Building Details

Building Size 10,748 SF

Year Built 1960

Buildings 5

Listing Agency: Joy Romano Realty j**@joyromanorealty.com

Listed By: Joy Romano Show Phone

Source: Croninreale

Added: Aug 17, 2023 Changed: Oct 23 Last Checked: Oct 23 at 11:18AM

Report an Issue

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

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 10,748-square-foot mixed-use property includes a 12-unit motel, two multifamily buildings with seven rentals, and a two-bedroom cottage. Motel accommodations comprise eight efficiency units with kitchen and bedroom areas, plus four single-room units. The restaurant operation includes a pizzeria, bar, dining space, dance floor, and equipped kitchen. A 24-by-24-foot shed is also on the property, along with furniture and kitchen equipment.

Lake Huntington access and deeded lake rights are included, with views of the water from each building. The lake spans 100 acres and permits motor boating. The property is near Bethel Woods and the towns of Narrowsburg and Callicoon, and is zoned COMM.

Updates include central air in the restaurant, a ramp at the motel, kitchen and bathroom painting and flooring in the motel, replacement televisions, and refinished deck and stair surfaces. The property was built in 1960.

Key Highlights

• 12‑unit motel with eight efficiency units and four single‑room units
• Two multifamily buildings containing seven rentals, plus a two‑bedroom cottage
• Restaurant, pizzeria, and bar with equipped kitchen, dining area, and dance floor

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$92,218

Cap Rate

8.38%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,844,360 $1.8M

Cap Rate 7%

$1,317,400 $1.3M

Cap Rate 9%

$1,024,644 $1.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,748 SF

Gross rent

$167.7K $15.60/SF

− Vacancy

−$20.1K −$1.87/SF

EGI

$147.5K $13.73/SF

− OpEx

−$55.3K −$5.15/SF

NOI

$92.2K $8.58/SF

Area

Sullivan County, NY

Vacancy

12.00%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,844,360

Cap Rate 7%

$1,317,400

Cap Rate 9%

$1,024,644

Alternative Uses

Best Use

Specialty Retail

$1.99M

$1.74M – $2.32M (±1% cap)

NOI $139,004 @ 7.0% cap · market cap 12.64%

Second Best

Mixed Use

$1.32M

$1.15M – $1.54M (±1% cap)

NOI $92,218 @ 7.0% cap · market cap 8.38%

Theoretical Best

Office A

$2.95M

$2.58M – $3.44M (±1% cap)

NOI $206,362 @ 7.0% cap · market cap 18.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Lakeview Pizzeria & Bar Restaurant Lakeview Cottages & Motel Hotel & Motel

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Auto Repair Shop Skin Care Clinic Acupuncture Gym & Fitness Center

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

8

Residential units

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

33

Businesses Nearby

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - The site combines lodging, multifamily rentals, a restaurant and bar, and access to Lake Huntington.

Where is this mixed-use property 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 eight efficiency units and four single‑room units; Two multifamily buildings containing seven rentals, plus a two‑bedroom cottage; Restaurant, pizzeria, and bar with equipped kitchen, dining area, and dance floor