Turnkey Restaurant and Mixed-Use
For Sale
$785,000
162 Glen Street, Glens Falls, NY 12801
Restaurant and mixed-use building in Glens Falls' visible location.
Property Size7,654 SF
Lot Size0.07 Acres
Price / SF$102.56
Days on Market146
Property Features for 162 Glen Street
General Information
Standard status
Active
Size
7,654 SF
Lot size
0.07 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$21,066
Amenities
Central air
Attached Garage
Accessible Approach with Ramp
Accessible Kitchen
Accessible Sidewalks
Accessible Transportation or Bus
Baseboard Heating
Central Air Cooling
Forced Air Heating
Hardwood Flooring
Level
Natural Gas Heating
Off Street
Paved
Radiant Heating
Road Frontage
Rubber Roof
Vinyl Flooring
Window Unit(s) Cooling
Zoned Heating
Listing Agency:
LEVACK REAL ESTATE INC
(518) 793-7600
Listed By:
R. MARK LEVACK
Source:
Corcoran
Added: Mar 28
Changed: Aug 19
Last Checked: Aug 19 at 9:17AM
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 LEVACK REAL ESTATE INC
Investment Insights
Based on property information with market context.
This 7,654 square foot mixed-use building presents an opportunity to acquire a turnkey restaurant and income-generating apartments. The property currently houses a Mexican restaurant and grill, which has been in operation for 18 years. The sale includes all fixtures, furnishings, and equipment necessary for the restaurant business. In addition to the restaurant, the building features two apartments on the second floor and one apartment on the third floor, providing rental income. The building has undergone extensive capital improvements, with no critical deferred maintenance reported. Located in a highly visible area of Glens Falls, this property offers a prime location for a restaurant and rental income.
Key Highlights
- Turnkey restaurant and mixed‑use building in Glens Falls' most visible location.
- All restaurant fixtures, furnishings, and equipment included in the sale price.
- Rental income from three apartments.
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
$63,827
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
8.13%
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%
$1,276,540
$1.3M
Cap Rate 7%
$911,814
$911.8K
Cap Rate 9%
$709,189
$709.2K
Market Conditions
NOI Build-Up for 7,654 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
$122.2K $15.96/SF
− Vacancy
−$6.1K −$0.80/SF
EGI
$116.0K $15.16/SF
− OpEx
−$52.2K −$6.82/SF
NOI
$63.8K $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%
$1,276,540
Cap Rate 7%
$911,814
Cap Rate 9%
$709,189
Alternative Uses
Best Use
Specialty Retail
$1.41M
$1.24M – $1.65M
NOI $98,989 @ 7.0% cap · market cap 12.61%
Second Best
Apartment 5plus
$911.8K
$797.8K – $1.06M
NOI $63,827 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $160,367 @ 7.0% cap · market cap 20.43%
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
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant and mixed-use building in Glens Falls' visible location.
Where is this conventional restaurant located?
The property is located at 162 Glen Street Glens Falls, NY.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Turnkey restaurant and mixed‑use building in Glens Falls' most visible location.; All restaurant fixtures, furnishings, and equipment included in the sale price.; Rental income from three apartments.
