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

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. It has been on the market for 100 days. Compare it against other commercial property listings for sale in Saratoga Springs, NY — view the full market.

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