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    Adirondacks Golf Course Hospitality Property Title is generated by Realmo AI

    203 Tripp Lake Road, Chestertown, NY 12817

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    Claim this Listing
    New
    For Sale
    $1,925,000

    COMMERCIAL - Chestertown, NY

    Property size:
    4,080 SF
    Lot size:
    72.12 Acres
    Price / SF:
    $471/SF
    Added:
    May 8, 2026
    Days on Market:
    3
    Last Refresh:
    May 10 at 6:06 pm

    Property Features for 203 Tripp Lake Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Parking
    20
    Standard status
    Active
    APN
    524000 137.18-1-1
    Size
    4,080 SF
    Lot size
    72.12 Acres

    Taxes and HOA fees

    Tax Annual Amount
    24671

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Propane (Heating), Forced Air, Radiant
    Cooling system
    Wall Unit(s)
    Water source
    Well

    Building Details

    Building materials
    Wood Siding
    Roof type
    Shingle, Asphalt

    We can help!

    Listing Contact
    Ashley Nagy
    Ashley Nagy

    Listing agent Ashley Nagy License #10401298754

    Listing office Davies-Davies & Assoc Real Est PO Box 201, Queensbury, NY

    Listing date May 8, 2026

    MLS# 202616723

    Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 72+ acre turn‑key recreational and hospitality property with immediate income and exceptional future development potential in the Adirondacks.
    • Ideally located near Lake George, Bolton Landing, Gore Mountain, and Saratoga Springs, capitalizing on year‑round tourism.
    • Includes a fully operational 9‑hole golf course with a turn‑key clubhouse featuring a restaurant, bar, and event space.
    • Features a 1,300 sq ft 2‑bedroom apartment above the clubhouse for owner occupancy, employee housing, or rental income.
    • Offers 9 Adirondack Park Agency approved building rights for expansion, including vacation homes or a resort.
    • Located on the snowmobile trail system, across from Tripp Lake with lake rights, and surrounded by outdoor recreation.

    Overview

    Located in the Adirondacks' tourism corridor, the Green Mansions Golf Course is a 72.12-acre recreational and hospitality property. It features a fully operational 9-hole golf course with maintained greens and fairways suitable for tournaments, along with an established customer base. The property includes a clubhouse with a restaurant, bar, and an approximately 1,000 sq ft banquet/event area. Above the clubhouse is a 1,300 sq ft apartment with 2 bedrooms and 2 bathrooms, featuring a deck overlooking the course. The property has 9 Adirondack Park Agency-approved building rights, allowing for expansion with vacation homes, cabins, short-term rentals, glamping concepts, or a larger resort. Situated directly on the Northern Warren Trailblazers snowmobile trail system and across the street from Tripp Lake with lake rights, the property is near hiking, boating, skiing, and outdoor recreation. The property is located 20 minutes from Lake George and Bolton Landing and 30 minutes to Gore Mountain and Saratoga Springs. The existing building size is 4,080 square feet. The property is zoned for commercial use and is suitable for continuing the golf and hospitality operation, expanding into a destination resort, or developing a vacation rental community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Golf courses & driving ...

    Suggested Use

    Law Firm Hotel & Motel Department Store Bed & Breakfast

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chestertown
    County
    Warren
    State
    New York
    Longitude
    -73.801147
    Latitude
    43.603585

    FAQs

    What type of property is this?
    Golf course & driving range - Turn-key 72+ acre recreational property with development potential.
    Where is this golf course & driving range located?
    The property is located at 203 Tripp Lake Road Chestertown, NY.
    What is the asking price?
    The asking price for this property is $1,925,000.
    What are key features of this property?
    This property features: 72+ acre turn‑key recreational and hospitality property with immediate income and exceptional future development potential in the Adirondacks.; Ideally located near Lake George, Bolton Landing, Gore Mountain, and Saratoga Springs, capitalizing on year‑round tourism.; Includes a fully operational 9‑hole golf course with a turn‑key clubhouse featuring a restaurant, bar, and event space.
    (518) 698-6012
    We can help!
    Listing Contact
    Ashley Nagy
    Ashley Nagy
    Real Estate License ID: 10401298754
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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