Renovated Medical Office
For Sale
$499,000
43 S Western Avenue, Glens Falls, NY 12801
Triple-net occupancy assigns repairs, utilities, and real property taxes to the tenant.
Property Size2,680 SF
Price / SF$186.19
Days on Market91
Property Features for 43 S Western Avenue
General Information
Standard status
Active
Size
2,680 SF
Property subtype
Commercial
Building Details
Year Built
1983
Listing Agency:
KW Platform
Listed By:
Hunter Cline · License #39039
(570) 216-1949
Source:
Signatureonerealtygroup
Added: Jul 30
Changed: Oct 27
Last Checked: Oct 26 at 4:22PM
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 KW Platform
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Investment Insights
Based on property information with market context.
Located at 43 S Western Avenue in Glens Falls, this 2,680± SF medical office building sits on 0.73 acres and includes 30 parking spaces. The interior was fully renovated in 2018, while the property also features an asphalt roof approximately nine years old, forced-air heating, and central cooling. Constructed in 1983, the building is occupied by an established medical practice that has operated at the property for approximately 14 years.
A signed five-year NNN lease runs through May 31, 2031, with an additional five-year renewal option at an increased rate. The lease assigns repairs, utilities, and real property taxes to the tenant. The property is positioned minutes from major roads and highway access and carries a stated 10.1% cap rate.
A signed five-year NNN lease runs through May 31, 2031, with an additional five-year renewal option at an increased rate. The lease assigns repairs, utilities, and real property taxes to the tenant. The property is positioned minutes from major roads and highway access and carries a stated 10.1% cap rate.
Key Highlights
- 2,680± SF medical office building on 0.73 acres
- Signed five‑year lease through May 31, 2031
- NNN lease assigns repairs, utilities, and real property taxes to the tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,486
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$829,720
$829.7K
Cap Rate 7%
$592,657
$592.7K
Cap Rate 9%
$460,956
$461.0K
Market Conditions
NOI Build-Up for 2,680 SF
Gross rent
$64.3K $24.00/SF
− Vacancy
−$9.0K −$3.36/SF
EGI
$55.3K $20.64/SF
− OpEx
−$13.8K −$5.16/SF
NOI
$41.5K $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 Rate 5%
$829,720
Cap Rate 7%
$592,657
Cap Rate 9%
$460,956
Alternative Uses
Best Use
Office B
$592.7K
$518.6K – $691.4K
NOI $41,486 @ 7.0% cap · market cap 8.31%
Second Best
Healthcare Medical
$518.1K
$453.3K – $604.5K
NOI $36,267 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$802.2K
$701.9K – $935.9K
NOI $56,151 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
493
Businesses Nearby
Under-served
Demand for This Use
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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
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Triple-net occupancy assigns repairs, utilities, and real property taxes to the tenant.
Where is this medical office space located?
The property is located at 43 S Western Avenue Glens Falls, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,680± SF medical office building on 0.73 acres; Signed five‑year lease through May 31, 2031; NNN lease assigns repairs, utilities, and real property taxes to the tenant
