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

    500 Un Ave Saratoga Springs, NY 12866-6426

    • Hotels
    • 26,768 SF
    • 8.60 lot acres
    OFF-MARKET
    Last Sale
    Jan 13, 2023
    $4,800,000
    Value Estimations
    $4,790,000
    Show details
    Cap Rate Potential
    3.3%
    Hotels
    Location Intelligence
    Property ID
    US63-1189440
    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

    • Longfellows Hotel / Hotel

    Property Details for 500 Un Ave

    Year built
    1977
    Lot size
    8.60 lot acres
    Property size
    26,768 SF
    Zone code
    PUD
    Property type
    Hotels
    APN
    411589 180.-4-24
    APU
    411589180424

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,875,000
      ML approach
      $4,680,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,137,000
      Market price range: $3.90M - $7.89M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $5,995,000
      Current use
      COMMERCIAL (GENERAL)
      $7,585,000
      Change: +27% Conversion: Difficult
      RESTAURANT
      $7,155,000
      Change: +19% Conversion: Difficult
      OFFICE BUILDING
      $5,330,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Saratoga Springs
    County
    Saratoga
    State
    New York
    Longitude
    -73.7291
    Latitude
    43.0618
    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
    $389,000
    $2,716,500
    $3,105,500
    -
    $748,077
    $5,224,038
    $5,972,115

    Comparable in this City

    • Value Estimation
      $8,730,000
      100,453 SF

      11 Excelsior Ave

      HOTEL • 100,453 SF
      11 Excelsior Ave, Saratoga Springs, NY 12866-2438
      View Details
    • Value Estimation
      $14,295,000
      105,772 SF

      3368 Rte 9th 9

      HOTEL • 105,772 SF
      3368 Rte 9th 9, Saratoga Springs, NY 12866-6204
      View Details
    • Value Estimation
      $12,170,000
      171,370 SF

      86 Congress St

      HOTEL • 171,370 SF
      86 Congress St, Saratoga Springs, NY 12866-4102
      View Details
    • Value Estimation
      $5,775,000
      64,116 SF

      295 Excelsior Ave

      HOTEL • 64,116 SF
      295 Excelsior Ave, Saratoga Springs, NY 12866-8511
      View Details
    • Value Estimation
      $16,605,000
      173,482 SF

      534 Broadway

      HOTEL • 173,482 SF
      534 Broadway, Saratoga Springs, NY 12866-2209
      View Details
    • Value Estimation
      $9,435,000
      102,147 SF

      232 Broadway

      HOTEL • 102,147 SF
      232 Broadway, Saratoga Springs, NY 12866-4253
      View Details

    Similar Nearby for Sale

    • $2,250,000
      Pending

      Saratoga Springs Commercial Building For Sale

      Spacious commercial building with flexible floor plan and high visibility.
      610 Maple Ave, Saratoga Springs, NY 12866
      View Details
    • $1,200,000
      6,700 SF

      Historic Saratoga Springs Multi-Family Property

      Queen Anne-style home with carriage house, ideal for investment.
      182 Ballston Ave, Saratoga Springs, NY 12866
      View Details
    • New
      $1,200,000
      3.23 Acres

      Saratoga Lake Redevelopment Opportunity

      3.32 acres on Saratoga Lake shoreline for redevelopment.
      1192 Ny-9P, Saratoga Springs, NY 12866
      View Details
    • $3,499,999
      10,240 SF

      Historic Estate with Development Potential

      14-acre estate featuring a mansion with endless possibilities.
      2255 Ballston Ave, Saratoga Springs, NY 12866
      View Details
    • $1,200,000
      4,356 SF

      Historic Saratoga Springs Hospitality Property

      Queen Anne-style home with carriage house near Saratoga attractions.
      182 Ballston Ave, Saratoga Springs, NY 12866
      View Details
    • $2,950,000

      Land For Sale Saratoga Springs

      Land available for sale in Saratoga Springs, New York.
      230 West Ave, Saratoga Springs, NY 12866
      View Details

    Similar Nearby for Lease

    • $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
    • $28 SF/Yr
      11,629 SF

      Class A Saratoga Springs Office

      Three floors of office/retail space in downtown Saratoga Springs.
      327 Broadway, 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
    • $1,000 /Mo
      500 SF

      Downtown Saratoga Springs Office Space

      Prime downtown office space with private offices and conference room.
      178 Elm St, Saratoga Springs, NY 12866
      View Details
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    500 Un Ave
    Saratoga Springs, NY 12866-6426
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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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