Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    4891 State Route 3 Star Lake, NY 13690

    View on Map
    Claim this Listing
    For Sale
    $5,399,000

    LAND - Star Lake, NY

    Lot size:
    3,190.00 Acres
    Added:
    Oct 23, 2024
    Days on Market:
    559
    Last Refresh:
    May 4 at 10:06 am

    Property Features for 4891 State Route 3

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    215.000-1-1.1
    Lot size
    3,190.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    35613

    Utilities

    Water front features
    Navigable Water, Creek, River Front, Waterfront, Lake
    Water front
    1

    We can help!

    Listing Contact
    Lisa Gillis

    Listing agent Lisa Gillis

    Listing office Merrill L. Thomas - Gillis Team 80 Park St, Tupper Lake, NY

    Listing date Oct 23, 2024

    MLS# 203322 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.

    Overview

    Adirondack Timberland Estate with Lake

    This 3,190-acre Adirondack timberland estate, known as Little River Lake Forest, is located in New York's northern Adirondacks. The property includes the 215-acre Little River Lake, offering privacy and scenic views with 29,000 feet of shoreline. The lake stretches nearly two-and-a-half miles, with an average depth of 10 feet and a maximum depth of 30 feet, and is home to largemouth bass and brook trout. The shoreline features a mix of deciduous and coniferous trees. The property also includes a historic dam, constructed in 1953, spanning over 1,400 feet and rising nearly 45 feet high. Originally built to support the nearby Benson Mines' iron ore operations, the dam presents an opportunity for hydropower generation. The timber resource is dominated by hardwood species such as sugar maple, yellow birch, red maple, and cherry. The southern section of the estate, with over 900 acres, has the potential for 25,000 taps, making it suitable for maple syrup production.
    Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Star Lake
    County
    St. Lawrence
    State
    New York
    Longitude
    -74.973655
    Latitude
    44.161125

    Nearby Similar for Sale

    • $59,500

      Star Lake Land Opportunity

      6.5-acre lot in Star Lake, perfect for building.
      933,935 Oswegatchie Trail Road, Star Lake, NY 13690
      View Details
    • $69,900

      Adirondack Land with Recreational Potential

      60+ acres of wooded Adirondack land with trails and potential.
      Off Oswegatchie Trail Road, Star Lake, NY 13690
      View Details

    FAQs

    What type of property is this?
    Farm - 3,190-acre Adirondack timberland estate featuring a 215-acre lake.
    Where is this farm located?
    The property is located at 4891 State Route 3 Star Lake, NY.
    What is the asking price?
    The asking price for this property is $5,399,000.
    What are key features of this property?
    This property features: Exclusive 215‑acre Little River Lake with 29,000 feet of shoreline.; Vast 3,190‑acre Adirondack timberland estate.; Historic dam (1,400 feet long, 45 feet high) offering potential for hydropower generation.
    (518) 354-1666
    We can help!
    Listing Contact
    Lisa Gillis
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    4891 State Route 3, Star Lake, NY 13690

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!