Furnished Office
For Sale
$469,000
Ny-144 South St, Glens Falls, NY 12801
Downtown commercial space offering a furnishing option for medical, dental, laboratory, or general office use.
Property Size1,900 SF
Price / SF$246.84
Days on Market168
Property Features for Ny-144 South St
General Information
Standard status
Active
Size
1,900 SF
Taxes and HOA fees
Annual Taxes
$8,594
Listing Agency:
Schermerhorn Realty Group LLC
(518) 321-0999
Listed By:
Patricia Ruland
(518) 321-0999
Source:
Exprealty
Added: Mar 17
Changed: Aug 29
Last Checked: Aug 30 at 9:52PM
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 Schermerhorn Realty Group LLC
Investment Insights
Based on property information with market context.
This 1,900-square-foot office building provides a dedicated commercial setting in downtown Glens Falls. The property is positioned for medical, dental, laboratory, or general office use and may be transferred with furnishings, supporting a range of operating formats without requiring an entirely unfurnished buildout.
The property is located on NY-144 South St in Glens Falls, placing the office within the downtown area. Its configuration and stated use potential make it applicable to professional and healthcare-oriented operations seeking an established commercial building. Furnishings are available as part of the sale, subject to the transaction terms.
The property is located on NY-144 South St in Glens Falls, placing the office within the downtown area. Its configuration and stated use potential make it applicable to professional and healthcare-oriented operations seeking an established commercial building. Furnishings are available as part of the sale, subject to the transaction terms.
Key Highlights
- 1,900‑square‑foot office building
- Located in downtown Glens Falls
- Situated on NY‑144 South St
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
$29,412
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
6.27%
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%
$588,240
$588.2K
Cap Rate 7%
$420,171
$420.2K
Cap Rate 9%
$326,800
$326.8K
Market Conditions
NOI Build-Up for 1,900 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
$45.6K $24.00/SF
− Vacancy
−$6.4K −$3.36/SF
EGI
$39.2K $20.64/SF
− OpEx
−$9.8K −$5.16/SF
NOI
$29.4K $15.48/SF
Area
Warren County, NY
Vacancy
14.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$588,240
Cap Rate 7%
$420,171
Cap Rate 9%
$326,800
Alternative Uses
Best Use
Office B
$420.2K
$367.7K – $490.2K
NOI $29,412 @ 7.0% cap · market cap 6.27%
Second Best
Healthcare Medical
$367.3K
$321.4K – $428.5K
NOI $25,712 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$568.7K
$497.6K – $663.5K
NOI $39,809 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,172
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Downtown commercial space offering a furnishing option for medical, dental, laboratory, or general office use.
Where is this office building located?
The property is located at Ny-144 South St Glens Falls, NY.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: 1,900‑square‑foot office building; Located in downtown Glens Falls; Situated on NY‑144 South St
