Multifamily Property with Multiple
For Sale
$699,900
84 Court Street, Plattsburgh, NY 12901
Residentially zoned building with multiple units, electric service, and on-site ranges and refrigerators.
Property Size5,352 SF
Days on Market70
Property Features for 84 Court Street
General Information
Standard status
Active
Size
5,352 SF
Total Parking Spaces
10
Property subtype
Residential Income
Zoning
Residential
Taxes and HOA fees
Annual Taxes
$20,047
Amenities
Ceiling Fan(s), Multi Units
Electric
Crawl Space, Dirt Floor
Range, Refrigerator
Ceiling Fan(s), Pantry
City
Asphalt
Other
Building Details
Building Size
5,352 SF
Year Built
1965
Buildings
1
Stories
3
Listing Agency:
RE/MAX North Country
(518) 563-1200
Listed By:
Denise Calkins Ryder · License #30RY0661844
(518) 563-1200
Source:
Evrealestate
Added: Jun 24
Changed: Aug 31
Last Checked: Aug 31 at 2:25PM
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 RE/MAX North Country
Investment Insights
Based on property information with market context.
This multifamily property was built in 1965 and is zoned Residential. The building includes multiple units with electric service, ceiling fans, pantries, ranges, and refrigerators. Additional physical features include a crawl space with a dirt floor and an asphalt exterior surface.
The property is located at 84 Court Street in Plattsburgh, New York. Court Street is a one-way route through the North Catherine Street crossing, with the building positioned on the right when approaching through that intersection.
The property is located at 84 Court Street in Plattsburgh, New York. Court Street is a one-way route through the North Catherine Street crossing, with the building positioned on the right when approaching through that intersection.
Key Highlights
- Multiple‑unit multifamily building
- Residential zoning
- Built in 1965
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
$40,622
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
5.80%
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%
$812,440
$812.4K
Cap Rate 7%
$580,314
$580.3K
Cap Rate 9%
$451,356
$451.4K
Market Conditions
NOI Build-Up for 5,352 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
$80.3K $15.00/SF
− Vacancy
−$6.4K −$1.20/SF
EGI
$73.9K $13.80/SF
− OpEx
−$33.2K −$6.21/SF
NOI
$40.6K $7.59/SF
Area
Clinton County, NY
Vacancy
8.00%
Lease Rate
$15.00 /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%
$812,440
Cap Rate 7%
$580,314
Cap Rate 9%
$451,356
Alternative Uses
Best Use
Apartment 5plus
$580.3K
$507.8K – $677.0K
NOI $40,622 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,272 @ 7.0% cap · market cap 14.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,714
Businesses Nearby
Explore this area
Business Placement
Demographics for 12901, NY
32,147
Population
15,426
Households
2.1
Avg Household Size
38
Median Age
33%
College-Educated
89%
High-School Grad
70.6 sq mi
ZIP Area
455
Density / Sq Mi
$59,413
Median Household Income
$35,385
Median Earnings
$957
Median Rent
$182,100
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 - Residentially zoned building with multiple units, electric service, and on-site ranges and refrigerators.
Where is this multifamily property located?
The property is located at 84 Court Street Plattsburgh, NY.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Multiple‑unit multifamily building; Residential zoning; Built in 1965
