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    Multifamily Portfolio in Glens Falls Title is generated by Realmo AI

    190 Ridge Street, Glens Falls, NY 12801

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    For Sale
    $2,290,000

    MULTI_FAMILY - Other - Glens Falls, NY

    Property size:
    20,866 SF
    Lot size:
    2.23 Acres
    Price / SF:
    $109/SF
    Added:
    May 8, 2026
    Days on Market:
    6
    Last Refresh:
    May 13 at 12:06 am

    Property Features for 190 Ridge Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Multi Residence
    Bedrooms
    34
    Bathrooms
    34
    Rooms
    Bedroom 23, Bedroom 27, Bathroom 22, Bathroom 27, Bedroom 2, Bathroom 34, Bedroom 7, Bedroom 32, Bathroom 21, Bathroom 30, Bathroom 25, Bathroom 15, Bedroom 10, Bedroom 12, Bathroom 28, Bathroom 24, Bathroom 7, Bedroom 33, Bedroom 6, Bedroom 31, Bathroom 16, Bathroom 6, Bedroom 4, Bathroom 33, Bathroom 19, Bedroom 34, Bathroom 32, Bedroom 28, Bathroom 5, Bedroom 1, Bathroom 18, Bedroom 26, Bedroom 17, Bathroom 3, Bathroom 20, Bedroom 9, Bedroom 16, Bedroom 24, Bedroom 20, Bathroom 2, Bedroom 11, Bedroom 21, Bedroom 13, Bathroom 29, Bathroom 17, Bathroom 26, Bedroom 18, Bathroom 13, Bedroom 3, Bedroom 25, Bathroom 10, Bathroom 12, Bathroom 14, Bedroom 30, Bathroom 31, Bathroom 23, Bedroom 22, Bedroom 19, Bedroom 14, Bathroom 4, Bedroom 15, Bathroom 9, Bedroom 5, Bathroom 1, Bedroom 29, Bedroom 8, Bathroom 8, Bathroom 11
    Parking
    34
    Basement
    Unfinished
    Standard status
    Active
    APN
    520500 302.16-17-4
    Size
    20,866 SF
    Lot size
    2.23 Acres

    Taxes and HOA fees

    Tax Annual Amount
    14858

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard, Hot Water(Heating), Natural Gas
    Water source
    Public

    Building Details

    Year built
    1950
    Number of units
    34
    Flooring type
    Carpet, Wood
    Building materials
    Vinyl Siding, Wood Siding
    Roof type
    Slate, Shingle, Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Brent M Tague

    Listing agent Brent M Tague License #10491201692

    Listing office Weichert, Realtors - Tri-City Properties 1510 Central Ave St 380, Albany, NY

    Listing date May 8, 2026

    MLS# 202616758 Listing URL

    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.

    HighLights

    • High‑performing multifamily portfolio with 34 total units.
    • Strong 9.5% cap rate for immediate cash flow.
    • Substantial value‑add potential through rental increases and operational improvements.
    • Four buildings included: 190 Ridge St., 195 Ridge St., 45 Williams St., and 8 Lawton Ave.
    • Features a mix of unit types: 2 two‑bedroom apartments, 14 one‑bedroom apartments, and 15 studios.
    • Public water and sewer.

    Overview

    This is a rare opportunity to acquire a high-performing multifamily portfolio consisting of four buildings and a total of 34 units. The portfolio offers immediate cash flow and substantial value-add potential. The properties include: 190 Ridge St. with 9 units, 195 Ridge St. with 17 units, 45 Williams St. with 4 units, and 8 Lawton Ave. with 4 units. The unit mix consists of two 2-bedroom apartments, fourteen 1-bedroom apartments, and fifteen studio apartments. The portfolio has a strong 9.5% cap rate, offering investors stable income along with significant upside through rental increases and operational improvements. The properties are located in Glens Falls, NY, within Warren County. The lot size is 2.23 acres, and the property size is 20,866 square feet. The zoning is Multi Residence. This portfolio is intended for multifamily residential use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Glens Falls
    County
    Warren
    State
    New York
    Longitude
    -73.644157
    Latitude
    43.317545

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    FAQs

    What type of property is this?
    Apartment building - 34-unit multifamily portfolio with immediate cash flow and value-add potential.
    Where is this apartment building located?
    The property is located at 190 Ridge Street Glens Falls, NY.
    What is the asking price?
    The asking price for this property is $2,290,000.
    What are key features of this property?
    This property features: High‑performing multifamily portfolio with 34 total units.; Strong 9.5% cap rate for immediate cash flow.; Substantial value‑add potential through rental increases and operational improvements.
    (518) 253-8238
    We can help!
    Listing Contact
    Brent M Tague
    Real Estate License ID: 10491201692
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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