Well-Kept Office Building Near
For Sale
$450,000
7 Murray Street, Glens Falls, NY 12801
2,448 sq. ft. office building with flexible layout.
Property Size2,448 SF
Price / SF$183.82
Days on Market441
Property Features for 7 Murray Street
General Information
Standard status
Active
Size
2,448 SF
Taxes and HOA fees
Annual Taxes
$5,409
Building Details
Year Built
1970
Listing Agency:
LEVACK REAL ESTATE INC
(518) 793-7600
Listed By:
R. MARK LEVACK
Source:
Corcoran
Added: May 17, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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
Investment Insights
Based on property information with market context.
This well-kept brick office building offers 2,448 sq. ft. of space. The single-story property is located minutes from Glens Falls Hospital. Its duel metered layout is easily divisible into two separate office spaces, suitable for professionals seeking flexibility or additional rent revenue. The property includes a 20-car private parking lot. Two furnaces serve left side right side zones. A full basement provides extra storage or possible expansion opportunities.
Key Highlights
- Prime location minutes from Glens Falls Hospital.
- Spacious 2,448 sq. ft. single‑story brick office building.
- Easily divisible layout ideal for two separate office spaces and rental income.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.8k | $24.00 |
| − Vacancy | −$8.2k | −$3.36 |
| EGI | $50.5k | $20.64 |
| − OpEx | −$12.6k | −$5.16 |
| NOI | $37.9k | $15.48 |
2,448 SF · lease $24.00/SF/yr · vacancy 14.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$541.4K
$473.7K – $631.6K
NOI $37,895 @ 7.0% cap · market cap 8.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$732.7K
$641.1K – $854.8K
NOI $51,290 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,835
Businesses Nearby
Under-served
Demand for This Use
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
Properties on Market for Office Spaces in Warren County
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Office space - 2,448 sq. ft. office building with flexible layout.
Where is this office space located?
The property is located at 7 Murray Street Glens Falls, NY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Prime location minutes from Glens Falls Hospital.; Spacious 2,448 sq. ft. single‑story brick office building.; Easily divisible layout ideal for two separate office spaces and rental income.
