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2272 Route 9 - 2272 Route 9 6.44 Acres of Commercial Land Offered at $3,080,000 in Malta, NY 12118
INVESTMENT HIGHLIGHTS
- Immediate Development
- Prime Location
EXECUTIVE SUMMARY
Rare opportunity to acquire a fully approved, shovel-ready 88-unit senior apartment development in Malta. All engineering, site plans, and permitting are complete, allowing immediate construction. The project features two 44-unit buildings with a balanced mix of one and two-bedroom layouts. Located directly on Route 9, the site benefits from excellent visibility, level topography, and daily traffic counts of 12,000–16,000 vehicles.
Projected stabilized rents support a cap rate in the 10% range, highlighting both the income potential and the long-term value of the asset. Public water and natural gas are at the road, and preliminary site work has already begun, saving valuable time and resources.
Adding to the rarity of this opportunity, Malta currently has a moratorium on new apartment development — but with these approvals already in place, you are fully cleared to move forward. This makes 2272 Route 9 one of the only projects in the market positioned for immediate success.
Projected stabilized rents support a cap rate in the 10% range, highlighting both the income potential and the long-term value of the asset. Public water and natural gas are at the road, and preliminary site work has already begun, saving valuable time and resources.
Adding to the rarity of this opportunity, Malta currently has a moratorium on new apartment development — but with these approvals already in place, you are fully cleared to move forward. This makes 2272 Route 9 one of the only projects in the market positioned for immediate success.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER AC |
|---|---|---|
| Gross Rental Income |
$2,534,400
|
$393,540.37
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$2,534,400
|
$393,540.37
|
| Taxes |
$125,000
|
$19,409.94
|
| Operating Expenses |
$339,152
|
$52,663.35
|
| Total Expenses |
$464,152
|
$72,073.29
|
| Net Operating Income |
$2,070,248
|
$321,467.08
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $2,534,400 |
| Annual Per AC | $393,540.37 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income | |
|---|---|
| Annual | $2,534,400 |
| Annual Per AC | $393,540.37 |
| Taxes | |
|---|---|
| Annual | $125,000 |
| Annual Per AC | $19,409.94 |
| Operating Expenses | |
|---|---|
| Annual | $339,152 |
| Annual Per AC | $52,663.35 |
| Total Expenses | |
|---|---|
| Annual | $464,152 |
| Annual Per AC | $72,073.29 |
| Net Operating Income | |
|---|---|
| Annual | $2,070,248 |
| Annual Per AC | $321,467.08 |
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Price | $3,080,000 | Lot Size | 6.44 AC |
| Price Per AC | $478,260.87 |
| Price | $3,080,000 |
| Price Per AC | $478,260.87 |
| Lot Size | 6.44 AC |
Prime Malta lot on busy Route 9 with 12k–16k daily traffic. Just minutes from I-87 Exit 12 and 15 minutes to Saratoga Springs. Level site with public water and natural gas at the road. Outstanding visibility, convenience, and growth potential.
DESCRIPTION
Level and build-ready, this Route 9 parcel features sandy loam soils with excellent drainage, cleared open ground, and utilities at the road. The stable soils and easy topography reduce site prep costs, making it an ideal setting for immediate development. Site of former "Starting Gate Cottages".
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2272 Route 9 - 2272 Route 9
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