Turn-key Bed and Breakfast
For Sale
Contact for pricing
153 Bay St, Glens Falls, NY 12801
Successful bed and breakfast in Glens Falls near Adirondacks.
Property Size4,212 SF
Price / SF$225.31
Days on Market163
Property Features for 153 Bay St
General Information
Standard status
Active
Size
4,212 SF
Total Parking Spaces
8
Property subtype
Hospitality
Zoning
Commercial
Building Details
Year Built
1892
Year Renovated
2015
Buildings
1
Stories
2
Listing Agency:
Julie & Co Realty
(518) 542-0294
Listed By:
Erin Steinbach · License #NY10301217507
Source:
Crexi
Added: Mar 2
Changed: Aug 8
Last Checked: Aug 11 at 2:29PM
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 Julie & Co Realty
Investment Insights
Based on property information with market context.
This turn-key bed and breakfast inn is located in Glens Falls, nestled in the foothills of the Adirondacks, with proximity to Saratoga Springs and Lake George. The property features 6 spacious bedrooms, each with private ensuite bathrooms. An in-ground pool is available for guests. The property was completely renovated in 2015 with new electrical, plumbing, drywall, and HVAC systems, including 8 split units throughout. The sale includes all furniture and furnishings needed to begin operations immediately. The building has a size of 4,212 square feet. The property offers the opportunity to start a hospitality business in a prime location.
Key Highlights
- Turn‑key Bed and Breakfast Inn: Fully furnished and ready for immediate operation.
- Prime Location: Situated in Glens Falls, near the Adirondacks, Saratoga Springs, and Lake George.
- Six Spacious Bedrooms: Each bedroom includes a private ensuite bathroom.
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
$32,411
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
3.42%
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%
$648,220
$648.2K
Cap Rate 7%
$463,014
$463.0K
Cap Rate 9%
$360,122
$360.1K
Market Conditions
NOI Build-Up for 4,212 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
$75.8K $18.00/SF
− Vacancy
−$7.6K −$1.80/SF
EGI
$68.2K $16.20/SF
− OpEx
−$35.8K −$8.51/SF
NOI
$32.4K $7.69/SF
Area
Warren County, NY
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$648,220
Cap Rate 7%
$463,014
Cap Rate 9%
$360,122
Alternative Uses
Best Use
Hotel Hospitality
$463.0K
$405.1K – $540.2K
NOI $32,411 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,250 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
831
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bed & breakfast - Successful bed and breakfast in Glens Falls near Adirondacks.
Where is this bed & breakfast located?
The property is located at 153 Bay St Glens Falls, NY.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Turn‑key Bed and Breakfast Inn: Fully furnished and ready for immediate operation.; Prime Location: Situated in Glens Falls, near the Adirondacks, Saratoga Springs, and Lake George.; Six Spacious Bedrooms: Each bedroom includes a private ensuite bathroom.
