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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    55 Elm St Glens Falls, NY 12801-3670

    • Office buildings
    • 3,197 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Apr 01, 2024
    $750,000
    Value Estimations
    $725,000
    Show details
    Cap Rate Potential
    7%
    Office buildings
    Location Intelligence
    Property ID
    US63-5554183
    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.

    Current Use by Public Records

    • Joanne Della Valle / Social Worker
    • Conifer park / Mental Health Service / Addiction Treatment Center
    • Jennifer Rock / Counselor
    • Joseph Lacoppola / Counselor
    • Richard Rosoff / Counselor

    Property Details for 55 Elm St

    Year built
    1960
    Lot size
    0.17 lot acres
    Property size
    3,197 SF
    Zone code
    GC1
    Property type
    Office buildings
    APN
    520500 302.20-22-15
    APU
    520500302202215

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $750,000
      ML approach
      $750,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $880,000
      6.5%
      $810,000
      7%
      $755,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $502,000
      Market price range: $326k - $596k

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

    Location Insight

    • Map
    • Local Demand
    City
    Glens Falls
    County
    Warren
    State
    New York
    Longitude
    -73.6498
    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
    $79,700
    $280,000
    $359,700
    -
    $84,787
    $297,873
    $382,660

    Comparable in this City

    • Value Estimation
      $470,000
      8,078 SF

      33-35 Western Ave

      OFFICE BUILDING • 8,078 SF
      33-35 Western Ave, Glens Falls, NY 12801
      View Details
    • Value Estimation
      $405,000
      8,855 SF

      41 Western Ave

      PROFESSIONAL BUILDING • 8,855 SF
      41 Western Ave, Glens Falls, NY 12801-3313
      View Details
    • Value Estimation
      $340,000
      13,461 SF

      237 Gln St

      OFFICE BUILDING • 13,461 SF
      237 Gln St, Glens Falls, NY 12801-3507
      View Details
    • Value Estimation
      $545,000
      20,636 SF

      101 Rdg St

      OFFICE BUILDING • 20,636 SF
      101 Rdg St, Glens Falls, NY 12801-3624
      View Details
    • Value Estimation
      $535,000
      21,406 SF

      68 Warren St

      OFFICE BUILDING • 21,406 SF
      68 Warren St, Glens Falls, NY 12801-4530
      View Details
    • Value Estimation
      $420,000
      10,050 SF

      25 Pne St

      PROFESSIONAL BUILDING • 10,050 SF
      25 Pne St, Glens Falls, NY 12801
      View Details

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      3,744 SF office building in downtown Glens Falls.
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    Similar Nearby for Lease

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      Adaptable Office Space For Rent

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      Retail/Office Suite on Bay Street

      Retail or office space available for lease with street parking.
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      Modern Office Suite For Lease

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      7,692 SF

      Glens Falls Office Space

      Second floor office space near Glens Falls Hospital.
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      View Details
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    55 Elm St
    Glens Falls, NY 12801-3670
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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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