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    9579 9609 Cookingham Road Remsen, NY 13438

    View on Map
    For Sale
    $5,995,000

    MULTI_FAMILY - Colonial - Remsen, NY

    Property size:
    14,404 SF
    Lot size:
    12.00 Acres
    Added:
    Jul 17, 2025
    Days on Market:
    259
    Last Refresh:
    Apr 1 at 4:06 pm

    Property Features for 9579 9609 Cookingham Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Zoning
    Residential
    Parking
    30
    Parking features
    Open, Driveway
    Spa
    1
    Window features
    Shutters, Blinds, Double Pane Windows
    Patio and Porch features
    Porch, Deck, Patio
    Exterior features
    Dock, Fire Pit, Gas Grill, Smart Light(s), Storage
    Fireplace
    1
    Appliances
    Bar Fridge, Built-In Gas Oven, Double Oven, Dryer, Electric Water Heater, Range, Range Hood, Refrigerator, Self Cleaning Oven, Stainless Steel Appliance(s), Tankless Water Heater, Washer, Washer/Dryer Stacked, Water Softener Owned, Wine Cooler, Wine Refrigerator
    Standard status
    Active
    APN
    161.000-1-7.1, 6
    Size
    14,404 SF
    Lot size
    12.00 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    11011

    Utilities

    Utilities
    Phone Available
    Sewer type
    Septic Tank
    Heating system
    Radiant, Radiant Floor, Central
    Cooling system
    Ductless, Central Air
    Water source
    Well
    Water front features
    Beach Front, Waterfront
    Water front
    1

    Building Details

    Year built
    2024
    Floors in Building
    2
    Number of units
    8
    Flooring type
    Marble, Tile, Carpet, Wood
    Building materials
    Wood Siding
    Roof type
    Metal, Asphalt
    Architectural style
    Colonial
    Additional Structures
    Pool House, Storage

    We can help!

    Listing Contact
    Dawn Timm

    Listing agent Dawn Timm

    Listing office Timm Associates Sotheby's International Realty-BML 2972 State Route 28 PO Box 101, Old Forge, NY

    Listing date Jul 17, 2025

    MLS# 205266

    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

    Turn-Key Hospitality Business Opportunity

    This offering features a hospitality business with five income-producing homes and a fully operational event venue, situated on 12 acres with views overlooking Hinckley Lake. The property includes five newly constructed or renovated and furnished homes. The Lake House accommodates 12 guests and features a gourmet kitchen, updated baths, a fireplace, a 2-car garage, landscaped grounds, and multiple decks surrounding an in-ground pool and spa. The Oasis and The Villa are appointed with marble kitchens and baths, fireplaces, and window walls. Each has its own porch, hot tubs, outdoor living space, and gas fire-pit. The Wheelhouse offers a wooded setting with stream views and a waterwheel, blending rustic charm with modern amenities, including a spa-style ensuite, hot tub, gourmet kitchen, fireplace, and outdoor fire-pit. The Showroom is a 7,700 sq. ft. event venue with ceilings, radiant heated floors, a catering kitchen, full bath, and 12' overhead doors. An upstairs ensuite adds a bridal suite with marble bath, California closets, and balcony. Additional amenities include 300' of sandy beachfront, plus a barn and garage housing equipment (Bobcat, plow truck, mower, snowmobiles, boat, and fuel tanks). The property is located in Remsen, NY.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Remsen
    County
    Oneida
    State
    New York
    Longitude
    -75.106316
    Latitude
    43.325226

    Nearby Similar for Sale

    • $599,000
      3,000 SF

      Iconic Drive-In Restaurant For Sale

      Established drive-in restaurant with house on approximately 9 acres.
      10101 Dustin Road, Remsen, NY 13438
      View Details
    • $155,000
      3,782 SF

      Versatile Remsen Building: Multi-Use Potential

      Former Remsen Town Office Building with multi-use conversion potential.
      10540 Academy Lane, Remsen, NY 13438
      View Details

    FAQs

    What type of property is this?
    Hospitality property - Five short-term rental homes and event venue on 12 acres.
    Where is this hospitality property located?
    The property is located at 9579 9609 Cookingham Road Remsen, NY.
    What is the asking price?
    The asking price for this property is $5,995,000.
    What are key features of this property?
    This property features: Turn‑key hospitality business with 5 income‑producing homes and a fully operational event venue.; 12 scenic acres overlooking Hinckley Lake with panoramic water and woodland views.; The Lake House features a large in‑ground pool, gourmet kitchen, updated baths, fireplace, and multiple decks.
    (315) 369-8682
    We can help!
    Listing Contact
    Dawn Timm
    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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