Mixed-Use Retail and
For Sale
$540,000
173-175 Glen Street, Glens Falls, NY 12801
Two residential apartments sit above a street-level storefront in a multi-use building designed for combined rental income.
Property Size5,283 SF
Price / SF$102.21
Days on Market133
Property Features for 173-175 Glen Street
General Information
Standard status
Active
Size
5,283 SF
Property subtype
Commercial
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Miranda Real Estate Group Inc
Listed By:
Lisa Vitiello
(518) 348-2060
Source:
Signatureonerealtygroup
Added: Apr 26
Changed: Sep 4
Last Checked: Sep 4 at 10:26AM
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 Miranda Real Estate Group Inc
Investment Insights
Based on property information with market context.
This mixed-use building features a storefront business space on the first floor and two exceptionally spacious apartments above. The residential units are described as offering generous living spaces with private oversized storage area and plenty of natural light.
The property is located on Glen Street in Glens Falls, where the downtown setting is characterized in the remarks as walkable, with nearby restaurants, shops, entertainment venues, and year-round community events.
As configured, the building supports multiple revenue streams through its commercial tenant space and the two separate apartment units.
The property is located on Glen Street in Glens Falls, where the downtown setting is characterized in the remarks as walkable, with nearby restaurants, shops, entertainment venues, and year-round community events.
As configured, the building supports multiple revenue streams through its commercial tenant space and the two separate apartment units.
Key Highlights
- Multi‑use building built in 1900 with a street‑level storefront and two residential apartments above
- Commercial business space on the first floor supports multiple revenue streams
- Two exceptionally spacious apartments with natural light
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
$48,287
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
8.94%
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%
$965,740
$965.7K
Cap Rate 7%
$689,814
$689.8K
Cap Rate 9%
$536,522
$536.5K
Market Conditions
NOI Build-Up for 5,283 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
$74.2K $14.04/SF
− Vacancy
−$5.2K −$0.98/SF
EGI
$69.0K $13.06/SF
− OpEx
−$20.7K −$3.92/SF
NOI
$48.3K $9.14/SF
Area
Warren County, NY
Vacancy
7.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
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%
$965,740
Cap Rate 7%
$689,814
Cap Rate 9%
$536,522
Alternative Uses
Best Use
Retail
$729.1K
$637.9K – $850.6K
NOI $51,034 @ 7.0% cap · market cap 9.45%
Second Best
Multifamily LT 5
$689.8K
$603.6K – $804.8K
NOI $48,287 @ 7.0% cap · market cap 8.94%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,689 @ 7.0% cap · market cap 20.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,246
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential apartments sit above a street-level storefront in a multi-use building designed for combined rental income.
Where is this duplex located?
The property is located at 173-175 Glen Street Glens Falls, NY.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Multi‑use building built in 1900 with a street‑level storefront and two residential apartments above; Commercial business space on the first floor supports multiple revenue streams; Two exceptionally spacious apartments with natural light
