Saratoga Springs Development Site — Sale in Saratoga Springs, NY
- Price: Contact for price
- Listing type: For sale
- Asset type: Business
- Location: Saratoga Springs, NY 12866
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Description
Marcus & Millichap is pleased to present this compelling opportunity to develop a senior living community on a 9-acre site in Saratoga Springs, NY, within the Albany MSA. The location benefits from strong market fundamentals, high barriers to entry, and favorable demographic and demand trends. Saratoga Springs is a well-established retirement and lifestyle destination, offering a vibrant mix of dining, cultural amenities, and entertainment. The site is strategically positioned adjacent to the 110-unit Summit at Saratoga Active Adult community, creating a built-in pipeline of prospective residents transitioning into higher levels of care. Market conditions strongly support new development. Senior housing occupancy rates are exceptionally high, with the Albany MSA at 95.2% and Saratoga Springs assisted living occupancy reaching 97.6% as of Q4 2025. Additionally, the competitive landscape is characterized by aging inventory, with no newly delivered properties since 2016, and virtually no new supply in the pipeline—only one 91-unit project planned across the broader MSA (2.3% inventory growth). Rental rates in the Saratoga Springs submarket exceed Albany MSA averages, with assisted living averaging $7,415 and memory care $8,620, indicating strong revenue potential. The site is well-suited for an assisted living and memory care community that can capture unmet demand, particularly from the adjacent active adult population. From a development standpoint, the project benefits from prior approvals for 85 units, suggesting a streamlined entitlement process. A recent density study supports a larger-scale community of 129 units across a three-story, 128,880 square foot building. Financial projections indicate an attractive investment profile, with an estimated internal rate of return (IRR) of 29% and a development yield of 11%, positioning the opportunity as a high-performing addition to a real estate investment portfolio. Investment Highlights: • Development Parcel for Assis
Market Context
This commercial property in Saratoga Springs, NY is listed for sale. Compare it against other commercial property listings for sale in Saratoga Springs, NY — view the full market.
Contact
- Turk Turkiewicz
- John Horowitz · (212) 430-5100
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