Multifamily Property with Separate
For Sale
$299,000
64 Hunter Street, Glens Falls, NY 12801
Income-producing multifamily asset serving the Jackson Heights school district with individually separated utilities.
Property Size2,732 SF
Price / SF$109.44
Days on Market38
Property Features for 64 Hunter Street
General Information
Standard status
Active
Size
2,732 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$6,486
Building Details
Year Built
1900
Listing Agency:
Hometown RE & Property Mgmt
(518) 744-5751
Listed By:
James J Papa
(518) 744-5751
Source:
Capmarkrealty
Added: Jul 24
Changed: Aug 28
Last Checked: Aug 29 at 6:16AM
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 Hometown RE & Property Mgmt
Investment Insights
Based on property information with market context.
This multifamily property contains 2,732 square feet and was constructed in 1900. Separate utility systems serve the property, supporting straightforward allocation of utility responsibilities.
The building is located at 64 Hunter Street in Glens Falls, New York, within the Jackson Heights school district. The property is offered for sale.
The building is located at 64 Hunter Street in Glens Falls, New York, within the Jackson Heights school district. The property is offered for sale.
Key Highlights
- 2,732‑square‑foot multifamily property
- Built in 1900
- Separate utilities for the property
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
$22,782
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
7.62%
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%
$455,640
$455.6K
Cap Rate 7%
$325,457
$325.5K
Cap Rate 9%
$253,133
$253.1K
Market Conditions
NOI Build-Up for 2,732 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
$43.6K $15.96/SF
− Vacancy
−$2.2K −$0.80/SF
EGI
$41.4K $15.16/SF
− OpEx
−$18.6K −$6.82/SF
NOI
$22.8K $8.34/SF
Area
Warren County, NY
Vacancy
5.00%
Lease Rate
$15.96 /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%
$455,640
Cap Rate 7%
$325,457
Cap Rate 9%
$253,133
Alternative Uses
Best Use
Apartment 5plus
$325.5K
$284.8K – $379.7K
NOI $22,782 @ 7.0% cap · market cap 7.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$817.7K
$715.5K – $954.0K
NOI $57,241 @ 7.0% cap · market cap 19.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
Explore this area
Business Placement
Demographics for 12801, NY
14,850
Population
7,287
Households
2
Avg Household Size
40
Median Age
33%
College-Educated
90%
High-School Grad
3.8 sq mi
ZIP Area
3,908
Density / Sq Mi
$70,019
Median Household Income
$46,700
Median Earnings
$1,050
Median Rent
$196,000
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?
Multifamily property - Income-producing multifamily asset serving the Jackson Heights school district with individually separated utilities.
Where is this multifamily property located?
The property is located at 64 Hunter Street Glens Falls, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 2,732‑square‑foot multifamily property; Built in 1900; Separate utilities for the property
