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    Covert Rd Interlaken, NY 14847

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    For Sale
    $1,700,000

    Vineyard, Tasting Room, & Production Facility

    Property size:
    5,106 SF

    Property Features for Covert Rd

    General Information

    Property type
    Other commercial real estate
    Square Feet
    5,106 SF
    Lot Size
    1,285,020 SF

    Building Details

    Year Built
    2016

    We can help!

    Listing Contact
    Kathleen Seaman
    Kathleen Seaman

    Listing Agency: Warren Real Estate Listing Agent: Kathleen Seaman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 5,106 square foot commercial property, nestled on nearly 30 acres overlooking Cayuga Lake, presents a lucrative investment opportunity. Located on Route 89 in Interlaken, NY, at the heart of the Cayuga Wine Trail, this established winery, Shepherdess Cellars, boasts a stunning tasting room featuring a custom-built bar, ample seating both indoors and outdoors, and a dedicated merchandise area. The property includes three restrooms and a well-equipped office. A comprehensive production facility is also on-site, complete with all necessary equipment (a detailed inventory is available). The winery sources fruit from local growers, reflecting a commitment to producing high-quality, regionally representative wines. Financial information will be provided to qualified buyers upon execution of a non-disclosure agreement. The property's picturesque setting and established reputation within the thriving Finger Lakes wine region make this a truly unique and promising venture. The stunning lake views add to the overall appeal, creating an idyllic setting for wine tasting and events. This turnkey operation is ready for a new owner to continue its success story. The property's size and location offer significant potential for expansion and further development.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Interlaken
    County
    Seneca
    State
    New York
    Longitude
    -76.68039
    Latitude
    42.57538

    Nearby Similar for Sale

    • $1,199,000
      5,106 SF

      Established Winery on Cayuga Lake

      Winery with tasting room, production facility, and lake views.
      8189 New York 89, Interlaken, NY 14847
      View Details
    • $1,599,999
      10,000 SF

      Americana Winery: Cayuga Lake Estate

      70 Acres, Winery, Restaurant, Brewery
      4367 Covert Rd, Interlaken, NY 14847
      View Details
    • $1,700,000
      29.50 Acres

      Shepherdess Cellars Winery - NY

      Prime Finger Lakes Winery, 29.5 acres
      8189 Ny-89, Interlaken, NY 14847
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Vineyard, Tasting Room, & Production Facility
    Where is this commercial real estate located?
    The property is located at Covert Rd Interlaken, NY.
    What is the asking price?
    The asking price for this property is $1,700,000.
    (607) 280-3339
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    Covert Rd Interlaken, NY 14847
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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
    Covert Rd Interlaken, NY 14847
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    We can help!
    Listing Contact
    Kathleen Seaman
    Kathleen Seaman
    Real Estate License ID: 30SE0908346
    (607) 280-3339 (607) 257-0666
    Learn more
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