Rented Triplex With Off-Street
85 Bay Street, Glens Falls, NY 12801
For Sale
$399,000
Three occupied apartments provide an established residential income property with private parking and varied interior spaces.
Property Size3,516 SF
Price / SF$113.48
Days on Market100
Property Features for 85 Bay Street
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Multifamily Units
Building Details
Year Built
Listing Agency:
Levack Real Estate Inc
Listed By:
R Mark Levack · License NY 31LE0744941
(518) 469-5716
Source:
Signatureonerealtygroup
Added: Aug 6
Changed: Nov 12
Last Checked: Nov 12 at 8:40AM
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 Levack Real Estate Inc
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Investment Insights
Based on property information with market context.
This triplex contains three apartments and 3,516 square feet of property area, with all units currently rented. The first-floor residence offers more than 1,700 square feet, three bedrooms, a large dining room with hardwood flooring, a spacious living room, and a retro-style kitchen. A side entry leads to a laundry and mudroom, adding practical utility to the layout. The property was built in 1900 and includes private off-street parking.
Located at 85 Bay Street in Glens Falls, the property is three blocks from City Park and provides convenient access to downtown. The existing three-unit configuration, occupied apartments, and substantial first-floor residence define the property's current residential income profile.
Located at 85 Bay Street in Glens Falls, the property is three blocks from City Park and provides convenient access to downtown. The existing three-unit configuration, occupied apartments, and substantial first-floor residence define the property's current residential income profile.
Key Highlights
- Three‑apartment triplex with all units currently rented
- 3,516 square feet of property area
- First‑floor apartment exceeds 1,700 square feet and includes 3 bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,136
Cap Rate
8.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$642,720
$642.7K
Cap Rate 7%
$459,086
$459.1K
Cap Rate 9%
$357,067
$357.1K
Market Conditions
NOI Build-Up for 3,516 SF
Gross rent
$49.4K $14.04/SF
− Vacancy
−$3.5K −$0.98/SF
EGI
$45.9K $13.06/SF
− OpEx
−$13.8K −$3.92/SF
NOI
$32.1K $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 Rate 5%
$642,720
Cap Rate 7%
$459,086
Cap Rate 9%
$357,067
Alternative Uses
Best Use
Multifamily LT 5
$459.1K
$401.7K – $535.6K
NOI $32,136 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$418.9K
$366.5K – $488.7K
NOI $29,320 @ 7.0% cap · market cap 7.35%
Theoretical Best
Office A
$1.05M
$920.8K – $1.23M
NOI $73,667 @ 7.0% cap · market cap 18.46%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,936
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied apartments provide an established residential income property with private parking and varied interior spaces.
Where is this triplex located?
The property is located at 85 Bay Street Glens Falls, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Three‑apartment triplex with all units currently rented; 3,516 square feet of property area; First‑floor apartment exceeds 1,700 square feet and includes 3 bedrooms
