Brick Mixed-Use
For Sale
Contact for pricing
198 2nd Avenue, Gloversville, NY 12078
An adaptable interior combines open space, a private office, two bathrooms, and a countertop area.
Property Size3,000 SF
Price / SF$1.00
Days on Market352
Property Features for 198 2nd Avenue
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Mixed Use
Property Condition
Severity
Repairs Needed
Evidence
minor interior adjustments
Amenities
private office
basement access
bathrooms
countertop/dry bar area
Building Details
Year Built
1997
Buildings
1
Construction
brick
Listing Agency:
Coldwell Banker Prime Properties
(518) 762-9885
Listed By:
Fermina B Clet · License #10401342270
(518) 775-8446
Source:
Simplywoodardrealestate
Added: Nov 17, 2025
Changed: Nov 1
Last Checked: Nov 1 at 3:06PM
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 Coldwell Banker Prime Properties
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,000-square-foot brick mixed-use property at 198 2nd Avenue in Gloversville was built in 1997. Its open interior includes one private office, two bathrooms, and a countertop or dry bar area. A full basement provides additional storage space.
Key Highlights
- 3,000‑square‑foot brick building constructed in 1997
- Open floor plan with one private office
- Full basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,450
Suggested Prices Based on Cap Rates
Cap Rate 5%
$729,000
$729.0K
Cap Rate 7%
$520,714
$520.7K
Cap Rate 9%
$405,000
$405.0K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$64.8K $21.60/SF
− Vacancy
−$6.5K −$2.16/SF
EGI
$58.3K $19.44/SF
− OpEx
−$21.9K −$7.29/SF
NOI
$36.5K $12.15/SF
Area
Fulton County, NY
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$729,000
Cap Rate 7%
$520,714
Cap Rate 9%
$405,000
Alternative Uses
Best Use
Mixed Use
$520.7K
$455.6K – $607.5K
NOI $36,450 @ 7.0% cap · market cap 1,215.00%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.07M
$1.81M – $2.42M
NOI $145,177 @ 7.0% cap · market cap 4,839.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 12078, NY
23,009
Population
11,668
Households
2
Avg Household Size
44
Median Age
18%
College-Educated
87%
High-School Grad
110.8 sq mi
ZIP Area
208
Density / Sq Mi
$54,565
Median Household Income
$36,769
Median Earnings
$908
Median Rent
$122,400
Median Home Value
Frequently Asked Questions
What type of property is this?
Mixed-use property - An adaptable interior combines open space, a private office, two bathrooms, and a countertop area.
Where is this mixed-use property located?
The property is located at 198 2nd Avenue Gloversville, NY.
What are key features of this property?
This property features: 3,000‑square‑foot brick building constructed in 1997; Open floor plan with one private office; Full basement
