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    Property profile & analytics

    65 Saratoga Rd Glenville, NY 12302

    • Office buildings
    • 6,620 SF
    • 1.45 lot acres
    For Lease
    View listing
    $23 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2658360
    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

    • Bova Engineering PLLC / Engineer

    Property Details for 65 Saratoga Rd

    Year built
    2023
    Lot size
    1.45 lot acres
    Property size
    6,620 SF
    Zone code
    CON
    Property type
    Office buildings
    APN
    422289 22.18-2-37.1
    APU
    42228922182371

    Description

    This exceptional commercial property, located at 65 Saratoga Road in Schenectady, NY, offers 10,548 square feet of newly constructed Class A office space within the Miracle View Professional Office Park. The property features two modern, two-story buildings totaling 12,704 square feet on a 1.45-acre lot (63,162 sq ft). Built in 2024, these buildings boast robust precast concrete floors and walls, ensuring superior quality and durability. Large windows and high ceilings create a bright and inviting atmosphere. The versatile floor plans are easily adaptable to various professional or retail uses. The space is offered in vanilla shell condition, allowing for complete customization to tenant specifications. Options range from 1,000 to 6,400 square feet. The property includes 35 total parking spaces and is conveniently located near Route 50. Zoned for Professional/Residential use, this property presents a unique opportunity in Schenectady County (APN: 22.18-2-37.1). The single-tenant occupancy provides flexibility and control. Lease rates are subject to change based on build-out requirements and square footage. This is a prime location for businesses seeking modern, high-quality office space in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Glenville
    County
    Schenectady
    State
    New York
    Longitude
    -73.9403
    Latitude
    42.8548
    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
    $145,000
    $498,500
    $643,500
    -
    $213,235
    $733,089
    $946,324

    Comparable in this City

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    • Value Estimation by Request
      6,016 SF

      375 Saratoga Rd

      OFFICE BUILDING • 6,016 SF
      375 Saratoga Rd, Schenectady, NY 12302-5205
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    • Value Estimation by Request
      2,490 SF

      463 Saratoga Rd

      PROFESSIONAL BUILDING • 2,490 SF
      463 Saratoga Rd, Glenville, NY 12302-5200
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    • Value Estimation by Request
      1,968 SF

      353 Saratoga Rd

      PROFESSIONAL BUILDING • 1,968 SF
      353 Saratoga Rd, Schenectady, NY 12302-5117
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    • Value Estimation by Request
      3,918 SF

      493 Saratoga Rd

      PROFESSIONAL BUILDING • 3,918 SF
      493 Saratoga Rd, Glenville, NY 12302-5429
      View Details
    • Value Estimation by Request
      2,912 SF

      34 Vley Rd

      PROFESSIONAL BUILDING • 2,912 SF
      34 Vley Rd, Schenectady, NY 12302-2131
      View Details

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    Similar Nearby for Lease

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      Medical Office Space Available

      First floor medical space available in premier building.
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    • $23 SF/Yr
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      Class A Office Space Available

      Newly constructed office space with customizable layout and expansion options.
      65 Saratoga Rd, Glenville, NY 12302
      View Details
    • $1.00 SF/Yr
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      First Floor Office Space Available

      Office space in park-like setting with high visibility and parking.
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      View Details
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    65 Saratoga Rd
    Glenville, NY 12302
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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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