A cost-effective millimeter-wave measurement setup for narrowband path loss and angle-of-arrival measurements is presented in this paper. The setup consists of ubiquitous radio-frequency lab equipment and additional low-cost components. An algorithm is developed, which improves the measurement accuracy and reduces the required measurement time. An uncertainty analysis is performed, including a noise analysis, amplifier linearity, antenna misalignment and general system impairments. A theoretical model of the received signal plus noise is developed, which is used in Monte Carlo simulations to show the impact of snapshot averaging on the uncertainty. The estimated combined uncertainty with a 95.45% confidence level is 1.1 dB at the maximum measurable path loss and 0.3 dB in the case of low path loss, where the uncertainty due to receiver noise is negligible. The measurement setup is used in outdoor specular building reflection measurements at 24.00–24.25 GHz. The measured single-building reflections show a 1–9 dB excess loss compared to the free-space path loss. The measured excess loss is 9–20 dB for double-building reflections. These results indicate that buildings could potentially be used as effective millimeter-wave specular reflectors to extend millimeter-wave coverage.