Mixed-Use Property with
For Sale
$1,425,000
5 Lower Montcalm Street, Lake George, NY 12845
Commercial Sale, Lake George, NY
Property Size4,500 SF
Lot Size0.06 Acres
Price / SF$316.67
Days on Market96
Property Features for 5 Lower Montcalm Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Carport
View
Lake
High school district
000000
Directions
Rte. 9N into Lake George Village. Right on Lower Montcalm St. at beginning of Shepards Park. Property on right directly behind Lake George Beach Club.
Standard status
Active
APN
522201 251.18-3-55.12
Size
4,500 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
4641
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1950
Floors in Building
3
Building materials
Wood Siding
Listing Agency:
Miranda Real Estate Group Inc
(518) 348-2060
Listed By:
Darlene Zeh · License #40ZE1049998
(518) 527-4026
Added: Jul 13
Changed: Aug 21
Last Checked: Oct 16 at 4:06PM
MLS# 11884676
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This mixed-use property contains approximately 4,500 square feet on a 0.06-acre parcel. The building was formerly operated as a restaurant and includes two residential apartments, creating a combination of commercial and residential space. Wood siding, forced-air heating, public water, and a carport are among the existing features. The property is being sold as is.
Located at 5 Lower Montcalm Street in Lake George Village, the building sits less than 100 feet from Lake George and Shepards Park beach. The setting also places it near shops, restaurants, and additional beaches. Constructed in 1950, the property offers an established mixed-use configuration in a lakefront village setting.
Located at 5 Lower Montcalm Street in Lake George Village, the building sits less than 100 feet from Lake George and Shepards Park beach. The setting also places it near shops, restaurants, and additional beaches. Constructed in 1950, the property offers an established mixed-use configuration in a lakefront village setting.
Key Highlights
- 4,500 square feet of mixed‑use property on a 0.06‑acre parcel
- Former restaurant operation with two residential apartments
- Less than 100 feet from the lake and Shepards Park beach
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,199
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,163,980
$1.2M
Cap Rate 7%
$831,414
$831.4K
Cap Rate 9%
$646,656
$646.7K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$81.0K $18.00/SF
− Vacancy
−$3.4K −$0.76/SF
EGI
$77.6K $17.24/SF
− OpEx
−$19.4K −$4.31/SF
NOI
$58.2K $12.93/SF
Area
Warren County, NY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,163,980
Cap Rate 7%
$831,414
Cap Rate 9%
$646,656
Alternative Uses
Best Use
Specialty Retail
$831.4K
$727.5K – $970.0K
NOI $58,199 @ 7.0% cap · market cap 4.08%
Second Best
Mixed Use
$798.4K
$698.6K – $931.5K
NOI $55,890 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,284 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
Explore this area
Business Placement
Demographics for 12845, NY
4,873
Population
3,441
Households
1.4
Avg Household Size
52
Median Age
37%
College-Educated
94%
High-School Grad
45.0 sq mi
ZIP Area
108
Density / Sq Mi
$95,583
Median Household Income
$50,000
Median Earnings
$1,064
Median Rent
$371,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Former restaurant building with two residential apartments near Lake George and Shepards Park beach.
Where is this mixed-use property located?
The property is located at 5 Lower Montcalm Street Lake George, NY.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: 4,500 square feet of mixed‑use property on a 0.06‑acre parcel; Former restaurant operation with two residential apartments; Less than 100 feet from the lake and Shepards Park beach
