Renovated Medical Office
New
For Sale
$499,000
43 S Western Avenue, Glens Falls, NY 12801
Commercial Sale, Glens Falls, NY
Property Size2,680 SF
Lot Size0.73 Acres
Price / SF$186.19
Days on Market2
Property Features for 43 S Western Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
30
Basement
Unfinished
Directions
Exit 18 on 87. East on Main street, left on S Western Ave, building is on right.
Standard status
Active
APN
520500 309.7-10-30
Size
2,680 SF
Lot size
0.73 Acres
Taxes and HOA fees
Tax Annual Amount
6812
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1983
Building materials
Brick, Vinyl Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Hunter Cline · License #10401402990
(570) 216-1949
Added: Sep 10
Last Checked: Sep 11 at 5:06PM
MLS# 202625898
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.
This medical office property includes a 2,680-square-foot building on 0.73 acres at 43 S Western Avenue. The facility has a full interior renovation completed in 2018, brick and vinyl siding construction, forced-air heating, central air, an asphalt roof, and 30 parking spaces. Public water and public sewer serve the property.
The building is occupied by an established medical practice under a signed five-year NNN lease extending through May 31, 2031, with a further five-year renewal option. The lease structure assigns repairs, utilities, and real property taxes to the tenant. The property is located in Glens Falls, with access to major roads and highways. The reported cap rate is 10.1%.
The building is occupied by an established medical practice under a signed five-year NNN lease extending through May 31, 2031, with a further five-year renewal option. The lease structure assigns repairs, utilities, and real property taxes to the tenant. The property is located in Glens Falls, with access to major roads and highways. The reported cap rate is 10.1%.
Key Highlights
- 2,680‑square‑foot medical office building on 0.73 acres
- Occupied by an established medical practice operating at the property for approximately 14 years
- Signed five‑year NNN lease through May 31, 2031
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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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
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
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Occupied medical office property with a long-term NNN lease, public utilities, and on-site parking.
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‑square‑foot medical office building on 0.73 acres; Occupied by an established medical practice operating at the property for approximately 14 years; Signed five‑year NNN lease through May 31, 2031
