Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    60 Railroad Pl Saratoga Springs, NY 12866

    • Office buildings
    • 55,580 SF
    • 0.33 lot acres
    For Lease
    View listing
    $27 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3418457
    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

    • Dr. Keimun Slaughter, MD / Physician / Medical Clinic
    • Saratoga Weddings / Wedding Service
    • Herzog Law Firm, P.C. / Law Firm
    • Lemery Greisler LLC / Law Firm
    • Saratoga Investment Solutions Inc. / Financial Advisor

    Property Details for 60 Railroad Pl

    Year built
    1995
    Lot size
    0.33 lot acres
    Property size
    55,580 SF
    Zone code
    C1
    Property type
    Office buildings
    APN
    411501 165.59-1-78.1
    APU
    411501165591781

    Description

    This exceptional five-story office building, located at 60 Railroad Place in the heart of Saratoga Springs, presents a unique opportunity. Boasting a total of 51,766 square feet, the property offers a highly visible corner location at the intersection of Railroad Place and Division Street, providing excellent accessibility and exposure. The building features convenient on-site parking for 149 vehicles, eliminating parking concerns for employees and visitors. Currently, a single-tenant occupancy of 1,672 square feet is available on the second floor. This space is bathed in natural light from numerous windows and includes a well-designed layout encompassing a reception area with storage, private offices, a dedicated conference area, and a functional kitchen. The building sits on a 0.33-acre lot within Saratoga County. The property's strategic location and amenities have attracted a diverse tenant base of established local, regional, and national businesses, underscoring its appeal and potential for continued success. This is an ideal opportunity for a business seeking a prominent and well-equipped office space in a thriving downtown setting. The building's size and features make it suitable for a variety of commercial uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,686,000
      Market price range: $6.12M - $16.1M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $8,935,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Saratoga Springs
    County
    Saratoga
    State
    New York
    Longitude
    -73.7877
    Latitude
    43.0816
    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
    $95,400
    $4,373,366
    $4,468,766
    -
    $183,462
    $8,410,319
    $8,593,781

    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

    • $2,799,000
      11,925 SF

      Versatile Medical Building in Saratoga

      11,925 SF medical building with flexible zoning.
      5 Care Ln, Saratoga Springs, NY 12866
      View Details
    • $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 on Broadway

      Well-maintained office building with flexible layout and ample parking.
      3303 Route 9, Saratoga Springs, NY 12866
      View Details
    • $859,000
      2,190 SF

      Saratoga Springs Commercial Condominium

      Commercial condominium with historic charm and modern amenities in Saratoga.
      48 Union Ave, Saratoga Springs, NY 12866
      View Details
    • $3,100,000
      18,075 SF

      Saratoga Springs Mixed-Use Investment

      Class A mixed-use building with offices, coffee shop, and gym.
      120 West Ave, Saratoga Springs, NY 12866
      View Details
    • $4,000,000
      10,000 SF

      Leased Office/Retail Saratoga Springs Location

      Fully leased office and retail building in Saratoga Springs, NY.
      92 Congress St, Saratoga Springs, NY 12866
      View Details

    Similar Nearby for Lease

    • $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 Unit, Saratoga Springs, NY 12866
      View Details
    • $27 SF/Yr
      51,766 SF

      Downtown Saratoga Springs Office Space

      Highly visible office space in downtown Saratoga Springs with parking.
      60 Railroad Pl, Saratoga Springs, NY 12866
      View Details
    • $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
    • $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
    • $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
    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.
    60 Railroad Pl
    Saratoga Springs, NY 12866
    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

    Google sign-in failed. Please try again or use another login method.