Turn-Key Income
For Sale
$299,900
162 Ridge Street, Glens Falls, NY 12801
Well-maintained, fully furnished income property offered turn-key for immediate move-in or rental use.
Property Size1,958 SF
Price / SF$153.17
Days on Market57
Property Features for 162 Ridge Street
General Information
Standard status
Active
Size
1,958 SF
Property subtype
Multi-family
Additional Details
Furnished
Yes
Building Details
Year Built
1920
Listing Agency:
Revision Real Estate
Listed By:
Jerome P Newkirk
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jul 21
Changed: Sep 14
Last Checked: Sep 14 at 8:27AM
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 Revision Real Estate
Investment Insights
Based on property information with market context.
Offered as a turn-key opportunity, this well-maintained income property is presented fully furnished, with furnishings described as negotiable. The property is positioned for convenient occupancy or rental income, with the seller noting a successful history as an Airbnb.
The home is located in Glens Falls, with Downtown Glens Falls described as minutes away, offering access to restaurants, shops, theaters, and year-round festivals. Lake George is described as a short drive away, supporting seasonal activities such as boating and hiking, and four-season recreation.
The listing is marketed as suitable for owner-occupants looking for convenience and a ready-to-use setup, as well as small investors seeking a turnkey, income-producing property.
The home is located in Glens Falls, with Downtown Glens Falls described as minutes away, offering access to restaurants, shops, theaters, and year-round festivals. Lake George is described as a short drive away, supporting seasonal activities such as boating and hiking, and four-season recreation.
The listing is marketed as suitable for owner-occupants looking for convenience and a ready-to-use setup, as well as small investors seeking a turnkey, income-producing property.
Key Highlights
- Built in 1920
- Well‑maintained property offered fully furnished (negotiable)
- Being sold ready for immediate move‑in or rental use
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
$16,328
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
5.44%
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%
$326,560
$326.6K
Cap Rate 7%
$233,257
$233.3K
Cap Rate 9%
$181,422
$181.4K
Market Conditions
NOI Build-Up for 1,958 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
$31.2K $15.96/SF
− Vacancy
−$1.6K −$0.80/SF
EGI
$29.7K $15.16/SF
− OpEx
−$13.4K −$6.82/SF
NOI
$16.3K $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%
$326,560
Cap Rate 7%
$233,257
Cap Rate 9%
$181,422
Alternative Uses
Best Use
Apartment 5plus
$233.3K
$204.1K – $272.1K
NOI $16,328 @ 7.0% cap · market cap 5.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$586.1K
$512.8K – $683.7K
NOI $41,024 @ 7.0% cap · market cap 13.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,017
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Short term rental property - Well-maintained, fully furnished income property offered turn-key for immediate move-in or rental use.
Where is this short term rental property located?
The property is located at 162 Ridge Street Glens Falls, NY.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Built in 1920; Well‑maintained property offered fully furnished (negotiable); Being sold ready for immediate move‑in or rental use
