Building Details

Year Built 2006

Stories 1

Listing Agency: MICHAEL DEROSA EXCHANGE m***@gmail.com Show Phone

Listed By: Michael Hardesty · License #10401348318 Show Phone

Source: Xome

Added: Jul 15 Changed: Aug 23 Last Checked: Aug 24 at 4:29AM

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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 MICHAEL DEROSA EXCHANGE

Investment Insights

Based on property information with market context.

Natural Gardens is a legacy hospitality estate in the Western Catskills offering a restaurant, brewery, event venue, greenhouses, and supporting buildings. The property is described as spanning approximately 107 acres and featuring more than 20 spring-fed ponds, meandering streams, waterfalls, mature woodlands, open meadows, and curated gardens with established ecosystems.

Infrastructure and building systems are positioned for year-round operations, including radiant-heated concrete floors, commercial electrical service with backup generators, multiple heat pumps, engineered septic systems, UV water treatment, and commercial ventilation and fire suppression systems.

The estate is also presented as five established turnkey businesses. An “easy conversion” of the restaurant to a family compound is mentioned as an option, with overall construction and infrastructure intended for long-term durability. The property is located at 304 Sutherland Road, Meredith, NY 13757, and is also noted as Residential MLS#S1697843.

Key Highlights

• Approximately 107 acres in the Western Catskills with 20+ spring‑fed ponds, meandering streams, and panoramic mountain views
• Built in 2006 with metal roof and radiant‑heated concrete floors
• Infrastructure includes commercial electrical service with backup generators, multiple heat pumps, engineered septic, and UV water treatment

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

$190,736

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

4.54%

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%

$3,814,720 $3.8M

Cap Rate 7%

$2,724,800 $2.7M

Cap Rate 9%

$2,119,289 $2.1M

Market Conditions

NOI Build-Up for 12,290 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

$265.5K $21.60/SF

− Vacancy

−$11.1K −$0.91/SF

EGI

$254.3K $20.69/SF

− OpEx

−$63.6K −$5.17/SF

NOI

$190.7K $15.52/SF

Area

Delaware County, NY

Vacancy

4.20%

Lease Rate

$21.60 /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%

$3,814,720

Cap Rate 7%

$2,724,800

Cap Rate 9%

$2,119,289

Alternative Uses

Best Use

Specialty Retail

$2.72M

$2.38M – $3.18M (±1% cap)

NOI $190,736 @ 7.0% cap · market cap 4.54%

Second Best

Industrial

$1.65M

$1.44M – $1.92M (±1% cap)

NOI $115,459 @ 7.0% cap · market cap 2.75%

Theoretical Best

Office A

$6.03M

$5.28M – $7.03M (±1% cap)

NOI $422,088 @ 7.0% cap · market cap 10.05%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Resorts

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Butcher Big Box & Wholesale Store Pet Store Bed & Breakfast Restaurant

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

Location Intelligence

Trade Area within ½ mile

5

Businesses Nearby

Explore this area Business Placement

Demographics for 13757, NY

1,002

Population

675

Households

1.5

Avg Household Size

48

Median Age

27%

College-Educated

92%

High-School Grad

35.6 sq mi

ZIP Area

28

Density / Sq Mi

$72,557

Median Household Income

$33,542

Median Earnings

$1,345

Median Rent

$209,600

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this resorts 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?

Resort - Estate with restaurant, brewery, event venue, and five turnkey businesses, supported by year-round infrastructure and spring-fed waters.

Where is this resort located?

The property is located at 228-323 SUTHERLAND RD East Meredith, NY.

What is the asking price?

The asking price for this property is $4,200,000.

What are key features of this property?

This property features: Approximately 107 acres in the Western Catskills with 20+ spring‑fed ponds, meandering streams, and panoramic mountain views; Built in 2006 with metal roof and radiant‑heated concrete floors; Infrastructure includes commercial electrical service with backup generators, multiple heat pumps, engineered septic, and UV water treatment