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    Fourth Lake Multi-Family Cottage Retreat Title is generated by Realmo AI

    150 Kenmore Road, Old Forge, NY 13420

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    Claim this Listing
    For Sale
    $2,500,000

    MULTI_FAMILY - Cottage - Old Forge, NY

    Property size:
    4,426 SF
    Lot size:
    2.40 Acres
    Price / SF:
    $564/SF
    Added:
    Jul 1, 2025
    Days on Market:
    324
    Last Refresh:
    May 20 at 4:06 am

    Property Features for 150 Kenmore Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Residential
    Parking
    12
    Parking features
    Paved or Surfaced, Open, Parking Lot
    Security features
    Security Lighting
    Window features
    Screens, Insulated Windows, Double Pane Windows, Blinds
    Patio and Porch features
    Deck, Porch
    Interior features
    Granite Counters, Eat-in Kitchen, Kitchen Island, Recessed Lighting
    Exterior features
    Dock, Outdoor Grill, Storage
    Dock
    1
    Fencing
    Privacy
    Fireplace
    1
    Basement
    Crawl Space
    Appliances
    Dishwasher, Double Oven, Dryer, Electric Cooktop, Electric Oven, Electric Water Heater, Free-Standing Electric Oven, Free-Standing Electric Range, Microwave, Range Hood, Refrigerator, Stainless Steel Appliance(s), Vented Exhaust Fan, Washer, Washer/Dryer, Washer/Dryer Stacked
    Standard status
    Active
    APN
    039.31-1-16
    Size
    4,426 SF
    Lot size
    2.40 Acres

    Taxes and HOA fees

    Tax Annual Amount
    8921

    Utilities

    Utilities
    Propane
    Sewer type
    Septic Tank
    Heating system
    Electric (Heating), Wood
    Cooling system
    Central Air
    Water source
    Well
    Water front features
    Beach Front, Lake Front, Waterfront, Lake
    Water front
    1

    Building Details

    Year built
    1910
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Laminate
    Building materials
    Asphalt, Foam Insulation, Spray Foam Insulation, Wood Siding
    Roof type
    Asphalt
    Architectural style
    Cottage
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Sandra Albert

    Listing agent Sandra Albert

    Listing office Timm Associates Sothebys International Realty PO Box 101 2972 Main Street, Old Forge, NY

    Listing date Jul 1, 2025

    MLS# 205124 Listing URL

    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.

    HighLights

    • 2. 4‑acre property with 100 feet of lake frontage on Fourth Lake.
    • Four charming camps: a renovated 4‑bedroom lakeside home, two year‑round cottages (3 and 4 bedrooms), and a 1‑bedroom seasonal cottage.
    • Income‑generating potential through winter long rentals and summer short‑term rentals; offered fully furnished and turnkey.
    • Sandy, gradual sloping beach and dock.
    • Panoramic lake views from the main house's spacious front porch and the hilltop cottages.
    • Onsite water treatment system in a dedicated, insulated outbuilding.

    Overview

    This 2.4-acre property, situated on the northern shore of Fourth Lake, presents a versatile opportunity suitable for a large family compound, corporate retreat, or income-generating rental investment. The property features 100 feet of lake frontage and includes four cottages. The centerpiece is a renovated, year-round lakeside home with 4 bedrooms, 2 baths, a stone fireplace, and a front porch offering lake views. Two additional year-round cottages, one with 3 bedrooms and another with 4 bedrooms, are located on a hill and provide views of Fourth Lake. A one-bedroom seasonal cottage is also included. The property includes a sandy, gradual sloping beach, ample parking, two storage sheds, and an insulated outbuilding housing an onsite water treatment system. Currently used for winter long rentals and summer short-term rentals, the property is being offered fully furnished and turnkey.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wiggand's Old Forge ... Vacation Rental

    Suggested Use

    Real Estate Agency Spa & Massage Center Restaurant Gym & Fitness Center Department Store Storage Facility Grocery & Convenience Store Garden Center Grocery & Convenience Store Cafe & Coffee Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Old Forge
    County
    Herkimer
    State
    New York
    Longitude
    -74.833145
    Latitude
    43.766876

    Nearby Similar for Sale

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      2888 NY-28, Old Forge, NY 13420
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    • $499,000
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      COMMERCIAL - Old Forge, NY

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    FAQs

    What type of property is this?
    Short term rental property - Rare 2.4-acre lakefront property with four cottages and rental potential.
    Where is this short term rental property located?
    The property is located at 150 Kenmore Road Old Forge, NY.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: 2. 4‑acre property with **100 feet of lake frontage on Fourth Lake.**; Four charming camps: a renovated 4‑bedroom lakeside home, two year‑round cottages (3 and 4 bedrooms), and a 1‑bedroom seasonal cottage.; **Income‑generating potential** through winter long rentals and summer short‑term rentals; offered fully furnished and turnkey.
    (315) 790-9760
    We can help!
    Listing Contact
    Sandra Albert
    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.

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