Triplex with Lake
New
For Sale
$379,900
74 Amherst St, Lake George, NY 12845
Three separate apartments are zoned for short-term rentals and suited to seasonal or year-round occupancy.
Property Size2,256 SF
Price / SF$168.40
Days on Market1
Property Features for 74 Amherst St
General Information
Standard status
Active
Size
2,256 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
in need of updating
Additional Details
Multifamily Units
3
Amenities
partially fenced yard
shed
Building Details
Year Built
1900
Listing Agency:
Howard Hanna Capital Inc
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Sep 6
Last Checked: Sep 6 at 2:34PM
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 Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
This 2,256-square-foot triplex, built in 1900, contains three separate apartments and offers a multi-unit layout for renovation and repositioning. The property requires updating and includes a large partially fenced yard, shed, and views toward Lake George. Short-term-rental zoning supports seasonal or year-round use.
Located at 74 Amherst St in Lake George, the property is near Canada Street, local shops, restaurants, beaches, and area attractions. It also borders town-owned land, adding open space and separation along the property edge. The combination of three apartments, outdoor space, and a destination-oriented setting provides a clear foundation for a future multi-unit rental or retreat property.
Located at 74 Amherst St in Lake George, the property is near Canada Street, local shops, restaurants, beaches, and area attractions. It also borders town-owned land, adding open space and separation along the property edge. The combination of three apartments, outdoor space, and a destination-oriented setting provides a clear foundation for a future multi-unit rental or retreat property.
Key Highlights
- Three separate apartments in a 2,256‑square‑foot triplex
- Built in 1900 and in need of updating
- Zoned for short‑term rentals
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
$20,620
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
5.43%
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%
$412,400
$412.4K
Cap Rate 7%
$294,571
$294.6K
Cap Rate 9%
$229,111
$229.1K
Market Conditions
NOI Build-Up for 2,256 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
−$8.8K −$3.92/SF
NOI
$20.6K $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%
$412,400
Cap Rate 7%
$294,571
Cap Rate 9%
$229,111
Alternative Uses
Best Use
Multifamily LT 5
$294.6K
$257.8K – $343.7K
NOI $20,620 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$268.8K
$235.2K – $313.6K
NOI $18,813 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$675.3K
$590.9K – $787.8K
NOI $47,268 @ 7.0% cap · market cap 12.44%
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
523
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate apartments are zoned for short-term rentals and suited to seasonal or year-round occupancy.
Where is this triplex located?
The property is located at 74 Amherst St Lake George, NY.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Three separate apartments in a 2,256‑square‑foot triplex; Built in 1900 and in need of updating; Zoned for short‑term rentals
