Riverside Mixed-Use Log
For Sale
$949,000
3633 State Route 9l, Lake George, NY 12845
The property combines commercial zoning with 200 feet of Schroon River frontage and authentic Lincoln Log construction.
Property Size3,552 SF
Price / SF$267.17
Days on Market27
Property Features for 3633 State Route 9l
General Information
Standard status
Active
Size
3,552 SF
Zoning
commercial
Site & Location
Traffic Count
12,731 vehicles/day
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$15,977
Building Details
Construction
Lincoln Log cabin
Listing Agency:
Julie & Co Realty LLC
(518) 494-8318
Listed By:
Glenn Harris · License #10401337967
(518) 494-8318
Source:
Exprealty
Added: Aug 4
Changed: Aug 29
Last Checked: Aug 29 at 11:18AM
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 Julie & Co Realty LLC
Investment Insights
Based on property information with market context.
Located at 3633 State Route 9l in Lake George, NY, this 3,552-square-foot mixed-use property features authentic Lincoln Log construction and direct Schroon River frontage. The property is currently zoned commercial and offers a distinctive setting for commercial or live-work use, with any change to residential use subject to Town approvals.
The site is positioned just off Exit 23 of the Adirondack Northway, I-87, with a 2019 NYSDOT Annual Average Daily Traffic count of 12, 731 vehicles. Its regional setting provides access to Lake George, Gore Mountain, the High Peaks, and other Adirondack destinations. Furnishings may convey if desired. Any residential conversion, short-term rental use, zoning interpretation, and permitting requirements should be independently verified with the Town of Lake George.
The site is positioned just off Exit 23 of the Adirondack Northway, I-87, with a 2019 NYSDOT Annual Average Daily Traffic count of 12, 731 vehicles. Its regional setting provides access to Lake George, Gore Mountain, the High Peaks, and other Adirondack destinations. Furnishings may convey if desired. Any residential conversion, short-term rental use, zoning interpretation, and permitting requirements should be independently verified with the Town of Lake George.
Key Highlights
- 3,552 square feet of mixed‑use space with authentic Lincoln Log construction
- 200' frontage on the Schroon River
- Currently zoned commercial; residential conversion is subject to Town approvals
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
$54,985
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
5.79%
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%
$1,099,700
$1.1M
Cap Rate 7%
$785,500
$785.5K
Cap Rate 9%
$610,944
$610.9K
Market Conditions
NOI Build-Up for 3,552 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
$85.2K $24.00/SF
− Vacancy
−$11.9K −$3.36/SF
EGI
$73.3K $20.64/SF
− OpEx
−$18.3K −$5.16/SF
NOI
$55.0K $15.48/SF
Area
Warren County, NY
Vacancy
14.00%
Lease Rate
$24.00 /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%
$1,099,700
Cap Rate 7%
$785,500
Cap Rate 9%
$610,944
Alternative Uses
Best Use
Office B
$785.5K
$687.3K – $916.4K
NOI $54,985 @ 7.0% cap · market cap 5.79%
Second Best
Mixed Use
$630.2K
$551.5K – $735.3K
NOI $44,116 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$1.06M
$930.3K – $1.24M
NOI $74,422 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12,731 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 12845, NY
4,873
Population
3,441
Households
1.4
Avg Household Size
52
Median Age
37%
College-Educated
94%
High-School Grad
45.0 sq mi
ZIP Area
108
Density / Sq Mi
$95,583
Median Household Income
$50,000
Median Earnings
$1,064
Median Rent
$371,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines commercial zoning with 200 feet of Schroon River frontage and authentic Lincoln Log construction.
Where is this mixed-use property located?
The property is located at 3633 State Route 9l Lake George, NY.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: 3,552 square feet of mixed‑use space with authentic Lincoln Log construction; 200' frontage on the Schroon River; Currently zoned commercial; residential conversion is subject to Town approvals
