Tenant-Occupied Duplex with Metal
For Sale
$179,000
18 Main Street, Lake Luzerne, NY 12846
MultiFamily, Lake Luzerne, NY
Property Size1,800 SF
Lot Size0.15 Acres
Price / SF$99.44
Days on Market96
Property Features for 18 Main Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1
Parking
6
Parking features
Driveway
Basement
Crawl Space
Elementary school
Hadley-Luzerne
High school
Hadley-Luzerne
Elementary school district
Hadley Luzerne
Middle school district
Hadley Luzerne
High school district
Hadley Luzerne
Directions
Exit 21, to Route 9, to Mill St, to Main St
Standard status
Active
APN
523200 298.15-2-12
Size
1,800 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
2232
Utilities
Sewer type
Septic Tank
Heating system
Baseboard, Electric (Heating)
Water source
Public
Building Details
Year built
1940
Number of units
2
Building materials
Wood Siding
Roof type
Metal
Architectural style
Other
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Thaddeus Jones · License #10301220962
(518) 681-1836
Added: Jul 2
Changed: Oct 2
Last Checked: Oct 5 at 3:06AM
MLS# 202620941
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.
This 1,800-square-foot duplex was built in 1940 and is currently tenant-occupied. The property includes two residential units, a portion used for storage, wood siding, and a metal roof. One unit may be delivered vacant, subject to the applicable transaction terms. Heating is provided by electric baseboard systems.
Set on 0.15 acres at 18 Main Street in Lake Luzerne, the property has driveway parking, public water, and a septic tank. It is within walking distance of Wayside Beach and Pavilion Park. The HC (Hamlet Commercial) zoning designation is in place, and the storage area may offer potential for additional residential or commercial units subject to town approvals.
Set on 0.15 acres at 18 Main Street in Lake Luzerne, the property has driveway parking, public water, and a septic tank. It is within walking distance of Wayside Beach and Pavilion Park. The HC (Hamlet Commercial) zoning designation is in place, and the storage area may offer potential for additional residential or commercial units subject to town approvals.
Key Highlights
- Tenant‑occupied duplex with 1,800 square feet of building area
- One unit may be delivered vacant
- HC (Hamlet Commercial) zoning
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
$16,452
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
9.19%
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%
$329,040
$329.0K
Cap Rate 7%
$235,029
$235.0K
Cap Rate 9%
$182,800
$182.8K
Market Conditions
NOI Build-Up for 1,800 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
$25.3K $14.04/SF
− Vacancy
−$1.8K −$0.98/SF
EGI
$23.5K $13.06/SF
− OpEx
−$7.1K −$3.92/SF
NOI
$16.5K $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%
$329,040
Cap Rate 7%
$235,029
Cap Rate 9%
$182,800
Alternative Uses
Best Use
Multifamily LT 5
$235.0K
$205.7K – $274.2K
NOI $16,452 @ 7.0% cap · market cap 9.19%
Second Best
Apartment 5plus
$214.4K
$187.6K – $250.2K
NOI $15,010 @ 7.0% cap · market cap 8.39%
Theoretical Best
Office A
$538.8K
$471.4K – $628.6K
NOI $37,714 @ 7.0% cap · market cap 21.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 12846, NY
3,008
Population
2,338
Households
1.3
Avg Household Size
51
Median Age
26%
College-Educated
90%
High-School Grad
53.7 sq mi
ZIP Area
56
Density / Sq Mi
$47,449
Median Household Income
$41,500
Median Earnings
$942
Median Rent
$197,400
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - HC (Hamlet Commercial) zoning, public water, and private septic serve this two-unit property.
Where is this duplex located?
The property is located at 18 Main Street Lake Luzerne, NY.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: Tenant‑occupied duplex with 1,800 square feet of building area; One unit may be delivered vacant; HC (Hamlet Commercial) zoning
