Established Market & Deli
40 Main Street South Glens Falls, NY 12803
40 Main Street, South Glens Falls, NY, 12803
$599,000
For Sale
$599,000
Profitable market and deli with real estate included.
Property Size5,387 SF
Lot Size0.54 Acres
Price / SF$111.19
Days on Market141
Property Features for 40 Main Street
General Information
- Standard status
- Active
- Size
- 5,387 SF
- Lot size
- 0.54 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1981
Listing agency
REALIZE BROKERS
(518) 656-0556
Listed by
NICHOLAS KETTER
Source
Corcoran
Added: Mar 2 Updated: Jul 6 at 10:23AM Checked: Jul 21 at 5:09AM
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 REALIZE BROKERS
Investment Insights
Based on property information with market context.
An established market and delicatessen, a community landmark for over 25 years, is available for acquisition, including the commercial real estate. The property features a 5,387 square foot building on 0.54 acres. Public utilities are available, including water, sewer, natural gas, and electric. The property is located in a commercial (C1) zone. The location offers high traffic and high visibility, situated across the bridge from Downtown Glens Falls. The existing market/deli business has historical financials available upon request and execution of a non-disclosure agreement. Potential opportunities include expanding or refining the existing business, or exploring rental or redevelopment options.
Key Highlights
- Established Sorrentino's Delicatessen and Market with strong historical financials
- Includes a 5,387 SF building on 0.54 acres
- Prime location in a high traffic, high visibility area across from Downtown Glens Falls
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $80.8k | $15.00 |
| − Vacancy | −$6.5k | −$1.20 |
| EGI | $74.3k | $13.80 |
| − OpEx | −$22.3k | −$4.14 |
| NOI | $52.0k | $9.66 |
5,387 SF · lease $15.00/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$995.3K
$870.9K – $1.16M
NOI $69,670 @ 7.0% cap · market cap 11.63%
Second Best
Retail
$743.4K
$650.5K – $867.3K
NOI $52,038 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,868 @ 7.0% cap · market cap 18.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Sorrentino's Delicatessen & Market
Take-out & Catering
TEASE Salon And Beauty ...
Hair Salon
Pacyna Edward J
Alternative Medicine Practice
Dragonfly Massage Therapy
Alternative Medicine Practice
Similar For Sale Nearby
Similar Off Market Nearby
- Hannaford — 175 Broad St, Glens Falls, NY 12801
FAQs
What type of property is this?
Grocery and convenience store - Profitable market and deli with real estate included.
Where is this grocery and convenience store located?
The property is located at 40 Main Street South Glens Falls, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Established Sorrentino's Delicatessen and Market with strong historical financials; Includes a **5,387 SF building on 0.54 acres**; **Prime location** in a high traffic, high visibility area across from Downtown Glens Falls
