Leased 4-Unit Multifamily
New
For Sale
$325,000
100 Saratoga Avenue, South Glens Falls, NY 12803
Commercially zoned residential income property with all units leased and public water and sewer service.
Property Size2,520 SF
Price / SF$128.97
Days on Market4
Property Features for 100 Saratoga Avenue
General Information
Standard status
Active
Size
2,520 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Utilities to Site
Yes
Multifamily Units
4
Building Details
Year Built
1950
Listing Agency:
Realize Brokers
Listed By:
Spencer Bray
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Aug 31
Changed: Sep 2
Last Checked: Sep 2 at 2:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realize Brokers
Investment Insights
Based on property information with market context.
Built in 1950, this four-unit multifamily property offers 2,520 of reported property size within a commercially zoned setting. All four units are fully leased, providing an established occupancy profile for an income-producing residential asset. Public water and sewer serve the property.
The property is located at 100 Saratoga Avenue in South Glens Falls, near Family Dollar and Dunkin’. Its position in a high-visibility area places the building within an established commercial corridor while retaining its four-unit residential configuration.
The property is located at 100 Saratoga Avenue in South Glens Falls, near Family Dollar and Dunkin’. Its position in a high-visibility area places the building within an established commercial corridor while retaining its four-unit residential configuration.
Key Highlights
- Four‑unit multifamily property with all four units fully leased
- Commercial zoning supports the property’s location within a commercial corridor
- Built in 1950
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
$23,033
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
7.09%
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%
$460,660
$460.7K
Cap Rate 7%
$329,043
$329.0K
Cap Rate 9%
$255,922
$255.9K
Market Conditions
NOI Build-Up for 2,520 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
$35.4K $14.04/SF
− Vacancy
−$2.5K −$0.98/SF
EGI
$32.9K $13.06/SF
− OpEx
−$9.9K −$3.92/SF
NOI
$23.0K $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%
$460,660
Cap Rate 7%
$329,043
Cap Rate 9%
$255,922
Alternative Uses
Best Use
Multifamily LT 5
$329.0K
$287.9K – $383.9K
NOI $23,033 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$300.2K
$262.7K – $350.3K
NOI $21,015 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$754.3K
$660.0K – $880.0K
NOI $52,799 @ 7.0% cap · market cap 16.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
271
Businesses Nearby
Explore this area
Business Placement
Demographics for 12803, NY
8,990
Population
3,819
Households
2.4
Avg Household Size
43
Median Age
29%
College-Educated
92%
High-School Grad
6.1 sq mi
ZIP Area
1,474
Density / Sq Mi
$80,913
Median Household Income
$42,782
Median Earnings
$1,194
Median Rent
$222,600
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?
Quadplex - Commercially zoned residential income property with all units leased and public water and sewer service.
Where is this quadplex located?
The property is located at 100 Saratoga Avenue South Glens Falls, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Four‑unit multifamily property with all four units fully leased; Commercial zoning supports the property’s location within a commercial corridor; Built in 1950
