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    12134 Rt 9N Upper Jay, NY 12987

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    Claim this Listing
    For Sale
    $900,000

    COMMERCIAL - Upper Jay, NY

    Property size:
    3,855 SF
    Lot size:
    1.80 Acres
    Price / SF:
    $233/SF
    Added:
    Jun 25, 2025
    Days on Market:
    308
    Last Refresh:
    Apr 28 at 10:06 pm

    Property Features for 12134 Rt 9N

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Exterior features
    Garden
    Basement
    Crawl Space, Exterior Entry, Unfinished
    Appliances
    Cooktop, Dishwasher, Exhaust Fan, Free-Standing Freezer, Free-Standing Gas Range, Free-Standing Refrigerator, Gas Cooktop, Gas Range, Oven, Refrigerator, Vented Exhaust Fan, Washer/Dryer, Water Heater
    Standard status
    Active
    Size
    3,855 SF
    Lot size
    1.80 Acres

    Taxes and HOA fees

    Tax Annual Amount
    6347

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Septic Tank
    Heating system
    Oil
    Cooling system
    Multi Units, Wall Unit(s)
    Water source
    Public

    Building Details

    Year built
    1860
    Flooring type
    Hardwood, Laminate, Tile
    Building materials
    Wood Siding
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Brooks H. Reynolds

    Listing agent Brooks H. Reynolds

    Listing office The Reynolds Group of Lake Placid, LLC 2051 Saranac Ave Suite 102A, Lake Placid, NY

    Listing date Jun 25, 2025

    MLS# 205028

    Copyright © 2026 Adirondack Champlain Valley MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Turnkey Restaurant and Lodging Property

    This turnkey restaurant and lodging property is situated on a 1.8-acre parcel along the East Branch of the Ausable River. The 3,855 sq. ft. building features a commercial kitchen installed in 2020 with a dedicated septic system, a 10' hood, new True Refrigeration, and a high-temp dishwasher. The property also includes a new roof installed in 2025 and new windows installed in 2019, as well as a backup generator. The restaurant seats over 30 patrons, with an additional 12+ seasonal seats available on the wraparound porch. A strong takeout business and loyal customer base support consistent year-round activity. The property includes a 5-bedroom, 2-bath Adirondack-themed vacation rental upstairs, part of the property's 7-bedroom, 3.5-bath total layout, which also includes a sitting room and billiards room. The lodging component holds a 4.9-star rating on Google. Additional features include a two-story barn with workshop and storage, a finished 14*10 office with rental history, a 30'x90' fenced garden, on-site parking for 30 vehicles, and 250 feet of river frontage. The property is located 6 miles from Whiteface Mountain, 15 miles from Lake Placid, and 5 miles from Keene. The property is intended for use as a restaurant and lodging business.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bed & breakfasts

    Map

    City
    Upper Jay
    County
    Essex
    State
    New York
    Longitude
    -73.774145
    Latitude
    44.33226

    FAQs

    What type of property is this?
    Bed & breakfast - Restaurant and lodging property with river frontage near Whiteface Mountain.
    Where is this bed & breakfast located?
    The property is located at 12134 Rt 9N Upper Jay, NY.
    What is the asking price?
    The asking price for this property is $900,000.
    What are key features of this property?
    This property features: Turnkey restaurant and lodging property with established business.; Scenic 1.8‑acre parcel with **250 feet of river frontage** on the East Branch of the Ausable River.; Newly renovated commercial kitchen (2020) with dedicated septic, 10' hood, and new appliances.
    (518) 524-4058
    We can help!
    Listing Contact
    Brooks H. Reynolds
    Learn More
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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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