Updated Six-Bedroom Bed and
New
For Sale
$949,000
153 Bay Street, Glens Falls, NY 12801
Commercial Sale, Glens Falls, NY
Property Size4,212 SF
Lot Size0.29 Acres
Price / SF$225.31
Days on Market3
Property Features for 153 Bay Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 2, Bathroom 5, Bathroom 3, Bathroom 7, Bathroom 1, Bathroom 6, Bathroom 4
Parking
8
Parking features
Off Street
Patio and Porch features
Porch, Patio
Interior features
High Speed Internet, Paddle Fan, Solid Surface Counters, Tray Ceiling(s), Wired for Sound, Built-in Features, Ceramic Tile Bath, Crown Molding
Exterior features
Garden, Lighting
Basement
Interior Entry, Unfinished
Lot features
Road Frontage, Level, Corner Lot, Landscaped
Elementary school
Jackson Heights
High school
Glens Falls
Elementary school district
Glens Falls
Middle school district
Glens Falls
High school district
Glens Falls
Directions
From the center of Downtown Glens Falls, take a right onto Bay St at the light, by the library. Drive .25 miles and property is on the right side.
Standard status
Active
APN
520500 302.16-7-10
Size
4,212 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Annual Amount
9443
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Baseboard, Hot Water(Heating)
Cooling system
Wall Unit(s), Ductless
Water source
Public
Amenities
in-ground pool
Building Details
Year built
1892
Floors in Building
2
Flooring type
Hardwood, Carpet, Vinyl
Building materials
Drywall, Vinyl Siding
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Julie & Co Realty LLC
(518) 350-7653
Listed By:
Kathie A Spangler · License #30SP1026055
(518) 542-0294
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 30 at 5:06PM
MLS# 202625085
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 153 Bay Street in Glens Falls, this 4,212-square-foot bed and breakfast occupies a 0.29-acre property with six bedrooms, each paired with a private ensuite bathroom. The building dates to 1892 and was comprehensively renovated in 2015, including electrical, plumbing, drywall, and HVAC improvements. Eight split units support the heating and cooling systems, while hardwood, carpet, and vinyl flooring are used throughout. Furnishings are included, allowing the property to function as a furnished hospitality operation or a single residence.
The property has mixed zoning and access to public water and public sewer. Exterior features include an in-ground pool, garden areas, porch, patio, and off-street parking. Interior details include solid surface counters, ceramic tile baths, crown molding, built-in features, high-speed internet, and sound wiring. Baseboard and hot-water heating are supplemented by zoned controls, with wall-unit and ductless cooling.
The property has mixed zoning and access to public water and public sewer. Exterior features include an in-ground pool, garden areas, porch, patio, and off-street parking. Interior details include solid surface counters, ceramic tile baths, crown molding, built-in features, high-speed internet, and sound wiring. Baseboard and hot-water heating are supplemented by zoned controls, with wall-unit and ductless cooling.
Key Highlights
- Six‑bedroom configuration with a private ensuite bathroom for each bedroom
- 4,212 square feet on a 0.29‑acre lot
- Renovated in 2015 with updated electrical, plumbing, drywall, and HVAC systems
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
$35,124
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
3.70%
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%
$702,480
$702.5K
Cap Rate 7%
$501,771
$501.8K
Cap Rate 9%
$390,267
$390.3K
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
$67.2K $15.96/SF
− Vacancy
−$3.4K −$0.80/SF
EGI
$63.9K $15.16/SF
− OpEx
−$28.7K −$6.82/SF
NOI
$35.1K $8.34/SF
Area
Warren County, NY
Vacancy
5.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
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%
$702,480
Cap Rate 7%
$501,771
Cap Rate 9%
$390,267
Alternative Uses
Best Use
Apartment 5plus
$501.8K
$439.1K – $585.4K
NOI $35,124 @ 7.0% cap · market cap 3.70%
Second Best
Hotel Hospitality
$463.0K
$405.1K – $540.2K
NOI $32,411 @ 7.0% cap · market cap 3.42%
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
Lease Details
Turnkey business
Opportunity
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Glens Falls Inn — 25 Sherman Ave, Glens Falls, NY 12801
- Bailys bed and breakfast — Centennial Cir, Glens Falls, NY 12801
- Stagecoach inn — Lake Placid, NY 12801
- The Bell House Inn — 153 Bay St, Glens Falls, NY 12801
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Renovated hospitality property with private guest baths, furnishings, and an in-ground pool.
Where is this bed & breakfast located?
The property is located at 153 Bay Street 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: Six‑bedroom configuration with a private ensuite bathroom for each bedroom; 4,212 square feet on a 0.29‑acre lot; Renovated in 2015 with updated electrical, plumbing, drywall, and HVAC systems
