9 River Street Saranac Lake, NY 12983
New
COMMERCIAL - Saranac Lake, NY
Property size:
6,811 SFLot size:
0.27 AcresPrice / SF:
$176/SF- Added:
- May 2, 2026
- Days on Market:
- 1
- Last Refresh:
- May 2 at 7:06 pm
Property Features for 9 River Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Commercial
- Parking features
- Paved or Surfaced
- Interior features
- Apartment, Beamed Ceilings, Coffered Ceiling(s), High Ceilings, Kitchen Island, Recessed Lighting
- Exterior features
- Balcony
- Fencing
- Privacy
- Standard status
- Active
- APN
- 447.77-8-16
- Size
- 6,811 SF
- Lot size
- 0.27 Acres
Taxes and HOA fees
- Tax Annual Amount
- 11865
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard, Propane (Heating), Oil
- Water source
- Public
Building Details
- Year built
- 1880
- Flooring type
- Vinyl, Tile, Hardwood
- Building materials
- Brick, Vinyl Siding
- Roof type
- Metal, Asphalt
Listing agent Chase Jermano (518) 637-5272
Listing office Tina Leonard Real Estate, LLC 2577 Main Street, Lake Placid, NY (518) 523-3224
Listing date May 2, 2026
MLS# 207102
Copyright © 2026 Adirondack Champlain Valley MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Overview
Multifamily Investment Opportunity Near Lake Flower
This 9-unit multifamily property is situated directly across from Lake Flower and Riverside Park. The property delivers immediate cash flow with significant upside. The current gross income is $11,550 per month with rents running below market. The next owner inherits a stabilized asset and a clear path to forced appreciation. Unit 1 was recently renovated, establishing a proven value-add template for the portfolio. Units 5 and 7 offer private shared balcony access with lake and mountain views. Unit 7, the owner's suite, features 3 beds, 2 baths, a Jacuzzi tub, skylights, a wood stove fireplace, a custom kitchen, and in-unit laundry. Most tenants cover their own utilities. Coin-operated basement laundry generates additional ancillary income. An on-site property manager resides in the building at reduced rent. Extensive foundation work was completed by the prior owner. Riverside Park hosts free live music and a weekly farmers market during the warmer months. Four-season tourism demand, protected land supply, a tight rental market, and a high cap rate make this a compelling long-term hold. The property is located in Saranac Lake, NY, in Franklin County. The lot size is 0.27 acres, and the property size is 6811 square feet. The zoning is commercial.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Saranac Lake
- County
- Franklin
- State
- New York
- Longitude
- -74.131152
- Latitude
- 44.32525
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Nine-unit multifamily property with immediate cash flow and upside potential.
Where is this apartment building located?
The property is located at 9 River Street Saranac Lake, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Immediate cash flow with significant upside potential due to below‑market rents.; Prime location directly across from Lake Flower and Riverside Park.; Unit 7 (owner's suite) features 3 beds, 2 baths, Jacuzzi tub, skylights, wood stove fireplace, custom kitchen, and in‑unit laundry.
