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    81-83 Canal St Fort Plain, NY 13339

    Sponsored
    Picture of Mixed-use properties at Canal St 81-83, Fort Plain, NY
    For Sale
    $725,000

    COMMERCIAL - Fort Plain, NY

    Lot size:
    0.16 Acres
    Days on Market:
    86
    Last Refresh:
    Jan 31 at 3:06 am

    Property Features for 81-83 Canal St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Mixed
    APN
    46.46-1-21 & 46.46-1-46
    Parking
    8
    Lot size
    0.16 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Building materials
    Brick

    We can help!

    Listing Contact
    Joseph Legnard
    Joseph Legnard

    Berkshire Hathaway HomeServices Blake, REALTORS (518) 935-2555

    Listing agent Joseph L Legnard (518) 232-0697 License #10301211562

    Listing date Nov 7, 2025

    MLS# 202528455

    Copyright © 2025 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.

    Learn more

    Property Insight Report

    Overview

    Historic Mixed-Use Jewel in Fort Plain

    This historic property, a cornerstone of the Fort Plain community, was built in 1835 and owned by the same family for over a century. This architectural treasure of the Erie Canal era has been meticulously maintained and preserved. The iconic clock tower, commissioned and still cared for by the Town of Fort Plain, crowns this building. Originally constructed as the Montgomery Hall Hotel to serve canal builders, this building has also housed the Farmers and Merchants Bank, a post office, and a Masonic Temple. Interior craftsmanship is evident in the mahogany doors and woodwork, ornate bannisters, and decorative ceilings and entryways. Modern updates include a rebuilt furnace/boiler (2013), new electrical systems and separate meters, and energy-efficient double-pane thermal windows. The property includes an 8-car parking lot on an adjacent parcel. It features two storefronts on the ground level and four apartments above. The lot size is 0.16 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Plain
    County
    Montgomery
    State
    New York
    Longitude
    -74.623857
    Latitude
    42.931957

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    FAQs

    What type of property is this?
    Mixed-use property - Landmark property with storefronts, apartments, and rich history.
    Where is this mixed-use property located?
    The property is located at 81-83 Canal St Fort Plain, NY.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: - Historic Landmark: Built in 1835, this iconic property is a cornerstone of the Fort Plain community and a true architectural treasure of the Erie Canal era.; - Income Potential: Features two ground-level storefronts and four apartments, offering immediate rental income opportunities.; - Meticulously Maintained: Preserved throughout generations with modern updates, including a rebuilt furnace/boiler (2013), new electrical systems, and energy-efficient windows.
    (518) 232-0697
    Request Owner's contact information
    81-83 Canal St Fort Plain, NY 13339
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    Fort Plain, NY 13339
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    81-83 Canal St Fort Plain, NY 13339
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    We can help!
    Listing Contact
    Joseph Legnard
    Joseph Legnard
    Real Estate License ID: 10301211562
    (518) 232-0697
    Learn more
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