Student-Rented Apartment
For Sale
$355,000
Pending
5058 S Catherine Street, Plattsburgh, NY 12901
Commercial Sale, Plattsburgh, NY
Property Size2,856 SF
Lot Size0.17 Acres
Days on Market96
Property Features for 5058 S Catherine Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot, Off Street
Interior features
Apartment, High Speed Internet
Basement
Full, Unfinished
Appliances
Electric Range, Electric Water Heater, Refrigerator
Elementary school district
Plattsburgh
Middle school district
Plattsburgh
High school district
Plattsburgh
Directions
Broad Street to So Catherine, on left before Battery St.
Subdivision
City of Plattsburgh
Standard status
Pending
APN
221.7-2-22
Size
2,856 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
10394
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Electric (Heating)
Water source
Public
Building Details
Year built
1999
Floors in Building
2
Building materials
Wood Siding
Roof type
Flat, Membrane
Listing Agency:
Century 21 The One · Century 21 Real Estate
(518) 563-7350
Listed By:
Patrick Holcombe
(518) 593-1111
Added: Jun 1
Changed: Sep 4
Last Checked: Sep 4 at 9:06PM
MLS# 207440
Copyright © 2026 Adirondack Champlain Valley MLS. 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 four-apartment building in Plattsburgh contains 2,856 square feet and 10 total bedrooms on a 0.17-acre lot. The property is rented to students and includes remodeled kitchens, bathrooms, plumbing, and electrical systems. Electric baseboard heating, electric ranges, refrigerators, and electric water heaters serve the apartments. Wood siding and a flat membrane roof complete the building envelope.
A new membrane roof was installed in 2022, and new hot-water tanks were added in 2024. The property was built in 1999 and includes a parking lot with off-street parking. Public water and public sewer serve the site. Some leases are already in place for 2026/2027, with 48-hour notice required for showings.
A new membrane roof was installed in 2022, and new hot-water tanks were added in 2024. The property was built in 1999 and includes a parking lot with off-street parking. Public water and public sewer serve the site. Some leases are already in place for 2026/2027, with 48-hour notice required for showings.
Key Highlights
- Four‑apartment building with 10 total bedrooms
- 2,856 SF building on a 0.17‑acre lot
- Kitchens, bathrooms, plumbing, and electrical systems remodeled
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
$21,677
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
6.11%
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%
$433,540
$433.5K
Cap Rate 7%
$309,671
$309.7K
Cap Rate 9%
$240,856
$240.9K
Market Conditions
NOI Build-Up for 2,856 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
$42.8K $15.00/SF
− Vacancy
−$3.4K −$1.20/SF
EGI
$39.4K $13.80/SF
− OpEx
−$17.7K −$6.21/SF
NOI
$21.7K $7.59/SF
Area
Clinton County, NY
Vacancy
8.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
45.00%
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%
$433,540
Cap Rate 7%
$309,671
Cap Rate 9%
$240,856
Alternative Uses
Best Use
Apartment 5plus
$309.7K
$271.0K – $361.3K
NOI $21,677 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$787.3K
$688.9K – $918.5K
NOI $55,109 @ 7.0% cap · market cap 15.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,156
Businesses Nearby
Explore this area
Business Placement
Demographics for 12901, NY
32,147
Population
15,426
Households
2.1
Avg Household Size
38
Median Age
33%
College-Educated
89%
High-School Grad
70.6 sq mi
ZIP Area
455
Density / Sq Mi
$59,413
Median Household Income
$35,385
Median Earnings
$957
Median Rent
$182,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Remodeled kitchens, bathrooms, plumbing, and electrical systems complement recent roof and hot-water-tank replacements.
Where is this apartment building located?
The property is located at 5058 S Catherine Street Plattsburgh, NY.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Four‑apartment building with 10 total bedrooms; 2,856 SF building on a 0.17‑acre lot; Kitchens, bathrooms, plumbing, and electrical systems remodeled
