Character-Rich Triplex with
For Sale
$425,000
Pending
56 Amherst St, Lake George, NY 12845
Three-unit property with two enclosed porches and a dedicated garage workroom.
Property Size2,260 SF
Days on Market48
Property Features for 56 Amherst St
General Information
Standard status
Pending
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
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Aug 30
Changed: Oct 15
Last Checked: Oct 16 at 8:24AM
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
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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 / Yr
$20,656
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
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
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 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 4.86%
Second Best
Apartment 5plus
$269.2K
$235.6K – $314.1K
NOI $18,846 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$676.5K
$591.9K – $789.2K
NOI $47,352 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
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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
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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?
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 $425,000.
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
