Building Details

Building Size 1,500 SF

Year Built 2007

Buildings 3

Stories 1

Listing Agency: The Holscher Group b**@theholschergroup.com Show Phone

Listed By: Benjamin Holscher · License #10401320780 Show Phone

Source: Homeprocny

Added: May 15 Changed: Aug 13 Last Checked: Aug 16 at 2:45PM

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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 The Holscher Group

Investment Insights

Based on property information with market context.

This golf-oriented commercial property spans 30.88 acres and includes an 18-hole custom mini golf course built in 2010. The property also features a country store with a café, a commercial kitchen equipped with refrigerators, prep stations, ovens, fryers, grills, slicers, and mixers, plus a covered porch and pavilion. A paved parking area accommodates up to 15 cars.

The land is zoned MXD, Agricultural and includes open fields, forested areas, a fenced garden, and a separate fenced area for honey hives. Existing agricultural features include Christmas trees and sugar maples. The property is located two miles from Gilbert Lake State Park and its Hilltop Camping Area, and five miles from Meadow-Vale Campsites campgrounds. The store historically carried groceries, snacks, beverages, ice cream, souvenirs, and gifts, while the café served coffee, sandwiches, pastries, and other food items.

Key Highlights

• 30.88‑acre property with an 18‑hole custom mini golf course
• 18‑hole mini golf course constructed in 2010
• Country store and café with an equipped commercial kitchen

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

$20,775

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

6.39%

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%

$415,500 $415.5K

Cap Rate 7%

$296,786 $296.8K

Cap Rate 9%

$230,833 $230.8K

Market Conditions

NOI Build-Up for 1,500 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

$28.4K $18.96/SF

− Vacancy

−$739 −$0.49/SF

EGI

$27.7K $18.47/SF

− OpEx

−$6.9K −$4.62/SF

NOI

$20.8K $13.85/SF

Area

Otsego County, NY

Vacancy

2.60%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

25.00%

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%

$415,500

Cap Rate 7%

$296,786

Cap Rate 9%

$230,833

Alternative Uses

Best Use

Specialty Retail

$296.8K

$259.7K – $346.3K (±1% cap)

NOI $20,775 @ 7.0% cap · market cap 6.39%

Second Best

Retail

$206.9K

$181.1K – $241.4K (±1% cap)

NOI $14,485 @ 7.0% cap · market cap 4.46%

Theoretical Best

Office A

$413.5K

$361.8K – $482.4K (±1% cap)

NOI $28,944 @ 7.0% cap · market cap 8.91%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Golf courses & driving ...

Suggested Use

Top Pick Grocery & Convenience Store (Bike/Boat/Book/etc) Store Department Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

4

Businesses Nearby

Explore this area Business Placement

Demographics for 13810, NY

1,038

Population

648

Households

1.6

Avg Household Size

48

Median Age

36%

College-Educated

99%

High-School Grad

38.0 sq mi

ZIP Area

27

Density / Sq Mi

$90,577

Median Household Income

$40,405

Median Earnings

$788

Median Rent

$218,900

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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What type of property is this? Where is this golf courses & driving ranges located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Golf course & driving range - Golf-oriented commercial property with a country store, café, commercial kitchen, outdoor gathering areas, and agricultural land.

Where is this golf course & driving range located?

The property is located at 1364 County Highway 12 Mount Vision, NY.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: 30.88‑acre property with an 18‑hole custom mini golf course; 18‑hole mini golf course constructed in 2010; Country store and café with an equipped commercial kitchen