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40 Excelsior Ave 8,299 SF Retail Building Saratoga Springs, NY 12866 $3,595,000 ($433.18/SF)
Investment Highlights
- 1.Located on the east side of town. 2. Within walking distance to town. 3. Corner lot with over 500' of frontage. 4. Versatile T-5 zoning.
- Close proximity to I-87
- Seller is offering a 2% co-broke fee.
Executive Summary
Prime 1.23 acre corner lot with over 500 ' of frontage offers high visibility in a commercial/residential T-5 transition zone. This would be perfect for a multi-story commercial condo apartment building. Offers close proximity to Northway and The Racetrack, while just a stroll to Broadway. The newly developed Saratoga Greenbelt Trail is expected to bring a large increase in pedestrian traffic. Can be subdivided. Owner will considerfinancing for a qualified buyer with $1 million down at an attractive rate at half the going commercial rate for up to 5 years. Terms negotiable.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
8,299 SF
Building Class
C
Year Built
1974
Price
$3,595,000
Price Per SF
$433.18
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
1.23 AC
Zoning
T5 - Transition Zone
Parking
50 Spaces (6.02 Spaces per 1,000 SF Leased)
Frontage
352’ on Excelsior Ave
Amenities
- Freeway Visibility
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 411501-166-029-0003-001-000-0000 | Improvements Assessment | $237,800 |
| Land Assessment | $437,200 | Total Assessment | $675,000 |
Property Taxes
Parcel Number
411501-166-029-0003-001-000-0000
Land Assessment
$437,200
Improvements Assessment
$237,800
Total Assessment
$675,000
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40 Excelsior Ave
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