General Store with Apartment and
For Sale
$1,749,000
2660 State Route 9L, Queensbury, NY 12804
COMMERCIAL - Other - Queensbury, NY
Property Size3,472 SF
Lot Size3.14 Acres
Price / SF$503.74
Days on Market92
Property Features for 2660 State Route 9L
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bathroom 5, Bathroom 4, Bathroom 1, Bathroom 2, Bathroom 6
Parking
15
Basement
Partial
Elementary school
Lake George
High school
Lake George
Elementary school district
Lake George
Middle school district
Lake George
High school district
Lake George
Directions
Route 9L east from Lake George Village. Property is on the left at the corner of Cleverdale Road
Standard status
Active
APN
240.9-1-8.1
Size
3,472 SF
Lot size
3.14 Acres
Taxes and HOA fees
Tax Annual Amount
13000
Utilities
Sewer type
Septic Tank
Heating system
Oil
Cooling system
Window Unit(s)
Water source
Well
Building Details
Year built
1950
Floors in Building
2
Building materials
Wood Siding
Architectural style
Other
Listing Agency:
Davies Davies & Associates Real Estate LLC
(518) 656-9068
Listed By:
Timothy Collins · License #10401284992
(518) 361-6451
Added: May 22
Changed: Aug 4
Last Checked: Aug 21 at 7:06PM
MLS# 202617822
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.
For sale at 2660 State Route 9L in Queensbury, this mixed-use property includes a general store with a 2-bedroom apartment located over the store, plus three rental cabins. The store is described as having operated for decades and offers groceries, deli items, gifts, and apparel. The overall lot size is 3.14 acres, with 3,472 square feet of property area.
The property is situated on the east side of Lake George. Zoning is listed as Mixed, providing flexibility for future use based on applicable regulations.
This is a commercial opportunity that supports both an income-producing store and on-site living, along with additional rental revenue from the three cabins.
The property is situated on the east side of Lake George. Zoning is listed as Mixed, providing flexibility for future use based on applicable regulations.
This is a commercial opportunity that supports both an income-producing store and on-site living, along with additional rental revenue from the three cabins.
Key Highlights
- Iconic Cleverdale Store plus 3 rental cabins
- General store includes groceries, deli, gifts, and apparel
- Neighborhood commercial zoning allows for many additional uses
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
$53,747
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
3.07%
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%
$1,074,940
$1.1M
Cap Rate 7%
$767,814
$767.8K
Cap Rate 9%
$597,189
$597.2K
Market Conditions
NOI Build-Up for 3,472 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
$83.3K $24.00/SF
− Vacancy
−$11.7K −$3.36/SF
EGI
$71.7K $20.64/SF
− OpEx
−$17.9K −$5.16/SF
NOI
$53.7K $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%
$1,074,940
Cap Rate 7%
$767,814
Cap Rate 9%
$597,189
Alternative Uses
Best Use
Office B
$767.8K
$671.8K – $895.8K
NOI $53,747 @ 7.0% cap · market cap 3.07%
Second Best
Specialty Retail
$641.5K
$561.3K – $748.4K
NOI $44,903 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$1.04M
$909.3K – $1.21M
NOI $72,745 @ 7.0% cap · market cap 4.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Explore this area
Business Placement
Demographics for 12804, NY
27,790
Population
13,287
Households
2.1
Avg Household Size
47
Median Age
39%
College-Educated
94%
High-School Grad
54.7 sq mi
ZIP Area
508
Density / Sq Mi
$90,074
Median Household Income
$50,368
Median Earnings
$1,209
Median Rent
$284,400
Median Home Value
Market
Vacancy Rate% for Office 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?
Live-work space - For sale general store with a 2-bedroom apartment over the store and three rental cabins on 3.14 acres.
Where is this live-work space located?
The property is located at 2660 State Route 9L Queensbury, NY.
What is the asking price?
The asking price for this property is $1,749,000.
What are key features of this property?
This property features: Iconic Cleverdale Store plus 3 rental cabins; General store includes groceries, deli, gifts, and apparel; Neighborhood commercial zoning allows for many additional uses
