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58 South St 7,103 SF 100% Leased Retail Building Glens Falls, NY 12801 $1,150,000 ($161.90/SF) 13.70% Cap Rate
Investment Highlights
- Remodeled and up to code! Located in the heart of Glens Falls a city that is undergoing one of the largest, most comprehensive revitalizations!
Executive Summary
Located in the heart of the Downtown Glens Falls revitalization project, this fully remodeled building presents an outstanding investment opportunity. Featuring three retail storefronts, all currently leased and generating strong income, along with four apartments, a 10-space off-street parking lot, and a charming outdoor patio, this property has it all. The apartments, currently used for short-term rentals, are equally suited for long-term tenants. Don't miss the chance to own a prime piece of real estate in this vibrant and growing community!
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
7,103 SF
Building Class
B
Year Built/Renovated
1950/2024
Price
$1,150,000
Price Per SF
$161.90
Cap Rate
13.70%
NOI
$157,500
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
11’
Building FAR
1.11
Lot Size
0.15 AC
Opportunity Zone
Yes
Zoning
CCD - Core Commercial District
Parking
10 Spaces (4.33 Spaces per 1,000 SF Leased)
Frontage
Moderately walkable
70/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 520500 309.28-2-7 01 | Improvements Assessment | $422,700 (2024) |
| Land Assessment | $96,900 (2024) | Total Assessment | $519,600 (2024) |
Property Taxes
Parcel Number
520500 309.28-2-7 01
Land Assessment
$96,900 (2024)
Improvements Assessment
$422,700 (2024)
Total Assessment
$519,600 (2024)
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Presented by
eXp Realty
58 South St
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