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

    8 Medical Park Dr Malta, NY 12020-5050

    • Office buildings
    • 23,351 SF
    • 127.22 lot acres
    OFF-MARKET
    Value Estimations
    $3,825,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3695202
    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. Robert Halbig / Family Practice Physician / Practitioner Service Location
    • Saratoga Hospital Medical Group Primary Care - Malta / Medical Clinic
    • Saratoga Hospital Medical Group - Pulmonology and Sleep Medicine at Malta / Sleep Clinic
    • Santosh Vaghela, MD / Pulmonologist
    • Hung Nguyen, MD / Pulmonologist

    Property Details for 8 Medical Park Dr

    Year built
    2017
    Lot size
    127.22 lot acres
    Property size
    23,351 SF
    Zone code
    PDD
    Property type
    Office buildings
    APN
    414089 229.-2-102
    APU
    4140892292102

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,615,000
      6.5%
      $5,185,000
      7%
      $4,815,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,813,000
      Market price range: $438k - $2.81M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,650,000
      Current use
      RESTAURANT
      $6,240,000
      Change: +34% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $3,755,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Malta
    County
    Saratoga
    State
    New York
    Longitude
    -73.8063
    Latitude
    42.9758
    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
    $4,387,100
    $2,062,900
    $6,450,000
    -
    $4,387,100
    $2,062,900
    $6,450,000

    Comparable in this City

    • Value Estimation
      $9,550,000
      97,640 SF

      40 Mcmaster St

      OFFICE BUILDING • 97,640 SF
      40 Mcmaster St, Ballston Spa, NY 12020-1990
      View Details
    • Value Estimation
      $2,405,000
      19,137 SF

      2903 Rte 9th 9

      OFFICE BUILDING • 19,137 SF
      2903 Rte 9th 9, Malta, NY 12020
      View Details
    • Value Estimation
      $2,915,000
      19,972 SF

      2 Bayberry Dr

      OFFICE BUILDING • 19,972 SF
      2 Bayberry Dr, Malta, NY 12020-6352
      View Details
    • Value Estimation
      $920,000
      9,120 SF

      31 Bath St, Unit 39

      OFFICE BUILDING • 9,120 SF
      31 Bath St, Ballston Spa, NY 12020-1704
      View Details
    • Value Estimation
      $1,810,000
      17,000 SF

      11 Old Stonebreak Rd

      OFFICE BUILDING • 17,000 SF
      11 Old Stonebreak Rd, Ballston Spa, NY 12020-4900
      View Details
    • Value Estimation
      $1,745,000
      10,700 SF

      100 Saratoga Vlg Blvd

      PROFESSIONAL BUILDING • 10,700 SF
      100 Saratoga Vlg Blvd, Malta, NY 12020-3737
      View Details

    Similar Nearby for Sale

    • $5,900,000
      28,036 SF

      Medical/Professional Building Near I-87

      26,000+ SF medical/professional building in park-like setting near I-87.
      2388 Us-9, Malta, NY 12020
      View Details
    • $759,000
      8,640 SF

      Versatile Mixed-Use Building For Sale

      Commercial building with apartments, showroom, warehouse, office, and parking.
      1118 Middleline Rd, Ballston Spa, NY 12020
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    • $200,000

      Malta Residential Land - 26 Acres

      Build Your Dream Home in Malta, NY
      10 Damascus Way, Malta, NY 12020
      View Details
    • $599,000

      Route 9 Commercial Building, Malta NY

      Prime Malta location, 30,000 SF potential.
      2782 A St, Ballston Spa, NY 12020
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    • $3,400,000
      128.00 Acres

      Prime Commercial Land Route 9

      Prime commercial vacant land on Route 9 in Saratoga County.
      2354-RtR S 9, Malta, NY 12020
      View Details
    • $650,000
      3.00 Acres

      Land with Tranquil Saratoga Views

      3-acre land in Malta, NY, with foundation and potential.
      2130 Rowley Rd, Malta, NY 12020
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    Similar Nearby for Lease

    • $18 SF/Yr
      2,400 SF

      Prime Luther Forest Office/Industrial

      2,400 SF Office, Warehouse, Storage
      2 Old Stonebreak Rd, Ballston Spa, NY 12020
      View Details
    • $18 SF/Yr
      19,137 SF

      Renovated Office Space Available

      Newly renovated +/- 750 SF office space with private offices.
      2903 Rte, Ballston Spa, NY 12020
      View Details
    • $1.00 SF/Yr

      Office and Warehouse Space Available

      Office and warehouse suites for rent in Ballston Spa.
      107 Hermes Rd, Ballston Spa, NY 12020
      View Details
    • $11 SF/Yr
      108,285 SF

      Malta Executive Office Space

      Class A Office Suites, Flexible Lease Terms
      107 Hermes Rd, Malta, NY 12020
      View Details
    • Contact for pricing
      34,140 SF

      Malta, NY Office Space for Lease

      Prime Route 9 location, 4,430 sq ft available.
      2452 Us-9, Malta, NY 12020
      View Details
    • $1.00 SF/Yr
      27,425 SF

      Mixed-Use Building with Existing Approvals

      Two-story mixed-use building with retail and office space for rent.
      10 State Farm Pl, Ballston Spa, NY 12020
      View Details
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    8 Medical Park Dr
    Malta, NY 12020-5050
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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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