details
    • Value Estimation
      $3,020,000
      22,092 SF

      437 Broadway, Unit 443

      OFFICE/RESIDENTIAL (MIXED USE) • 22,092 SF
      437 Broadway, Saratoga Springs, NY 12866-2203
      View Details
    • Value Estimation
      $2,085,000
      15,554 SF

      16 Caroline St

      OFFICE/RESIDENTIAL (MIXED USE) • 15,554 SF
      16 Caroline St, Saratoga Springs, NY 12866-2448
      View Details
    • Value Estimation
      $3,230,000
      24,237 SF

      42 Phila St

      OFFICE/RESIDENTIAL (MIXED USE) • 24,237 SF
      42 Phila St, Saratoga Springs, NY 12866-3269
      View Details

    Similar Nearby for Sale

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      Mixed-use property in Saratoga Springs' vibrant Urban Core District.
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      Corner lot with mixed-use potential near Broadway.
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      Mixed-Use Building with Parking Lot

      Mixed-use building with parking in Saratoga Springs, NY.
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      1500 SF brick building in prime downtown location.
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    Similar Nearby for Lease

    • $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
    • $1.00 SF/Yr
      36,192 SF

      Saratoga Springs Medical Office Suite

      Move-in ready medical suite near Saratoga Hospital.
      6 Care Ln, Saratoga Springs, NY 12866
      View Details
    • $2,500 /Mo
      860 SF

      Furnished Condo Near Downtown Saratoga

      Furnished 2-bedroom condo available for a 9-month rental.
      77 Van Dam St, 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
    • $3,605 /Mo

      Downtown Saratoga Springs Office Space

      Versatile office space in downtown Saratoga Springs, available February 2026.
      58 Church St, Saratoga Springs, NY 12866
      View Details
    • $25 SF/Yr
      17,000 SF

      Prime Saratoga Springs Land Parcel

      Land parcel available for a build-to-suit office building.
      133 Hamilton St, Saratoga Springs, NY 12866
      View Details
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    489 Broadway
    Saratoga Springs, NY 12866-6738
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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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