Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    11 Murray Street Glens Falls, NY 12801

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $14 SF/Yr $7,624/Mo (calc)

    Medical office building near Glens Falls Hospital, suitable for conversion.

    Type:Commercial
    Property size:
    6,535 SF
    Lot size:
    0.90 Acres
    Added:
    Apr 19, 2025
    Days on Market:
    378
    Last Refresh:
    Apr 5 at 8:47 pm

    Property Features for 11 Murray Street

    General Information

    Standard status
    Active
    Size
    6,535 SF
    Lot size
    0.90 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1990

    We can help!

    Listing Contact
    R. MARK LEVACK

    Listing agent R. MARK LEVACK

    Listing office LEVACK REAL ESTATE INC

    Listing date Apr 19, 2025

    Source Corcoran

    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 LEVACK REAL ESTATE INC

    Overview

    Medical Office Building For Lease

    This well-constructed medical office building is located one block from Glens Falls Hospital and can be easily converted to general office or other commercial uses. The main steel girder construction allows for an open plan renovation. The property features private off-street parking and an EPDM rubber membrane roof. It is equipped with a large multi-phase electrical service and supports many commercially permitted uses. The building's location, with non-owned adjoining properties for sale, lends itself to potential larger redevelopment. The property has a size of 6535 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. David R. ... Physician Dr. Richard N. ... Physician Dr. David M. ... Physician Dr. Thomas A. Quaresima, ... Physician Dr. Daniel J. ... Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Similar Places Nearby

    • North Country Cat Hospital — 13 Main St, Queensbury, NY 12804

    Location Insight

    • Map
    • Local Demand
    City
    Glens Falls
    County
    Warren
    State
    New York
    Longitude
    -73.6516
    Latitude
    43.3044

    Nearby Similar for Lease

    • $15 SF/Yr

      Glens Falls Commercial Building

      Freestanding commercial building ideal for retail, medical, or office use.
      222 Dix Avenue, Glens Falls, NY 12801
      View Details
    • $4,500/Mo

      Turnkey Restaurant in Glens Falls

      Turnkey restaurant space available for lease in Glens Falls.
      162 Glen Street, Glens Falls, NY 12801
      View Details
    • $2,000/Mo

      Downtown Glens Falls Office Space

      Second-floor office space in historic Empire Theater Building.
      11 South Street #Suite 202, Glens Falls, NY 12801
      View Details
    • $1,750/Mo

      Historic Downtown Retail/Office Space

      Retail or office space in Glens Falls' Empire Theater.
      11 South Street #Suite 106, Glens Falls, NY 12801
      View Details
    • $10 SF/Yr

      Flex Warehouse Space on Dix

      5,400 SF flex/warehouse space with office component for lease.
      120 Dix Avenue, Glens Falls, NY, 12801
      View Details
    • $10 SF/Yr

      Medical/General Office Space Available

      Professional office space for lease near Glens Falls Hospital.
      45 Hudson Avenue, Glens Falls, NY 12801
      View Details
    • $15 SF/Yr

      Downtown Glens Falls Retail/Office Suite

      Retail/office suite in downtown Glens Falls with parking.
      71 Bay Street, Glens Falls, NY, 12801
      View Details
    • $15 SF/Yr

      Class A Office Suites Available

      Three Class A office suites available for lease.
      125 Broad Street, Glens Falls, NY 12801
      View Details
    • $15 SF/Yr

      Glens Falls Medical Office Building

      Medical office building near Glens Falls Hospital for lease.
      11 Murray Street, Glens Falls, NY 12801
      View Details
    • Contact for pricing

      Two-Story Office Building For Lease

      7,000 SF office building in Glens Falls, NY.
      454 Glen Street, Glens Falls, NY, 12801
      View Details
    • $14 SF/Yr

      Glens Falls Storefront Suites

      Prime commercial storefronts available in Glens Falls, New York.
      14 Hudson Avenue, Glens Falls, NY 12801
      View Details
    • $14 SF/Yr

      Class A Office Space Available

      Class A office space for rent in Glens Falls.
      333 Glen St, Glens Falls, NY, 12801-3666
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Medical office building near Glens Falls Hospital, suitable for conversion.
    Where is this medical office space located?
    The property is located at 11 Murray Street Glens Falls, NY.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: Prime location: Just one block from Glens Falls Hospital.; Conversion potential: Easily converted to general office or other commercial uses.; Renovation flexibility: Main steel girder construction allows for open plan renovation.
    (518) 793-7600
    We can help!
    Listing Contact
    R. MARK LEVACK
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    11 Murray Street, Glens Falls, NY 12801

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!