Brick Retail Space with
For Sale
Contact for pricing
61 Elmwood Avenue, Gloversville, NY 12078
A bright main-floor storefront is complemented by a separate lower level for storage or inventory.
Property Size4,000 SF
Price / SF$0.50
Days on Market26
Property Features for 61 Elmwood Avenue
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Business
Building Details
Year Built
1997
Buildings
1
Construction
brick
Listing Agency:
Coldwell Banker Prime Properties
(518) 762-9885
Listed By:
Fermina B Clet · License #10401342270
(518) 775-8446
Source:
Simplywoodardrealestate
Added: Oct 9
Changed: Nov 2
Last Checked: Nov 1 at 2:58PM
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 Coldwell Banker Prime Properties
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail space occupies a brick building constructed in 1997, with 2,000 square feet on the main floor and an additional 2,000-square-foot basement. Natural light reaches the main-floor area, while the lower level can accommodate storage and merchandise inventory.
The property is on a corner lot near Arterial Plaza at 61 Elmwood Avenue in Gloversville, New York. The space is presented for retail or professional business use.
The property is on a corner lot near Arterial Plaza at 61 Elmwood Avenue in Gloversville, New York. The space is presented for retail or professional business use.
Key Highlights
- 2,000 square feet of main‑floor retail space
- Additional 2,000‑square‑foot basement
- Brick building constructed in 1997
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,661
Suggested Prices Based on Cap Rates
Cap Rate 5%
$753,220
$753.2K
Cap Rate 7%
$538,014
$538.0K
Cap Rate 9%
$418,456
$418.5K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$56.2K $14.04/SF
− Vacancy
−$2.4K −$0.59/SF
EGI
$53.8K $13.45/SF
− OpEx
−$16.1K −$4.04/SF
NOI
$37.7K $9.42/SF
Area
Fulton County, NY
Vacancy
4.20%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$753,220
Cap Rate 7%
$538,014
Cap Rate 9%
$418,456
Alternative Uses
Best Use
Retail
$538.0K
$470.8K – $627.7K
NOI $37,661 @ 7.0% cap · market cap 1,883.05%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.77M
$2.42M – $3.23M
NOI $193,569 @ 7.0% cap · market cap 9,678.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 12078, NY
23,009
Population
11,668
Households
2
Avg Household Size
44
Median Age
18%
College-Educated
87%
High-School Grad
110.8 sq mi
ZIP Area
208
Density / Sq Mi
$54,565
Median Household Income
$36,769
Median Earnings
$908
Median Rent
$122,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - A bright main-floor storefront is complemented by a separate lower level for storage or inventory.
Where is this retail space located?
The property is located at 61 Elmwood Avenue Gloversville, NY.
What are key features of this property?
This property features: 2,000 square feet of main‑floor retail space; Additional 2,000‑square‑foot basement; Brick building constructed in 1997
