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    866 Mountain Ave Purling, NY 12470

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    For Sale
    $2,695,000

    Historic hotel with restaurant, apartments, lake, and development potential.

    Property size:
    35,000 SF
    Lot size:
    116.00 Acres

    Property Features for 866 Mountain Ave

    General Information

    Standard status
    Active
    Size
    35,000 SF
    Lot size
    116.00 Acres

    Building Details

    Year built
    1864

    We can help!

    Listing Contact
    Angela Lanuto, Rsps
    Angela Lanuto, Rsps
    Source: Corcoran

    Listing Agency: COLDWELL BANKER VILLAGE GREEN Listing Agent: Angela Lanuto, Rsps

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

    Learn more

    Overview

    Iconic Bavarian Manor Hotel

    The Bavarian Manor Hotel, situated at the base of Blackhead Mountain in Purling, is a landmark with European charm and history. Originally known as The White Sulphur Springs House, it gained recognition for its therapeutic waters. Evolving into The Columbian, it became the Bavarian Manor Inn in 1931. The property features 18 vintage hotel rooms, a restaurant, a bar area, and a commercial kitchen. The lobby provides an inviting atmosphere, while indoor and outdoor veranda seating areas accommodate events. The third floor offers potential for additional hotel rooms, pending town approval. An attached house with 5 bedrooms and 2 baths has a separate entry and wood floors. A solar farm on the property supplies 50% of the hotel's electricity. A 16-unit waterfront apartment complex, currently fully leased on a month-to-month basis, provides income and could serve as staff housing, a spa area, or additional accommodations. Set on 116 acres, the property includes a 3+ acre lake and scenic trails. Located near Windham and Hunter Ski Mountains and recreational areas, the hotel operates year-round. The property is suitable as a spa and wellness retreat or wedding venue.
    Location Intelligence

    Current Use by Public Records

    The Bavarian Manor Hotel Restaurant

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Hotel & Motel Electrical Service Cafe & Coffee Shop Bed & Breakfast Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Purling
    County
    Greene
    State
    New York
    Longitude
    -74.024099
    Latitude
    42.284487

    Nearby Similar for Sale

    • $2,695,000
      35,000 SF

      Bavarian Manor Hotel: Iconic Catskills Landmark

      Historic Inn with Multiple Income Streams
      866 Mountain Ave, Purling, NY 12470
      View Details

    FAQs

    What type of property is this?
    Hotel - Historic hotel with restaurant, apartments, lake, and development potential.
    Where is this hotel located?
    The property is located at 866 Mountain Ave Purling, NY.
    What is the asking price?
    The asking price for this property is $2,695,000.
    What are key features of this property?
    This property features: - Historic Bavarian Manor Hotel on 116 acres with a 3+ acre lake and scenic trails; - Consistent monthly income from a fully leased 16-unit waterfront apartment complex, with potential for alternative uses; - Potential for expansion with an unfinished third floor in the hotel (pending approval) and a separate 5-bedroom house
    (973) 229-6875
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    866 Mountain Ave Purling, NY 12470
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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
    866 Mountain Ave Purling, NY 12470
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    We can help!
    Listing Contact
    Angela Lanuto, Rsps
    Angela Lanuto, Rsps
    Real Estate License ID: 10301213639
    (973) 229-6875 (518) 625-3360
    Learn more
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