Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Office Buildings at Lighted Intersection Title is generated by Realmo AI

    351 Bay Road, Queensbury, NY 12804

    View on Map
    Claim this Listing
    For Sale
    $424,000

    Two office buildings with excellent road exposure and ample parking.

    Type:Commercial
    Property size:
    1,751 SF
    Lot size:
    0.45 Acres
    Price / SF:
    $242/SF
    Added:
    Mar 26, 2025
    Days on Market:
    436
    Last Refresh:
    Apr 5 at 9:16 pm

    Property Features for 351 Bay Road

    General Information

    Standard status
    Active
    Size
    1,751 SF
    Lot size
    0.45 Acres
    Property subtype
    Commercial

    We can help!

    Listing Contact
    ROBERT L SEARS

    Listing agent ROBERT L SEARS License #30SE0274629

    Listing office BERKSHIRE HATHAWAY HOMESERVICES BLAKE, REALTORS

    Listing date Mar 26, 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 BERKSHIRE HATHAWAY HOMESERVICES BLAKE, REALTORS

    HighLights

    • Excellent road exposure at a busy 4‑way lighted intersection.
    • Commercial Intensive zoning.
    • Two buildings included: a 1751SF 1.5 story office building and a 1646 SF single story building.
    • Ample parking on a 0.45‑acre lot.
    • 102' frontage on Bay Rd. and 192' frontage on Glenwood Ave.
    • Handicapped accessible (351 Bay Rd).

    Overview

    The offering includes two buildings. The first, located at 351 Bay Rd, is a 1.5-story office building with 1751 square feet and a full basement. It features gas hot water heat, central air conditioning, and is handicapped accessible. The second building, located at 97 Glenwood Ave, is a 1646 square foot single-story structure with a small loft area for storage. The combined lot size is 0.45 acres and provides ample parking. The property has 102 feet of frontage on Bay Rd and 192 feet of frontage on Glenwood Ave. The zoning is Commercial Intensive. The property benefits from excellent road exposure at a busy four-way lighted intersection.

    Local 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 $42.0k $24.00
    − Vacancy −$5.9k −$3.36
    EGI $36.1k $20.64
    − OpEx −$9.0k −$5.16
    NOI $27.1k $15.48
    1,751 SF · lease $24.00/SF/yr · vacancy 14.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $387.2K
    $338.8K – $451.8K (±1% cap)
    NOI $27,105 @ 7.0% cap · market cap 6.39%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $524.1K
    $458.6K – $611.5K (±1% cap)
    NOI $36,687 @ 7.0% cap · market cap 8.65%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Adirondack Retirement Spec Financial Advisor

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Queensbury
    County
    Warren
    State
    New York
    Longitude
    -73.6534
    Latitude
    43.3336

    Nearby Similar for Sale

    • $899,000
      7,786 SF

      Professional Office with Basement Apartment

      Impeccably kept office with treatment rooms and basement apartment.
      16 Hunter Brook Lane, Queensbury, NY 12804
      View Details
    • $1,749,000
      3,472 SF

      Iconic Store on Lake George

      Profitable general store with rental cabins near Lake George.
      2660 State Route 9L, Queensbury, NY 12804
      View Details
    • $1,299,000
      2,612 SF

      Established Restaurant in High-Traffic Area

      High-visibility restaurant for sale in the Queensbury/Lake George region.
      982 State Route 149, Queensbury, NY 12804
      View Details
    • $499,999

      Established Salvage Yard on 10+ Acres

      Well-established salvage yard with new building on 10.21 acres.
      15 Pasco Avenue, Call Listing Agent, NY 12804
      View Details
    • $1,350,000
      20,000 SF

      Queensbury Mixed-Use Development Opportunity

      20,000 SF mixed-use building on 1.73 acres for sale.
      64 Main Street, Queensbury, NY 12804
      View Details
    • $499,999
      3,200 SF

      Established Salvage Yard on 10+ Acres

      10+ acre salvage yard with new 3,300 sq ft building.
      15 Pasco Avenue, Queensberry, NY 12804
      View Details
    • $424,000

      Two Commercial Buildings on Corner

      Two commercial buildings with excellent road exposure at lighted intersection.
      351 Bay Road, Queensbury, NY 12804
      View Details
    • $899,000
      7,786 SF

      Professional Office with Basement Apartment

      Well-maintained office with treatment rooms and basement apartment.
      16 Hunter Brook Lane, Queensbury, NY 12804
      View Details
    • $1,696,000

      Main Street Commercial Block

      Four-building commercial block with high traffic and multiple uses.
      47-53 Main Street, Queensbury, NY 12804
      View Details
    • $695,000
      12,600 SF

      Day Care Business Opportunity

      Turnkey day care business and building for sale.
      35 Homer Avenue, Queensbury, NY 12804
      View Details
    • $1,400,000
      32,207 SF

      Commercial Property on Busy Route

      High-exposure commercial property with showroom, office, warehouse, and service areas.
      643 Glen Street, Queensbury, NY 12801
      View Details
    • $499,999
      3,300 SF

      Commercial

      15 Pasco Avenue, Queensbury, NY 12804
      View Details

    FAQs

    What type of property is this?
    Office building - Two office buildings with excellent road exposure and ample parking.
    Where is this office building located?
    The property is located at 351 Bay Road Queensbury, NY.
    What is the asking price?
    The asking price for this property is $424,000.
    What are key features of this property?
    This property features: Excellent road exposure at a busy 4‑way lighted intersection.; Commercial Intensive zoning.; Two buildings included: a 1751SF 1.5 story office building and a 1646 SF single story building.
    (518) 793-6628
    We can help!
    Listing Contact
    ROBERT L SEARS
    Real Estate License ID: 30SE0274629
    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
    351 Bay Road, Queensbury, NY 12804
    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!