Triplex with Three Separate
For Sale
$240,000
25 Spruce Street, Champlain, NY 12919
MULTI_FAMILY - Other - Champlain, NY
Property Size1,678 SF
Lot Size0.47 Acres
Price / SF$143.03
Days on Market49
Property Features for 25 Spruce Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
Driveway
Window features
Vinyl Frames
Basement
Crawl Space
Appliances
Range, Refrigerator
Lot features
Level
Elementary school district
Northeastern Clinton
Middle school district
Northeastern Clinton
High school district
Northeastern Clinton
Directions
Follow I-87 North to Champlain. At the round-about use the first exit and continue east on Route 11. Turn left onto South Street, then left onto Spruce Street. Look for sign.
Subdivision
Champlain, Rouses Point, Mooers
Standard status
Active
APN
18.19-2-8
Size
1,678 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Annual Amount
4947
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1890
Floors in Building
2
Number of units
3
Flooring type
Laminate, Linoleum, Carpet
Building materials
Vinyl Siding
Roof type
Metal
Architectural style
Other
Listing Agency:
Ridgeline Realty Group
(518) 564-0206
Listed By:
Amy Provost
(518) 569-5347
Added: Jun 25
Changed: Aug 4
Last Checked: Aug 12 at 3:06AM
MLS# 207659
Copyright © 2026 Adirondack Champlain Valley MLS. 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 well maintained triplex in the Village of Champlain offers three separate apartments. Unit A features a 3-bedroom, 1-bath layout. Unit B is a main level unit with 2 bedrooms and 1 bath. Unit C is an upstairs 1-bedroom, 1-bath apartment. The property includes appliances such as a range and refrigerator, with vinyl siding and a metal roof. Interior finishes include linoleum, carpet, and laminate flooring, and heat is provided by hot water systems using natural gas.
The home sits on a 0.47-acre lot and has driveway parking. Public water service and public sewer are provided.
With a total building size of 1,678 square feet, this triplex presents a straightforward, multi-unit setup for an owner looking to manage rental apartments.
The home sits on a 0.47-acre lot and has driveway parking. Public water service and public sewer are provided.
With a total building size of 1,678 square feet, this triplex presents a straightforward, multi-unit setup for an owner looking to manage rental apartments.
Key Highlights
- Three separate apartments: 3‑bedroom/1‑bath, 2‑bedroom/1‑bath, and 1‑bedroom/1‑bath
- Natural gas hot water heating
- Metal roof with vinyl siding
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
$14,326
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
5.97%
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%
$286,520
$286.5K
Cap Rate 7%
$204,657
$204.7K
Cap Rate 9%
$159,178
$159.2K
Market Conditions
NOI Build-Up for 1,678 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
$22.1K $13.20/SF
− Vacancy
−$1.7K −$1.00/SF
EGI
$20.5K $12.20/SF
− OpEx
−$6.1K −$3.66/SF
NOI
$14.3K $8.54/SF
Area
Clinton County, NY
Vacancy
7.60%
Lease Rate
$13.20 /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%
$286,520
Cap Rate 7%
$204,657
Cap Rate 9%
$159,178
Alternative Uses
Best Use
Multifamily LT 5
$204.7K
$179.1K – $238.8K
NOI $14,326 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$181.9K
$159.2K – $212.3K
NOI $12,736 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$462.6K
$404.7K – $539.7K
NOI $32,379 @ 7.0% cap · market cap 13.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
176
Businesses Nearby
Explore this area
Business Placement
Demographics for 12919, NY
3,011
Population
1,262
Households
2.4
Avg Household Size
43
Median Age
24%
College-Educated
89%
High-School Grad
37.4 sq mi
ZIP Area
81
Density / Sq Mi
$77,072
Median Household Income
$40,457
Median Earnings
$1,032
Median Rent
$170,800
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?
Triplex - Triplex in Champlain with three separate apartments, natural gas hot water heat, public water and sewer.
Where is this triplex located?
The property is located at 25 Spruce Street Champlain, NY.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Three separate apartments: 3‑bedroom/1‑bath, 2‑bedroom/1‑bath, and 1‑bedroom/1‑bath; Natural gas hot water heating; Metal roof with vinyl siding
