Saratoga Springs Chipotle Property on Ballston Ave. Sells for $3.6 Million

 

Written by AI under direction and editing from Saratoga Report publisher Dan De Federicis

 

The real estate occupied by the Chipotle restaurant at 12 Ballston Ave. at the corner of Hamilton St. in Saratoga Springs has been sold for approximately $3.6 million, according to a report by the Albany Business Review. The newly constructed restaurant opened in 2025 on the site of the former Starting Gate Bar & Grill and is leased to Chipotle under a long-term agreement.

According to the Business Review, the property was marketed as a net-lease investment, with Chipotle committed to a 15-year lease that generates roughly $200,000 in annual rent. The site occupies a prominent location on Ballston Avenue near downtown Saratoga Springs and serves both local residents and visitors to the city.

The sale reflects continued investor interest in properties leased to national restaurant chains, particularly in high-traffic markets such as Saratoga Springs. Additional details about the buyer and seller were reported by the Albany Business Review, which first reported the transaction.  Please note the Business Review article is subject to a paywall.