Lake-Access Motel and
For Sale
$1,100,000
23 Crestwood Road, Lake Huntington, NY 12752
Hospitality property combines lodging, food service, and residential accommodations.
Property Size10,748 SF
Days on Market1109
Property Features for 23 Crestwood Road
General Information
Standard status
Active
Size
10,748 SF
Property subtype
Commercial
Zoning
COMM
Additional Details
Furnished
Yes
Business Included
Yes
Equipment Included
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$11,937
Amenities
lake access
deeded lake rights
Building Details
Building Size
10,748 SF
Year Built
1960
Buildings
5
Listing Agency:
Joy Romano Realty
(845) 701-9711
Listed By:
Joy Romano
(845) 701-9711
Source:
Alexandermadisonhomes
Added: Aug 17, 2023
Changed: Aug 28
Last Checked: Aug 29 at 10:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Joy Romano Realty
Investment Insights
Based on property information with market context.
This hospitality property includes a 12-unit motel, a pizzeria and restaurant with bar service, two multifamily units containing 7 rentals, and a separate two-bedroom cottage. Motel accommodations comprise 8 efficiency rooms with kitchen and bedroom areas plus 4 one-room units. The restaurant includes a fully equipped kitchen, dining space, bar, and dance floor. Furniture, kitchen equipment, and a 24 x 24 shed are also included.
The property offers lake access and deeded rights to Lake Huntington, a 100-acre motorboat lake, with lake views from each building. It is located near Bethel Woods and the towns of Narrowsburg and Callicoon. Recent work includes central air in the restaurant, improvements to the motel ramp, kitchen and bathroom flooring and paint, new TVs, and refinished deck and stair surfaces.
The property offers lake access and deeded rights to Lake Huntington, a 100-acre motorboat lake, with lake views from each building. It is located near Bethel Woods and the towns of Narrowsburg and Callicoon. Recent work includes central air in the restaurant, improvements to the motel ramp, kitchen and bathroom flooring and paint, new TVs, and refinished deck and stair surfaces.
Key Highlights
- 12‑unit motel with 8 efficiency rooms and 4 one‑room units
- Restaurant, pizzeria, and bar with fully equipped kitchen and dance floor
- Two multifamily units containing 7 rentals plus a 2‑bedroom cottage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$82,051
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,641,020
$1.6M
Cap Rate 7%
$1,172,157
$1.2M
Cap Rate 9%
$911,678
$911.7K
Market Conditions
NOI Build-Up for 10,748 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$162.5K $15.12/SF
− Vacancy
−$13.3K −$1.24/SF
EGI
$149.2K $13.88/SF
− OpEx
−$67.1K −$6.25/SF
NOI
$82.1K $7.63/SF
Area
Sullivan County, NY
Vacancy
8.20%
Lease Rate
$15.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,641,020
Cap Rate 7%
$1,172,157
Cap Rate 9%
$911,678
Alternative Uses
Best Use
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,004 @ 7.0% cap · market cap 12.64%
Second Best
Apartment 5plus
$1.17M
$1.03M – $1.37M
NOI $82,051 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$2.95M
$2.58M – $3.44M
NOI $206,362 @ 7.0% cap · market cap 18.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12752, NY
283
Population
260
Households
1.1
Avg Household Size
49
Median Age
33%
College-Educated
99%
High-School Grad
1.5 sq mi
ZIP Area
189
Density / Sq Mi
$55,909
Median Household Income
$64,167
Median Earnings
$944
Median Rent
$385,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Cabin Rentals — 6 Uphill Dr, Lake Huntington, NY 12752
- Lakeview Cottages & Motel — 23 Crestwood Rd, Lake Huntington, NY 12752
Frequently Asked Questions
What type of property is this?
Motel - Hospitality property combines lodging, food service, and residential accommodations.
Where is this motel located?
The property is located at 23 Crestwood Road Lake Huntington, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 12‑unit motel with 8 efficiency rooms and 4 one‑room units; Restaurant, pizzeria, and bar with fully equipped kitchen and dance floor; Two multifamily units containing 7 rentals plus a 2‑bedroom cottage
