Motel and Studio-Style Hospitality
1545 State Route 9, Lake George, NY 12845
For Sale
Contact for pricing
Kitchen-equipped lodging and substantial owner housing support a wide range of guest stays in a tourism corridor setting.
Property Size14,622 SF
Lot Size3.55 Acres
Price / SF$194.91
Days on Market158
Property Features for 1545 State Route 9
General Information
Standard status
Size
Lot size
Property subtype
Investment Type
Site & Location
Highway Access
Road Access
Additional Details
Business Included
Building Details
Year Renovated
Stories
Tenancy
Listing Agency:
Muroff Hospitality Group
Listed By:
Mitchell B. Muroff · License NY #10491210905
(617) 610-7774
Source:
Crexi
Added: Jun 9
Changed: Nov 12
Last Checked: Nov 12 at 5:10AM
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 Muroff Hospitality Group
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Investment Insights
Based on property information with market context.
This hospitality property includes 44 lodging units arranged in a campus-style setting surrounding a two-story lobby and reception building. The unit mix is exceptionally varied for a property of this size, featuring a combination of traditional guestrooms, family and townhouse-style units, and multiple efficiency and condominium-style accommodations. Ownership housing is built into the asset as well, with one 5-bedroom owner’s residence and one 2-bedroom owner/manager apartment, each with full kitchen facilities. Additional unit types include multi-bedroom suites with full kitchens, offering practical layouts for overnight travelers as well as longer-stay arrangements.
The property is positioned along State Route 9 in the Lake George tourism corridor, providing immediate access to area attractions and guest demand drivers such as Six Flags Great Escape, Million Dollar Beach, Lake George Village, outlet shopping, Fort William Henry, restaurants, nightlife, and opportunities for boating, hiking, and recreation.
Operationally, the kitchen-equipped lodging configuration can support longer-term rentals, workforce and contractor lodging, relocation stays, and seasonal occupancy. Guest amenities include a heated indoor swimming pool, outdoor swimming pool, fitness center, game room, children’s playground, basketball court, fire pit and gathering areas, gazebo and landscaped grounds, guest laundry facilities, and complimentary parking. A spacious reception and lobby building includes a breakfast service area ready for activation, providing additional flexibility for day-to-day guest programming.
The property is positioned along State Route 9 in the Lake George tourism corridor, providing immediate access to area attractions and guest demand drivers such as Six Flags Great Escape, Million Dollar Beach, Lake George Village, outlet shopping, Fort William Henry, restaurants, nightlife, and opportunities for boating, hiking, and recreation.
Operationally, the kitchen-equipped lodging configuration can support longer-term rentals, workforce and contractor lodging, relocation stays, and seasonal occupancy. Guest amenities include a heated indoor swimming pool, outdoor swimming pool, fitness center, game room, children’s playground, basketball court, fire pit and gathering areas, gazebo and landscaped grounds, guest laundry facilities, and complimentary parking. A spacious reception and lobby building includes a breakfast service area ready for activation, providing additional flexibility for day-to-day guest programming.
Key Highlights
- 44‑unit motel/hospitality property on approx. 3.55 acres along the Lake George tourism corridor
- Campus‑style lodging buildings arranged around a two‑story lobby and reception building for streamlined guest operations
- Diverse unit mix includes 2 owner/manager residences plus multiple 2‑bedroom, efficiency, townhouse‑style, and condo‑style units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,516
Cap Rate
3.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,250,320
$2.3M
Cap Rate 7%
$1,607,371
$1.6M
Cap Rate 9%
$1,250,178
$1.3M
Market Conditions
NOI Build-Up for 14,622 SF
Gross rent
$263.2K $18.00/SF
− Vacancy
−$26.3K −$1.80/SF
EGI
$236.9K $16.20/SF
− OpEx
−$124.4K −$8.51/SF
NOI
$112.5K $7.69/SF
Area
Warren County, NY
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,250,320
Cap Rate 7%
$1,607,371
Cap Rate 9%
$1,250,178
Alternative Uses
Best Use
Hotel Hospitality
$1.61M
$1.41M – $1.88M
NOI $112,516 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.38M
$3.83M – $5.11M
NOI $306,360 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12845, NY
4,873
Population
3,441
Households
1.4
Avg Household Size
52
Median Age
37%
College-Educated
94%
High-School Grad
45.0 sq mi
ZIP Area
108
Density / Sq Mi
$95,583
Median Household Income
$50,000
Median Earnings
$1,064
Median Rent
$371,700
Median Home Value
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Similar Off Market Nearby
- Rodeway Inn Lake George Outlets — 1449 US-9, Lake George, NY 12845
- Clarion Inn & Suites At The Outlets Of Lake George — 1454 US-9, Lake George, NY 12845
- Comfort Suites Lake George - Queensbury — 1533 US-9, Lake George, NY 12845
- La Quinta Inn & Suites by Wyndham - Lake George — 1533 US-9, Lake George, NY 12845
- La Quinta Inn & Suites Lake George — 1533 US-9, Lake George, NY 12845
Frequently Asked Questions
What type of property is this?
Motel - Kitchen-equipped lodging and substantial owner housing support a wide range of guest stays in a tourism corridor setting.
Where is this motel located?
The property is located at 1545 State Route 9 Lake George, NY.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 44‑unit motel/hospitality property on approx. 3.55 acres along the Lake George tourism corridor; Campus‑style lodging buildings arranged around a two‑story lobby and reception building for streamlined guest operations; Diverse unit mix includes 2 owner/manager residences plus multiple 2‑bedroom, efficiency, townhouse‑style, and condo‑style units
