Turnkey Restaurant and Mixed-Use
For Sale
$785,000
Pending
162 Glen Street, Glens Falls, NY 12801
Restaurant and mixed-use building in Glens Falls' visible location.
Property Size7,654 SF
Days on Market216
Property Features for 162 Glen Street
General Information
Standard status
Pending
Size
7,654 SF
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$21,066
Building Details
Buildings
1
Stories
3
Listing Agency:
Levack Real Estate Inc
Listed By:
R. Mark Levack · License #31LE0744941
(518) 793-7600
Source:
Capmarkrealty
Added: Mar 31
Changed: Oct 25
Last Checked: Nov 1 at 2:40AM
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
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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 / Yr
$63,827
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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.
