Spacious Office Building in Glens
For Sale
$469,000
144 South Street #NY, Glens Falls, NY 12801
Well-constructed office building with prime location and many amenities.
Property Size1,900 SF
Lot Size0.34 Acres
Price / SF$246.84
Days on Market156
Property Features for 144 South Street #NY
General Information
Standard status
Active
Size
1,900 SF
Lot size
0.34 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,594
Amenities
Central air
Corner Lot
Accessible Approach with Ramp
Accessible Doors
Accessible Hallway(s)
Accessible Sidewalks
Accessible Transportation or Bus
Carpet Flooring
Central Air Cooling
Composition Roof
Customized Wheelchair Accessible
Landscaped
Level
Natural Gas Heating
Off Street
Paved
Road Frontage
Sprinklers In Front
Sprinklers In Rear
Tile Flooring
Vinyl Flooring
Building Details
Year Built
2002
Listing Agency:
SCHERMERHORN REALTY GROUP LLC
(518) 470-3131
Listed By:
PATRICIA RULAND
Source:
Corcoran
Added: Mar 18
Changed: Aug 17
Last Checked: Aug 20 at 6:30AM
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 SCHERMERHORN REALTY GROUP LLC
Investment Insights
Based on property information with market context.
This 1,900-square-foot commercial property in downtown Glens Falls presents an excellent opportunity for medical, dental, lab, or general office use. The well-constructed, spacious office building is situated in a prime location and includes a variety of amenities. The property is suitable for various business operations and can be sold fully furnished.
Key Highlights
- Prime downtown Glens Falls location
- Versatile commercial space suitable for medical, dental, lab, or office use
- Spacious, well‑constructed office building
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
$29,412
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
6.27%
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%
$588,240
$588.2K
Cap Rate 7%
$420,171
$420.2K
Cap Rate 9%
$326,800
$326.8K
Market Conditions
NOI Build-Up for 1,900 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
$45.6K $24.00/SF
− Vacancy
−$6.4K −$3.36/SF
EGI
$39.2K $20.64/SF
− OpEx
−$9.8K −$5.16/SF
NOI
$29.4K $15.48/SF
Area
Warren County, NY
Vacancy
14.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$588,240
Cap Rate 7%
$420,171
Cap Rate 9%
$326,800
Alternative Uses
Best Use
Office B
$420.2K
$367.7K – $490.2K
NOI $29,412 @ 7.0% cap · market cap 6.27%
Second Best
Healthcare Medical
$367.3K
$321.4K – $428.5K
NOI $25,712 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$568.7K
$497.6K – $663.5K
NOI $39,809 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,871
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
Vacancy Rate% for Office 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?
Medical Office Space - Well-constructed office building with prime location and many amenities.
Where is this medical office space located?
The property is located at 144 South Street #NY Glens Falls, NY.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Prime downtown Glens Falls location; Versatile commercial space suitable for medical, dental, lab, or office use; Spacious, well‑constructed office building
