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    221 Gln St Glens Falls, NY 12801-3598
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    Property profile & analytics

    221 Gln St, Glens Falls, NY 12801-3598

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    • Investment properties
    • 42,636 SF
    • 0.28 lot acres
    Off-Market
    Last Sale Oct 1, 2024
    $2,825,000
    Property ID
    US63-6137113
    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
    $2,825,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • SPoT Coffee / Cafe & Coffee Shop
    • 221 Glen Street / Property Management Company

    Property Details for 221 Gln St

    Year built
    1950
    Lot size
    0.28 lot acres
    Zone code
    CCD
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    520500 302.20-30-11
    APU
    520500302203011

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 1, 2024 $2,825,000 221 Glen LLC Wfcm 2016-c34 Gln St LLC Deed —
    Jan 25, 2022 $4,881,937 Wfcm 2016 C34 Gln St LLC 221 Gln St Rlty Co LLC Deed In Lieu Of Foreclosure · related —
    Dec 23, 2005 $1,000,000 221 Glen Street Realty Co LLC Godnick,gilbert G Warranty Deed —

    Description

    This exceptional mixed-use retail property, located at 221 Glen Street in the heart of Glens Falls, New York's central business district, offers 5,500 square feet of vacant space on the first floor. The building, constructed in 1950 and classified as Class B, boasts a total of 42,636 square feet across a single suite. The property sits on a 0.28-acre lot and is zoned CCD. This presents a unique opportunity for a variety of businesses. The convenient location offers easy access to the downtown area and ample parking is available in a nearby parking garage, just two minutes away. The property's central location makes it ideal for professional offices, civic groups, or children's programs. The building's mixed-use nature provides a vibrant and dynamic environment. This is a rare opportunity to secure a substantial space in a prime location within Warren County, New York, with a zip code of 12801. The property's size and location make it an attractive investment for businesses seeking a prominent presence in the Glens Falls community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,825,000
      ML approach
      $2,825,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $4,270,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Glens Falls
    County
    Warren
    State
    New York
    Longitude
    -73.6451
    Latitude
    43.3106
    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
    $140,700
    $4,281,600
    $4,422,300
    -
    $149,681
    $4,554,893
    $4,704,574

    Comparable in this City

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      44 Walnut St

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      1,608 SF

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      128 Gln St

      OFFICE/RESIDENTIAL (MIXED USE)
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      View Details
    • Value Estimation
      $935,000
      7,168 SF

      380 Gln St

      OFFICE/RESIDENTIAL (MIXED USE)
      380 Gln St, Glens Falls, NY 12801-2930
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Downtown Glens Falls Mixed-Use Property

      Updated mixed-use building with restaurant and apartments in downtown Glens Falls.
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      Mixed-Use Commercial Building For Sale

      Versatile Glens Falls building with retail, warehouse, and office space.
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      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
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      Medical/General Office Space Available

      Professional office space for lease near Glens Falls Hospital.
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    • $1,750 /Mo

      Historic Downtown Retail/Office Space

      Retail or office space in Glens Falls' Empire Theater.
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      View Details
    • $15 SF/Yr
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      Glens Falls Office Space

      Second floor office space near Glens Falls Hospital.
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    • $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
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    Glens Falls, NY 12801-3598
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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.

    More about this property
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