Mixed-Use 5-Unit
62 Lawrence Street Glens Falls, NY 12801
For Sale
$380,000
Pending
Five-unit mixed-use building with two storefronts and three apartments; four units have updated interiors and mechanical systems.
Property Size3,500 SF
Days on Market267
Property Features for 62 Lawrence Street
General Information
- Standard status
- Pending
- Size
- 3,500 SF
- Property subtype
- Multi Family / Multi Family
Building Details
- Year Built
- 1950
Listing Agency:
KW Platform
(518) 281-6808
Listed By:
Scott P Varley · License #30VA0727304
(518) 281-6808
Source:
Compass
Added: Oct 30, 2025
Changed: Jul 22
Last Checked: Jul 23 at 6:47AM
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 KW Platform
Investment Insights
Based on property information with market context.
62 Lawrence Street is a well-maintained five-unit mixed-use property with two storefronts and three apartments. Four of the five units have been updated with new flooring, fixtures, paint, and mechanical systems, supporting a refreshed, ready-to-rent configuration across most of the building.
The property is located in downtown Glens Falls near The Shirt Factory and the Glens Falls Art Trail, with proximity to restaurants, galleries, and community attractions that can support steady pedestrian activity.
Rents are currently below market per the seller’s remarks, creating the opportunity for rental increases upon renewal. The property must be sold as a package with 55 Lawrence Street (MLS# 202528751).
The property is located in downtown Glens Falls near The Shirt Factory and the Glens Falls Art Trail, with proximity to restaurants, galleries, and community attractions that can support steady pedestrian activity.
Rents are currently below market per the seller’s remarks, creating the opportunity for rental increases upon renewal. The property must be sold as a package with 55 Lawrence Street (MLS# 202528751).
Key Highlights
- 5‑unit downtown Glens Falls mixed‑use building with 2 storefronts and 3 apartments
- Four of the five units updated with new flooring, fixtures, paint, and mechanical systems
- Baseboard, electric and natural gas heating; rubber roof; full basement
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.5k | $15.00 |
| − Vacancy | −$4.2k | −$1.20 |
| EGI | $48.3k | $13.80 |
| − OpEx | −$14.5k | −$4.14 |
| NOI | $33.8k | $9.66 |
3,500 SF · lease $15.00/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$483.0K
$422.6K – $563.5K
NOI $33,810 @ 7.0% cap · market cap 8.90%
Second Best
Apartment 5plus
$417.0K
$364.8K – $486.5K
NOI $29,187 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$1.05M
$916.7K – $1.22M
NOI $73,332 @ 7.0% cap · market cap 19.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
1st All Weather ...
Roofing Company
Restore and Decor on Lawrence, ...
General Contractor
FAQs
What type of property is this?
Apartment building - Five-unit mixed-use building with two storefronts and three apartments; four units have updated interiors and mechanical systems.
Where is this apartment building located?
The property is located at 62 Lawrence Street Glens Falls, NY.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: 5‑unit downtown Glens Falls mixed‑use building with 2 storefronts and 3 apartments; Four of the five units updated with new flooring, fixtures, paint, and mechanical systems; Baseboard, electric and natural gas heating; rubber roof; full basement
