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    11 South St Glens Falls, NY 12801
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    Property profile & analytics

    11 South St, Glens Falls, NY 12801

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    • Investment properties
    • 20,163 SF
    • 0.24 lot acres
    For Lease
    $18 SF/Yr
    View Listing →
    Historic Building Retail/Office Space For Lease
    $18 SF/Yr

    Historic Building Retail/Office Space

    Retail and office spaces available in historic Empire Theater Building.

    11 South Street, Glens Falls, NY 12801
    View Listing
    Property ID
    US63-2232684
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Economic Development Corporation / Charitable Organization / Social Service Agency
    • Guiding Steps Dance Studio / Training Center
    • Mc Carthy & Conlon LLP / Accounting Firm / Tax Preparation
    • Flight Wine Bar & Restaurant / Restaurant
    • Adirondack/Glens Falls Transportation Council / Local Government Office

    Property Details for 11 South St

    Year built
    1950
    Lot size
    0.24 lot acres
    Zone code
    CCD
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    520500 302.20-27-4
    APU
    52050030220274

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 25, 2008 $464,000 Empire Theater Plaza LLC Bank Glens Falls Natl Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,309,000
      Market price range: $1.29M - $2.94M
      AI Estimate
      $2,294,000
      Market price range: $1.09M - $2.84M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,020,000
      Current use
      RESTAURANT
      $3,695,000
      Change: +83% Conversion: Difficult
      OFFICE BUILDING
      $2,820,000
      Change: +40% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Glens Falls
    County
    Warren
    State
    New York
    Longitude
    -73.647
    Latitude
    43.3105
    CBSA code
    24020
    CBSA name
    GLENS FALLS, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $0.00
    $130,600
    $1,805,600
    $1,936,200
    -
    $138,936
    $1,920,851
    $2,059,787

    Comparable in this City

    • Value Estimation
      $1,255,000
      11,400 SF

      282-286 Gln St

      OFFICE/RESIDENTIAL (MIXED USE)
      282-286 Gln St, Glens Falls, NY 12801
      View Details
    • Value Estimation by Request
      1,326 SF

      93 Ss St

      OFFICE/RESIDENTIAL (MIXED USE)
      93 Ss St, Glens Falls, NY 12801-4309
      View Details
    • Value Estimation by Request
      1,664 SF

      44 Walnut St

      OFFICE/RESIDENTIAL (MIXED USE)
      44 Walnut St, Glens Falls, NY 12801-3230
      View Details
    • Value Estimation
      $585,000
      1,608 SF

      166 Dix Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      166 Dix Ave, Glens Falls, NY 12801-3241
      View Details
    • Value Estimation
      $2,825,000
      42,636 SF

      221 Gln St

      OFFICE/RESIDENTIAL (MIXED USE)
      221 Gln St, Glens Falls, NY 12801-3598
      View Details
    • Value Estimation by Request
      4,290 SF

      128 Gln St

      OFFICE/RESIDENTIAL (MIXED USE)
      128 Gln St, Glens Falls, NY 12801-4432
      View Details

    Similar Nearby for Sale

    • $1,450,000

      Remodeled Mixed-Use Building in Glens Falls

      Fully remodeled mixed-use building with retail and residential units.
      58-66 South St, Glens Falls, NY 12801
      View Details
    • Contact for pricing
      4,195 SF

      Downtown Glens Falls Mixed-Use Property

      Updated mixed-use building with restaurant and apartments in downtown Glens Falls.
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      8,000 SF

      Mixed-Use Commercial Building For Sale

      Versatile Glens Falls building with retail, warehouse, and office space.
      193 Dix Ave, Glens Falls, NY 12801
      View Details
    • Contact for pricing

      Remodeled Mixed-Use Building in Glens Falls

      Fully remodeled mixed-use building with retail and residential units.
      58-66 South St, Glens Falls, NY 12801
      View Details
    • $310,000
      2,888 SF

      Downtown Glens Falls Mixed-Use Investment

      Well-maintained 4-unit property with storefronts and apartments in downtown Glens Falls.
      55 Lawrence St, Glens Falls, NY 12801
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    • $3,750,000
      72,000 SF

      Mixed-Use Buildings in Fenimore Square

      Two buildings with redevelopment potential in prime location.
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    Similar Nearby for Lease

    • $14 SF/Yr
      302,484 SF

      Class A Office Space Available

      Class A office space for rent in Glens Falls.
      333 Glen St, Glens Falls, NY 12801
      View Details
    • Contact for pricing
      302,484 SF

      Class A Office Space Available

      Class A office space for rent in Glens Falls.
      333 Glen St, Glens Falls, NY 12801
      View Details
    • $10 SF/Yr
      6,301 SF

      Medical/General Office Space Available

      Professional office space for lease near Glens Falls Hospital.
      45 Hudson Ave, Glens Falls, NY 12801
      View Details
    • $1,750 /Mo

      Historic Downtown Retail/Office Space

      Retail or office space in Glens Falls' Empire Theater.
      11 South St, Glens Falls, NY 12801
      View Details
    • $15 SF/Yr
      7,692 SF

      Glens Falls Office Space

      Second floor office space near Glens Falls Hospital.
      84 Broad Street Plz, Glens Falls, NY 12801
      View Details
    • $15 SF/Yr
      4,500 SF

      Glens Falls Commercial Building

      Freestanding commercial building ideal for retail, medical, or office use.
      222 Dix Ave, Glens Falls, NY 12801
      View Details
    View Listing
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    Glens Falls, NY 12801
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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