Recreation Land with Private
For Sale
$1,499,000
175 Hovick Rd, Burlington, NY 13348
Business Opportunity, Burlington, NY
Property Size9,000 SF
Lot Size100.41 Acres
Price / SF$166.56
Days on Market132
Property Features for 175 Hovick Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
23
Bathrooms
12
Full bathrooms
12
Rooms
Bedroom 22, Bathroom 6, Bedroom 3, Bedroom 15, Bedroom 18, Bathroom 8, Bedroom 20, Bathroom 4, Bathroom 9, Bedroom 12, Bedroom 19, Bedroom 7, Bathroom 10, Bathroom 1, Bedroom 1, Bathroom 7, Bathroom 2, Bedroom 11, Bedroom 6, Bedroom 16, Bedroom 17, Bedroom 9, Bedroom 10, Bedroom 4, Bedroom 2, Bathroom 3, Bathroom 5, Bedroom 14, Bedroom 13, Bathroom 11, Bedroom 21, Bedroom 5, Bedroom 8, Bedroom 23, Bathroom 12
Patio and Porch features
Porch, Deck
High school district
EDMESTON CENTRAL SCHOOL DISTRICT
Directions
State Highway 205 North Through Hartwick, Left on State Highway 80, Right on Hovick Rd, property will be on the left
Standard status
Active
APN
362000-095.000-0001-032.001
Size
9,000 SF
Lot size
100.41 Acres
Taxes and HOA fees
Tax Annual Amount
23923
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Baseboard, Solar (Heating), Radiant, Wood
Water source
Well
Building Details
Year built
2010
Floors in Building
2
Flooring type
Hardwood, Tile, Carpet
Building materials
Wood Siding
Roof type
Asphalt
Listing Agency:
BENSON AGENCY REAL ESTATE LLC
(607) 432-4391
Listed By:
Mary Rab · License #30RA0875441
(607) 437-1694
Added: May 27
Changed: Oct 1
Last Checked: Oct 5 at 5:06AM
MLS# 11792006
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This recreation land property includes a private compound with four homes, a large bunkhouse, an oversized garage, and a mechanical building. The residences include three chalet-style homes and a manufactured ranch home with a finished basement, while the site also features porches, decks, wood-burning heat, radiant heating, and solar systems. The improvements total 9,000 square feet and were built in 2010.
Outdoor amenities include a 2-acre spring-fed pond, Butternut Creek, internal roads and trails, and a private paved access road. The property is served by a well and septic tank. Wood siding, hardwood and tile flooring, asphalt roofing, and a gasification boiler are among the documented improvements. Located at 175 Hovick Rd in Burlington, NY, the property offers a combination of residential structures and recreational land within Otsego County.
Outdoor amenities include a 2-acre spring-fed pond, Butternut Creek, internal roads and trails, and a private paved access road. The property is served by a well and septic tank. Wood siding, hardwood and tile flooring, asphalt roofing, and a gasification boiler are among the documented improvements. Located at 175 Hovick Rd in Burlington, NY, the property offers a combination of residential structures and recreational land within Otsego County.
Key Highlights
- Four homes plus a large bunkhouse
- 9,000 square feet of improvements built in 2010
- 2‑acre spring‑fed pond and Butternut Creek
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
$73,359
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
4.89%
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%
$1,467,180
$1.5M
Cap Rate 7%
$1,047,986
$1.0M
Cap Rate 9%
$815,100
$815.1K
Market Conditions
NOI Build-Up for 9,000 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
$140.4K $15.60/SF
− Vacancy
−$7.0K −$0.78/SF
EGI
$133.4K $14.82/SF
− OpEx
−$60.0K −$6.67/SF
NOI
$73.4K $8.15/SF
Area
Otsego County, NY
Vacancy
5.00%
Lease Rate
$15.60 /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%
$1,467,180
Cap Rate 7%
$1,047,986
Cap Rate 9%
$815,100
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$917.0K – $1.22M
NOI $73,359 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.48M
$2.17M – $2.89M
NOI $173,664 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 13348, NY
1,323
Population
732
Households
1.8
Avg Household Size
45
Median Age
35%
College-Educated
96%
High-School Grad
35.7 sq mi
ZIP Area
37
Density / Sq Mi
$77,903
Median Household Income
$40,764
Median Earnings
$956
Median Rent
$187,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Single family property - Wooded recreational property with multiple residences, a bunkhouse, water features, trails, and off-grid infrastructure.
Where is this single family property located?
The property is located at 175 Hovick Rd Burlington, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Four homes plus a large bunkhouse; 9,000 square feet of improvements built in 2010; 2‑acre spring‑fed pond and Butternut Creek
