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    374 Neer Rd Long Eddy, NY 12760

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    For Sale
    $3,250,000

    Unique recreational property with rental cabins and extensive outdoor facilities.

    Property size:
    6,000 SF
    Lot size:
    300.50 Acres

    Property Features for 374 Neer Rd

    General Information

    Standard status
    Active
    Size
    6,000 SF
    Lot size
    300.50 Acres

    We can help!

    Listing Contact
    Travis O'Dell
    Travis O'Dell
    Source: Exitrealty

    Listing Agency: Land and Water Realty LLC Listing Agent: Travis O'Dell

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

    Learn more

    Overview

    300-Acre Recreational Property For Sale

    This property, known as The Catskill Pheasantry, is situated on over 300 acres of open field and mixed hardwood forest within the Delaware River watershed. The property includes five two-bedroom rental cabins and a main lodge of nearly 5000 square feet, featuring a stone fireplace, bar area, sitting areas, seven bedrooms, and three bathrooms, along with an attached two-bedroom, one-bath caretaker apartment. An office and retail store of approximately 1200 square feet includes a full commercial kitchen and dining area downstairs. Additional facilities include cleaning stations, pavilions, barns, dog kennels, bird enclosures, shooting stands, and a rifle range. A 20-station sporting clay course is also present. The property has been open to the public and has the capacity to host large corporate events, with potential for further expansion. This recreational property is located a two-hour drive from the George Washington Bridge.
    Location Intelligence

    Current Use by Public Records

    Catskill Pheasantry & Clays Shooting Range

    Suggested Use

    Wine and Liquor Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Long Eddy
    County
    Sullivan
    State
    New York
    Longitude
    -75.064091
    Latitude
    41.888197

    Nearby Similar for Sale

    • $1,300,000

      Long Eddy Hotel and Saloon

      Hospitality and retail business opportunity in Long Eddy, NY.
      7 Depot St, Long Eddy, NY 12760
      View Details

    FAQs

    What type of property is this?
    Race track - Unique recreational property with rental cabins and extensive outdoor facilities.
    Where is this race track located?
    The property is located at 374 Neer Rd Long Eddy, NY.
    What is the asking price?
    The asking price for this property is $3,250,000.
    What are key features of this property?
    This property features: - Over 300 acres of open field and mixed hardwood forest in the Delaware River watershed.; - Established business with five rental cabins, a retail store with commercial kitchen and dining.; - Large main lodge (nearly 5000 sqft) with 7 bedrooms, 3 baths, stone fireplace, and bar area.
    (845) 807-2630
    Request Owner's contact information
    374 Neer Rd Long Eddy, NY 12760
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    Long Eddy, NY 12760
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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
    374 Neer Rd Long Eddy, NY 12760
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    We can help!
    Listing Contact
    Travis O'Dell
    Travis O'Dell
    Real Estate License ID: 10491211664
    (845) 807-2630 (607) 290-4130
    Learn more
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