Glens Falls Mixed-Use
For Sale
$935,000
144 Glen Street, Glens Falls, NY 12801
Three-story brick building with commercial and residential income potential.
Property Size6,552 SF
Price / SF$142.70
Days on Market161
Property Features for 144 Glen Street
General Information
Standard status
Active
Size
6,552 SF
Property subtype
Mixed Use
Building Details
Building Size
6,552 SF
Listing Agency:
Pyramidbrokerage
Listed By:
Pyramid Brokerage Albany
(518) 489-9199
Source:
Pyramidbrokerage
Added: Mar 27
Changed: Sep 3
Last Checked: Jul 16 at 1:50AM
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 Pyramidbrokerage
Investment Insights
Based on property information with market context.
Located in the heart of Glens Falls on Centennial Circle, this three-story brick building offers an investment opportunity with multiple income streams. The property features Domino's Pizza, a long-term tenant, occupying the first-floor commercial space. A newly converted and rented soho-style spacious loft apartment, featuring 16' ceilings, graces the second floor. An additional two-bedroom apartment rounds out the first floor's residential offerings. The third-floor residential unit is framed and roughed in, has plumbing and updated electrical, for additional planned living space, and presents a blank canvas for investors to create a fourth rental unit. The building showcases an iconic mural depicting Glens Falls and hot air balloons on its exterior, making it a recognized landmark in the community. This is the former historic Braydon and Chapman Music Building, blending historical significance with modern income-producing potential. The property size is 6552 square feet. With existing established rental incomes and room for expansion, this property represents a rare opportunity to own a piece of Glens Falls history while building an investment portfolio.
Key Highlights
- Prime location in the heart of Glens Falls on Centennial Circle.
- Multiple income streams from established commercial and residential rentals.
- Opportunity to create a fourth rental unit on the third floor.
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
$81,376
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
8.70%
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%
$1,627,520
$1.6M
Cap Rate 7%
$1,162,514
$1.2M
Cap Rate 9%
$904,178
$904.2K
Market Conditions
NOI Build-Up for 6,552 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
$141.5K $21.60/SF
− Vacancy
−$11.3K −$1.73/SF
EGI
$130.2K $19.87/SF
− OpEx
−$48.8K −$7.45/SF
NOI
$81.4K $12.42/SF
Area
Warren County, NY
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,627,520
Cap Rate 7%
$1,162,514
Cap Rate 9%
$904,178
Alternative Uses
Best Use
Mixed Use
$1.16M
$1.02M – $1.36M
NOI $81,376 @ 7.0% cap · market cap 8.70%
Second Best
Retail
$904.2K
$791.2K – $1.05M
NOI $63,292 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,278 @ 7.0% cap · market cap 14.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,246
Businesses Nearby
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
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story brick building with commercial and residential income potential.
Where is this mixed-use property located?
The property is located at 144 Glen Street Glens Falls, NY.
What is the asking price?
The asking price for this property is $935,000.
What are key features of this property?
This property features: Prime location in the heart of Glens Falls on Centennial Circle.; Multiple income streams from established commercial and residential rentals.; Opportunity to create a fourth rental unit on the third floor.
