Modernized Nine-Hole Golf
For Sale
$750,000
301 North Kingsboro Avenue, Gloversville, NY 12078
Golf property with clubhouse dining, a pro shop, irrigated greens, and an adjacent hospital setting.
Property Size2,040 SF
Lot Size68.10 Acres
Price / SF$367.65
Days on Market116
Property Features for 301 North Kingsboro Avenue
General Information
Standard status
Active
Size
2,040 SF
Total Parking Spaces
50
Lot size
68.10 Acres
Property subtype
Commercial Sale / Mixed Use
Zoning
Mixed
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$23,787
Amenities
Shingle, Asphalt
Central Air, Yes
Forced Air, Natural Gas, Yes
Finished
Vinyl, Carpet, Ceramic Tile
Wet Bar, Built-in Features
Vinyl Siding
Outbuilding
Lighting
Patio
Building Details
Year Built
1930
Listing Agency:
Four Seasons Sotheby's International Realty
(518) 744-6693
Listed By:
Penny Berg · License #10301212115
(518) 744-6693
Source:
Compass
Added: May 8
Changed: Aug 30
Last Checked: Aug 31 at 1:59AM
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 Four Seasons Sotheby's International Realty
Investment Insights
Based on property information with market context.
This nine-hole golf property includes a clubhouse, restaurant, pro shop, outdoor deck, and patio seating. The dining operation accommodates 55 guests indoors and 30 guests outdoors. Improvements include a renovated commercial kitchen, updated refrigeration and cooking equipment, refreshed HVAC, renovated clubhouse finishes, newer windows and roof, reconstructed greens, course-wide irrigation, and upgraded turf equipment. The sale includes maintenance machinery, kitchen and bar equipment, furnishings, POS equipment, bar inventory, and 18 Yamaha golf carts.
The property encompasses 68.1 acres at 301 North Kingsboro Avenue in Gloversville, New York, directly adjacent to Nathan Littauer Hospital. The operation has active members, league play, restaurant parties, and tournaments scheduled for 2026. A mixed zoning designation is reported for the property.
The property encompasses 68.1 acres at 301 North Kingsboro Avenue in Gloversville, New York, directly adjacent to Nathan Littauer Hospital. The operation has active members, league play, restaurant parties, and tournaments scheduled for 2026. A mixed zoning designation is reported for the property.
Key Highlights
- Nine‑hole golf course on 68.1 acres
- Clubhouse dining seats 55 indoors and 30 on the patio
- Directly adjacent to Nathan Littauer Hospital
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
$28,670
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
3.82%
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%
$573,400
$573.4K
Cap Rate 7%
$409,571
$409.6K
Cap Rate 9%
$318,556
$318.6K
Market Conditions
NOI Build-Up for 2,040 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
$39.9K $19.56/SF
− Vacancy
−$1.7K −$0.82/SF
EGI
$38.2K $18.74/SF
− OpEx
−$9.6K −$4.68/SF
NOI
$28.7K $14.05/SF
Area
Fulton County, NY
Vacancy
4.20%
Lease Rate
$19.56 /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%
$573,400
Cap Rate 7%
$409,571
Cap Rate 9%
$318,556
Alternative Uses
Best Use
Specialty Retail
$409.6K
$358.4K – $477.8K
NOI $28,670 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.41M
$1.23M – $1.65M
NOI $98,720 @ 7.0% cap · market cap 13.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
290
Businesses Nearby
Explore this area
Business Placement
Demographics for 12078, NY
23,009
Population
11,668
Households
2
Avg Household Size
44
Median Age
18%
College-Educated
87%
High-School Grad
110.8 sq mi
ZIP Area
208
Density / Sq Mi
$54,565
Median Household Income
$36,769
Median Earnings
$908
Median Rent
$122,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Golf course & driving range - Golf property with clubhouse dining, a pro shop, irrigated greens, and an adjacent hospital setting.
Where is this golf course & driving range located?
The property is located at 301 North Kingsboro Avenue Gloversville, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Nine‑hole golf course on 68.1 acres; Clubhouse dining seats 55 indoors and 30 on the patio; Directly adjacent to Nathan Littauer Hospital
