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    Lake Huntington Multifamily Investment Opportunity Title is generated by Realmo AI

    23 Crestwood Road, Lake Huntington, NY 12752

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    Claim this Listing
    For Sale
    $1,100,000

    MULTI_FAMILY - Lake Huntington, NY

    Lot size:
    2.29 Acres
    Added:
    Aug 17, 2023
    Days on Market:
    1009
    Last Refresh:
    May 21 at 9:06 pm

    Property Features for 23 Crestwood Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    COMM
    Parking features
    Parking Lot
    Appliances
    Electric Water Heater
    Standard status
    Active
    APN
    2400-010-0-0002-046-000
    Lot size
    2.29 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    11937

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard, Electric (Heating), Propane (Heating)
    Cooling system
    Window Unit(s), Wall/Window Unit(s)
    Water source
    Well

    Building Details

    Year built
    1960

    We can help!

    Listing Contact
    Joy Romano

    Listing agent Joy Romano

    Listing office Joy Romano Realty 72 E. Kenoza Pl. PO Box 711, Smallwood, NY

    Listing date Aug 17, 2023

    MLS# H6264586

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

    HighLights

    • Lake view and deeded lake access to Lake Huntington.
    • Multiple income streams from the motel (12 units), restaurant/bar/pizzeria, and 7 multi‑family rentals plus a cottage.
    • Fully equipped and operational restaurant/bar/pizzeria with a dance floor.
    • Motel is currently operating on Airbnb and fully booked during the summer.
    • Includes furniture, kitchen equipment, and a 24x24 shed.
    • Convenient location close to Bethel Woods, Narrowsburg, and Callicoon.

    Overview

    This property offers an opportunity to own multiple year-round businesses and up to 20 rentals in The Sullivan Catskills. It features lake access and deeded lake rights to Lake Huntington, a 100-acre motorboat lake, with lake views available from all buildings. The property includes a motel with 12 units, comprising 8 efficiency rooms with kitchen/bedroom combinations and 4 one-room units. The motel is currently listed on Airbnb and has been fully booked during the summer. Additionally, there is a pizzeria/restaurant/bar with a fully equipped kitchen, a large dining area, a cozy bar, and a dance floor. The property also includes 2 multi-family units with 7 rentals and a 2-bedroom cottage. A 24 x 24 shed, furniture, and kitchen equipment are also included. Recent updates include central air in the restaurant, a ramp for the motel, painted and new floors in the motel kitchen/bathroom, new TVs, and stained deck and stairs. The property is located close to Bethel Woods, The Town of Narrowsburg, and The Town of Callicoon. The lot size is 2.29 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

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

    Suggested Use

    Restaurant Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Hotel & Motel Skin Care Clinic Department Store Car Rental Facility Electrical Service

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

    Similar Places Nearby

    • Cabin Rentals — 6 Uphill Dr, Lake Huntington, NY 12752
    • Lakeview Cottages & Motel — 23 Crestwood Rd, Lake Huntington, NY 12752

    Location Insight

    • Map
    • Local Demand
    City
    Lake Huntington
    County
    Sullivan
    State
    New York
    Longitude
    -74.9919112
    Latitude
    41.6873776

    FAQs

    What type of property is this?
    Motel - Multifamily property with motel, restaurant, and lake access.
    Where is this motel 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: Lake view and deeded lake access to Lake Huntington.; Multiple income streams from the motel (12 units), restaurant/bar/pizzeria, and 7 multi‑family rentals plus a cottage.; Fully equipped and operational restaurant/bar/pizzeria with a dance floor.
    (845) 701-9711
    We can help!
    Listing Contact
    Joy Romano
    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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