Character-Rich Triplex with
New
For Sale
$460,000
56 Amherst St, Lake George, NY 12845
Three-unit property with two enclosed porches and a dedicated garage workroom.
Property Size2,260 SF
Price / SF$203.54
Days on Market2
Property Features for 56 Amherst St
General Information
Standard status
Active
Size
2,260 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Amenities
enclosed front porches
yard
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Country Boy Realty
(518) 861-7016
Listed By:
Clancy Real Estate, Inc · License #10491203035
(518) 861-7016
Source:
Clancyrealestate
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 30 at 3:49PM
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 Country Boy Realty
Investment Insights
Based on property information with market context.
This 2,260-square-foot triplex was built in 1900 and retains original woodwork and other period details. The property includes three residential units, two enclosed front porches, a yard, and a detached two-car garage with a separate workroom that can support storage, maintenance, or hobby use.
Located at 56 Amherst St in Lake George Village, the property sits two blocks from the main commercial corridor. Public beaches, waterfront concerts, restaurants, boutique shopping, mini golf, and additional village attractions are all identified nearby. The setting supports consideration of both traditional residential leasing and short-term rental use, subject to applicable requirements.
Located at 56 Amherst St in Lake George Village, the property sits two blocks from the main commercial corridor. Public beaches, waterfront concerts, restaurants, boutique shopping, mini golf, and additional village attractions are all identified nearby. The setting supports consideration of both traditional residential leasing and short-term rental use, subject to applicable requirements.
Key Highlights
- Three‑unit multifamily property with 2,260 square feet
- Built in 1900 with original woodwork and period character
- Two enclosed front porches and a yard
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
$20,656
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
4.49%
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%
$413,120
$413.1K
Cap Rate 7%
$295,086
$295.1K
Cap Rate 9%
$229,511
$229.5K
Market Conditions
NOI Build-Up for 2,260 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
$31.7K $14.04/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$29.5K $13.06/SF
− OpEx
−$8.9K −$3.92/SF
NOI
$20.7K $9.14/SF
Area
Warren County, NY
Vacancy
7.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
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%
$413,120
Cap Rate 7%
$295,086
Cap Rate 9%
$229,511
Alternative Uses
Best Use
Multifamily LT 5
$295.1K
$258.2K – $344.3K
NOI $20,656 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$269.2K
$235.6K – $314.1K
NOI $18,846 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$676.5K
$591.9K – $789.2K
NOI $47,352 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
557
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with two enclosed porches and a dedicated garage workroom.
Where is this triplex located?
The property is located at 56 Amherst St Lake George, NY.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 2,260 square feet; Built in 1900 with original woodwork and period character; Two enclosed front porches and a yard
