Office Unit with Attached
For Sale
$239,000
225 Main Street, South Glens Falls, NY 12803
Commercial Sale, South Glens Falls, NY
Property Size908 SF
Lot Size0.20 Acres
Price / SF$263.22
Days on Market320
Property Features for 225 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
13
Interior features
Cathedral Ceiling(s)
Lot features
Level, Corner Lot
High school
South Glens Falls
Elementary school district
South Glens Falls
Middle school district
South Glens Falls
High school district
South Glens Falls
Directions
Main Street in South Glens Falls, property is on the corner of Main and Wilson Avenue.
Standard status
Active
APN
414401 37.79-1-6
Size
908 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
2075
Utilities
Sewer type
Public Sewer
Heating system
Wood Stove, Wood, Natural Gas
Water source
Public
Amenities
wood stove
cathedral ceilings
storage shed
Building Details
Year built
1966
Floors in Building
1
Building materials
Frame
Listing Agency:
Davies Davies & Associates Real Estate LLC
(518) 656-9068
Listed By:
Daniel L Davies · License #49DA1061690
(518) 796-9068
Added: Oct 17, 2025
Changed: Aug 24
Last Checked: Sep 1 at 10:06PM
MLS# 202527999
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 908-square-foot frame office unit was built in 1966 and includes a main room with knotty pine walls, a wood stove, and cathedral ceiling. Two additional rooms and a half bathroom provide a compact multi-room layout. The property also includes three attached garage spaces, each associated with wood-stove heating, plus a storage shed and on-site parking.
Set on 0.2 acres along Main Street in South Glens Falls, the property has public water and public sewer service. Commercial zoning is in place, and the sellers hold a use variance for commercial use. The configuration is identified as suitable for office occupancy or a small business.
Set on 0.2 acres along Main Street in South Glens Falls, the property has public water and public sewer service. Commercial zoning is in place, and the sellers hold a use variance for commercial use. The configuration is identified as suitable for office occupancy or a small business.
Key Highlights
- 908 square feet on a 0.2‑acre lot
- Three attached garage spaces with wood stoves
- Main room with knotty pine walls and cathedral ceiling
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
$14,056
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
5.88%
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%
$281,120
$281.1K
Cap Rate 7%
$200,800
$200.8K
Cap Rate 9%
$156,178
$156.2K
Market Conditions
NOI Build-Up for 908 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
$21.8K $24.00/SF
− Vacancy
−$3.1K −$3.36/SF
EGI
$18.7K $20.64/SF
− OpEx
−$4.7K −$5.16/SF
NOI
$14.1K $15.48/SF
Area
Warren County, NY
Vacancy
14.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$281,120
Cap Rate 7%
$200,800
Cap Rate 9%
$156,178
Alternative Uses
Best Use
Office B
$200.8K
$175.7K – $234.3K
NOI $14,056 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$271.8K
$237.8K – $317.1K
NOI $19,024 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Explore this area
Business Placement
Demographics for 12803, NY
8,990
Population
3,819
Households
2.4
Avg Household Size
43
Median Age
29%
College-Educated
92%
High-School Grad
6.1 sq mi
ZIP Area
1,474
Density / Sq Mi
$80,913
Median Household Income
$42,782
Median Earnings
$1,194
Median Rent
$222,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Commercially zoned property with multiple rooms, public utilities, and a use variance for commercial activity.
Where is this office units located?
The property is located at 225 Main Street South Glens Falls, NY.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: 908 square feet on a 0.2‑acre lot; Three attached garage spaces with wood stoves; Main room with knotty pine walls and cathedral ceiling
