7 Union StBallston Spa, NY 12020

Property Details for 7 Union St

Year built

1968

Lot size

0.26 AC

Property size (Sq ft)

2,538 SF

Zone code

R-1

Property type

Investment properties

Property subtype

Live-work space

APN

414201 203.72-2-15

APU

41420120372215

Description

This exceptional 2,538 square foot office building in Ballston Spa, NY, presents a unique sale-leaseback opportunity. Located at 7 Union Street, this single-story, 1968-constructed building sits on a 0.26-acre lot and is zoned for commercial use. The property features two units, currently 100% occupied by multiple tenants under a multi-tenant lease. The asking price is $450,000, translating to $177.30 per square foot. The property's parcel number is 203.72-2-15. This sale includes a proposed 5-year leaseback agreement, providing a secure income stream for the buyer. The building has undergone recent renovations, enhancing its appeal and functionality. The property's versatility makes it suitable for various office uses, including executive, medical, and traditional office spaces. This is an excellent investment opportunity for those seeking a stable, income-generating asset in a desirable location. The building's single-story design and convenient location in Saratoga County offer ease of access and operational efficiency. This sale-leaseback arrangement offers a compelling blend of immediate return and long-term growth potential. Don't miss this chance to acquire a well-maintained, fully occupied commercial property in the thriving Ballston Spa market.

• CAP approach

  CAP return

  Valuation

  6%

  $630,479

  6.5%

  $581,980

  7%

  $540,410

• Comparable approach

  Method

  Valuation

  Relative Method

  $333,844

  Geo Method

  $331,615

• Alternative Use

  Use

  Valuation

  Residential

  $721,655

  Hospitality

  $661,032

  Educational

  $549,971

  Medical

  $568,886

  Retail

  $855,511

Location Insight

City

Ballston Spa

County

Saratoga

State

New York

Latitude

43.0117

Longitude

-73.8493

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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