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FOR SALE
Turn key restaurants
20-22 Main St, South Glens Falls, NY 12803
Individually Owned
19-yr Hold
Absentee Owner
Free & Clear
Property ID
US63-3195476
For Sale
1 / 13
$349,000
20-22 Main St, South Glens Falls, NY 12803
View Listing →
Property summary
AI-generated overview
This exceptional 0.98-acre commercial land parcel, located at 20-22 Main Street in South Glens Falls, NY 12803, presents a unique development opportunity. Situated at the corner of Main Street and Second Avenue, this property boasts excellent visibility and accessibility, benefiting from two points of ingress and egress. Previously occupied by a McDonald's, the site enjoys a prominent location easily seen when crossing the bridge from Glens Falls. The C1 zoning allows for a wide range of uses, including retail, medical facilities, mixed-use developments, and office spaces. This makes it an attractive investment for developers seeking a high-traffic location with significant potential. The property's size and zoning flexibility offer considerable scope for creative and profitable ventures. The asking price is $350,000. Don't miss this chance to acquire a prime commercial site in a thriving area. Serious inquiries only.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1978
Total area
4,370 SF
Lot
0.98 ac (42,689 SF)
Zoning code
C1
APN
414401 37.45-1-31
UPID
US63-3195476
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Hui Chen · 19 yrs held
Hui Chen
since 2007
1 recorded transaction
Zoning & alternative use
C1 · Queensbury, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs South Glens Falls submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Glens Falls submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$450,000
Assessed 2023
Previous assessed
$425,000
+5.9% YoY
Assessed land
$189,400
Assessed improvement
$260,600
Land market value
$189,400
Improvement market value
$260,600
Total market value
$450,000
Applied tax rate
414,401.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
1978
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
4,370 SF
Lot
0.98 ac (42,689 SF)
Zoning code
C1
APN
414401 37.45-1-31
UPID
US63-3195476
Jurisdiction
SARATOGA
Zoning & alternative use
C1 · Queensbury, NY
Zoning C1 · permitted uses
C1 · Queensbury, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Queensbury. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1978
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
0.98 ac
Current owner
From public records · entity-resolved
Hui Chen
Individual
Free & Clear · 19 yrs held
Mailing address
202 BALLSTON AVE, SARATOGA SPRINGS, NY 12866-4720
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 2, 2007
$475,000
Hui Chen
Hoffis,betty
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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