Triplex with Wraparound
New
For Sale
$375,000
Pending
266 Warren Street, Glens Falls, NY 12801
Three-unit residential property with one occupied apartment, two vacant units, and basement laundry facilities.
Property Size2,755 SF
Days on Market6
Property Features for 266 Warren Street
General Information
Standard status
Pending
Size
2,755 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,282
Amenities
hardwood floors
coin-operated laundry
wrap-around front porch
Building Details
Year Built
1930
Buildings
1
Tenancy
Single
Listing Agency:
Premier Homes Elite Realty LLC
Listed By:
Chrystal Chadwick
(518) 289-1042
Source:
Capmarkrealty
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 4:28AM
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 Premier Homes Elite Realty LLC
Investment Insights
Based on property information with market context.
Built in 1930, this three-unit residential property includes one apartment with an existing tenant and two vacant units available for leasing or owner occupancy. The building combines period character with recently refinished hardwood flooring and a wraparound front porch. A coin-operated laundry area is located in the basement.
The property is situated in Glens Falls near local shops, restaurants, services, and major roadways. Its three-unit configuration offers flexibility for a new owner seeking separate rental apartments or a residence within the building.
The property is situated in Glens Falls near local shops, restaurants, services, and major roadways. Its three-unit configuration offers flexibility for a new owner seeking separate rental apartments or a residence within the building.
Key Highlights
- Three‑unit property built in 1930
- One unit occupied; two units vacant
- Recently refinished hardwood floors
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
$25,181
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
6.71%
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%
$503,620
$503.6K
Cap Rate 7%
$359,729
$359.7K
Cap Rate 9%
$279,789
$279.8K
Market Conditions
NOI Build-Up for 2,755 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
$38.7K $14.04/SF
− Vacancy
−$2.7K −$0.98/SF
EGI
$36.0K $13.06/SF
− OpEx
−$10.8K −$3.92/SF
NOI
$25.2K $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%
$503,620
Cap Rate 7%
$359,729
Cap Rate 9%
$279,789
Alternative Uses
Best Use
Multifamily LT 5
$359.7K
$314.8K – $419.7K
NOI $25,181 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$328.2K
$287.2K – $382.9K
NOI $22,974 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$824.6K
$721.5K – $962.1K
NOI $57,723 @ 7.0% cap · market cap 15.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
Explore this area
Business Placement
Demographics for 12801, NY
14,850
Population
7,287
Households
2
Avg Household Size
40
Median Age
33%
College-Educated
90%
High-School Grad
3.8 sq mi
ZIP Area
3,908
Density / Sq Mi
$70,019
Median Household Income
$46,700
Median Earnings
$1,050
Median Rent
$196,000
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with one occupied apartment, two vacant units, and basement laundry facilities.
Where is this triplex located?
The property is located at 266 Warren Street Glens Falls, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Three‑unit property built in 1930; One unit occupied; two units vacant; Recently refinished hardwood floors
