Four-Unit Mixed-Use
For Sale
$299,000
55 Lawrence Street, Glens Falls, NY 12801
MultiFamily, Glens Falls, NY
Property Size2,888 SF
Lot Size0.05 Acres
Price / SF$103.53
Days on Market28
Property Features for 55 Lawrence Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
2
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 4, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 3
Parking
2
Parking features
Off Street
Patio and Porch features
Porch
Basement
Partial
High school
Glens Falls
Elementary school district
Glens Falls
Middle school district
Glens Falls
High school district
Glens Falls
Directions
From Dix Ave To Cooper to Lawrence
Standard status
Active
APN
520500 303.17-12-6
Size
2,888 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7491
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1950
Number of units
4
Flooring type
Wood
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
KW Platform · Keller Williams Realty
(518) 281-6808
Listed By:
Scott P Varley · License #30VA0727304
(518) 281-6808
Added: Aug 5
Changed: Aug 24
Last Checked: Sep 1 at 12:06PM
MLS# 202623274
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,888-square-foot mixed-use property contains four units: two storefronts and two apartments. Three of the four units have been recently renovated with updates to mechanical systems, finishes, and storefronts. The building dates to 1950 and includes wood flooring, forced-air heating, vinyl siding, an asphalt roof, a porch, and off-street parking.
Located at 55 Lawrence Street in downtown Glens Falls, the property benefits from a central setting within the city’s commercial core. Public water and public sewer serve the building. The 0.05-acre parcel combines retail and residential components in a compact property configuration.
Located at 55 Lawrence Street in downtown Glens Falls, the property benefits from a central setting within the city’s commercial core. Public water and public sewer serve the building. The 0.05-acre parcel combines retail and residential components in a compact property configuration.
Key Highlights
- Four‑unit layout with two storefronts and two apartments
- Three of four units recently renovated with mechanical, finish, and storefront updates
- 2,888 square feet on a 0.05‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,396
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$527,920
$527.9K
Cap Rate 7%
$377,086
$377.1K
Cap Rate 9%
$293,289
$293.3K
Market Conditions
NOI Build-Up for 2,888 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$40.5K $14.04/SF
− Vacancy
−$2.8K −$0.98/SF
EGI
$37.7K $13.06/SF
− OpEx
−$11.3K −$3.92/SF
NOI
$26.4K $9.14/SF
Area
Warren County, NY
Vacancy
7.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$527,920
Cap Rate 7%
$377,086
Cap Rate 9%
$293,289
Alternative Uses
Best Use
Mixed Use
$512.4K
$448.4K – $597.8K
NOI $35,869 @ 7.0% cap · market cap 12.00%
Second Best
Retail
$398.5K
$348.7K – $465.0K
NOI $27,898 @ 7.0% cap · market cap 9.33%
Theoretical Best
Office A
$864.4K
$756.4K – $1.01M
NOI $60,509 @ 7.0% cap · market cap 20.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,843
Businesses Nearby
Explore this area
Business Placement
Demographics for 12801, NY
14,850
Population
7,287
Households
2
Avg Household Size
40
Median Age
33%
College-Educated
90%
High-School Grad
3.8 sq mi
ZIP Area
3,908
Density / Sq Mi
$70,019
Median Household Income
$46,700
Median Earnings
$1,050
Median Rent
$196,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two storefronts and two apartments combine retail and residential space in downtown Glens Falls.
Where is this mixed-use property located?
The property is located at 55 Lawrence Street Glens Falls, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Four‑unit layout with two storefronts and two apartments; Three of four units recently renovated with mechanical, finish, and storefront updates; 2,888 square feet on a 0.05‑acre parcel
