Renovated Medical Office
New
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 Market6
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: Sep 8
Changed: Sep 12
Last Checked: Sep 13 at 9:07AM
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
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 = 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
$41,486
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
8.31%
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%
$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
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
$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 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%
$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.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
493
Businesses Nearby
Under-served
Demand for This Use
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
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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
