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    The Largest CRE Database in the US with Over 1 Million Listings

    977 Springfield Rd, Unit 2 Wilmington, NY 12997

    Sponsored
    For Sale
    Pending
    $599,000

    LAND - Wilmington, NY

    Type:Single Family Residence
    Lot size:
    47.18 Acres
    Days on Market:
    53
    Last Refresh:
    Feb 26 at 7:06 am

    Property Features for 977 Springfield Rd

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Standard status
    Pending
    Zoning
    Mixed
    APN
    26.1-1-19.112
    Fencing
    Fenced, Gate, Chain Link
    Lot size
    47.18 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Water source
    Public
    Water front features
    Waterfront, River Front
    Water front
    1

    Building Details

    Roof type
    Asphalt

    We can help!

    Listing Contact
    Mark Adler

    Adirondack Premier Properties, Inc. (518) 523-3333

    Listing agent Mark Adler (518) 524-4672

    Listing date Jan 5, 2026

    MLS# 202373

    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.

    Learn more

    Property Insight Report

    Overview

    Ausable Riverfront Land with Development Potential

    This 47+ acre property, formerly the Adirondack Wildlife Refuge Center, presents residential development potential. It features over 1,500 feet of water frontage on the West Branch of the Ausable River and includes more than 2 miles of hiking trails, along with a Public Fishing Access trail that meanders through forest and meadow. The property is zoned Moderate Intensity by the Adirondack Park Agency, permitting various commercial operations and the construction of up to 34 principal residential buildings. The current zoning allows for further subdivision, permitting on average 1.3 acre lots. Existing structures include a 1,200 sq. ft. log cabin with a full bath, previously used as a welcome center, a rehab building, a waterfront lecture cottage, and a storage barn. Additionally, there are two Glamping cottages, accommodating two and four people respectively, available for short-term vacation rentals. The property offers numerous potential residential building sites with views of Whiteface Mountain and the Ausable River. This location is suitable for creating a destination Micro-Resort or a family retreat.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Adirondack Wildlife Refuge ... Resort Adirondack Wildlife Refuge Resort

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Department Store Skin Care Clinic Food Market Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    Essex
    State
    New York
    Longitude
    -73.826118
    Latitude
    44.378577

    Nearby Similar for Sale

    • $6,900,000
      4,252 SF

      Iconic Adirondack Nature Attraction

      Turnkey tourism business with waterfalls, restaurant, and retail.
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      View Details
    • $6,900,000
      21.09 Acres

      Iconic Adirondack Nature Attraction

      Turnkey tourism business opportunity in the heart of the Adirondacks.
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    • $8,700,000
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      High Falls Gorge: Adirondack Gem

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    FAQs

    What type of property is this?
    Waterfront Property - 47+ acres with 1,500 ft of Ausable River frontage.
    Where is this waterfront property located?
    The property is located at 977 Springfield Rd, Unit 2 Wilmington, NY.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: - 47+ acres with an impressive 1,500 ft. of Ausable River waterfront.; - Zoned Moderate Intensity, allowing for up to 34 residential buildings and potential subdivision.; - Includes a 1,200 sq. ft. log cabin welcome center, rehab building, lecture cottage, and storage barn.
    (518) 524-4672
    Request Owner's contact information
    977 Springfield Rd, Unit 2 Wilmington, NY 12997
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    Wilmington, NY 12997
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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
    977 Springfield Rd, Unit 2 Wilmington, NY 12997
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    We can help!
    Listing Contact
    Mark Adler
    (518) 524-4672
    Learn more
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