Student Housing
For Sale
$375,000
Pending
31 William Street, Plattsburgh, NY 12901
Commercial Sale, Plattsburgh, NY
Property Size3,140 SF
Lot Size0.18 Acres
Days on Market96
Property Features for 31 William Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Off Street, Parking Lot
Interior features
Apartment
Exterior features
Balcony
Basement
Full, Unfinished
Appliances
Free-Standing Electric Range, Refrigerator
Elementary school district
Plattsburgh
Middle school district
Plattsburgh
High school district
Plattsburgh
Directions
William Street just before Court St
Subdivision
City of Plattsburgh
Standard status
Pending
APN
207.19-5-16
Size
3,140 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
9280
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Water source
Public
Building Details
Year built
2005
Building materials
Cement Siding
Roof type
Metal
Listing Agency:
Century 21 The One · Century 21 Real Estate
(518) 563-7350
Listed By:
Patrick Holcombe
(518) 593-1111
Added: Jun 1
Changed: Sep 4
Last Checked: Sep 4 at 11:06PM
MLS# 207439
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 triplex contains three apartments and 10 bedrooms, with student occupancy established across the property. A comprehensive rebuild completed in 2014 addressed the structure, kitchens, bathrooms, plumbing, electrical systems, and roof. The building also includes balconies, electric baseboard heat, free-standing electric ranges, refrigerators, and a metal roof. New hot water tanks were installed in 2024.
The property occupies 0.18 acres at 31 William Street in Plattsburgh, NY. Public water and public sewer serve the building, while parking is provided through an on-site lot and off-street spaces. Owners currently handle lawn and snow care, and some leases are in place for 26/27.
The property occupies 0.18 acres at 31 William Street in Plattsburgh, NY. Public water and public sewer serve the building, while parking is provided through an on-site lot and off-street spaces. Owners currently handle lawn and snow care, and some leases are in place for 26/27.
Key Highlights
- Three‑apartment triplex with 10 bedrooms
- Comprehensive 2014 rebuild included structure, kitchens, bathrooms, plumbing, electrical, and roof
- New hot water tanks installed in 2024
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
$26,809
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
7.15%
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%
$536,180
$536.2K
Cap Rate 7%
$382,986
$383.0K
Cap Rate 9%
$297,878
$297.9K
Market Conditions
NOI Build-Up for 3,140 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
$41.4K $13.20/SF
− Vacancy
−$3.2K −$1.00/SF
EGI
$38.3K $12.20/SF
− OpEx
−$11.5K −$3.66/SF
NOI
$26.8K $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%
$536,180
Cap Rate 7%
$382,986
Cap Rate 9%
$297,878
Alternative Uses
Best Use
Multifamily LT 5
$383.0K
$335.1K – $446.8K
NOI $26,809 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$340.5K
$297.9K – $397.2K
NOI $23,833 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$865.6K
$757.4K – $1.01M
NOI $60,589 @ 7.0% cap · market cap 16.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,631
Businesses Nearby
Explore this area
Business Placement
Demographics for 12901, NY
32,147
Population
15,426
Households
2.1
Avg Household Size
38
Median Age
33%
College-Educated
89%
High-School Grad
70.6 sq mi
ZIP Area
455
Density / Sq Mi
$59,413
Median Household Income
$35,385
Median Earnings
$957
Median Rent
$182,100
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 - Three-apartment property with student tenants, refreshed building systems, balconies, and off-street parking.
Where is this triplex located?
The property is located at 31 William Street Plattsburgh, 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‑apartment triplex with 10 bedrooms; Comprehensive 2014 rebuild included structure, kitchens, bathrooms, plumbing, electrical, and roof; New hot water tanks installed in 2024
