Listing Agency: WILLIAM RAVEIS - BERKSHIRE

Listed By: Lance Vermeulen Show Phone

Source: Altonwestall

Added: Aug 3 Changed: Aug 20 Last Checked: Aug 19 at 9:59AM

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Investment Insights

Based on property information with market context.

Little Cat Lodge is a renovated hotel comprising 14 guest rooms, shared gathering areas, and an integrated bar and restaurant. The property measures 12,019 square feet and has undergone a comprehensive renovation that included new and updated systems while preserving its established character. Edwards Tavern provides the in-house food-and-beverage component, with dining and bar areas oriented toward mountain scenery.

The property is located at 37 Catamount in Hillsdale, NY, positioned between the Hudson Valley and the Berkshires. Mountain views frame the setting throughout the year, including winter ski-slope vistas, green summer hills, and sunset views. The combination of guest accommodations, common areas, and restaurant operations creates a unified hospitality property.

Key Highlights

• 14 guest rooms within a 12,019‑square‑foot hotel property
• Comprehensive renovation with new and updated systems
• On‑site Edwards Tavern bar and restaurant

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

$174,458

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

4.37%

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%

$3,489,160 $3.5M

Cap Rate 7%

$2,492,257 $2.5M

Cap Rate 9%

$1,938,422 $1.9M

Market Conditions

NOI Build-Up for 12,019 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

$259.6K $21.60/SF

− Vacancy

−$27.0K −$2.25/SF

EGI

$232.6K $19.35/SF

− OpEx

−$58.2K −$4.84/SF

NOI

$174.5K $14.52/SF

Area

Columbia County, NY

Vacancy

10.40%

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%

$3,489,160

Cap Rate 7%

$2,492,257

Cap Rate 9%

$1,938,422

Alternative Uses

Best Use

Specialty Retail

$2.49M

$2.18M – $2.91M (±1% cap)

NOI $174,458 @ 7.0% cap · market cap 4.37%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.97M

$2.60M – $3.47M (±1% cap)

NOI $208,150 @ 7.0% cap · market cap 5.21%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Little Cat Lodge Restaurant

Suggested Use

Top Pick Plumbing Service Kitchen & Bath Showroom Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Explore this area Business Placement

Demographics for 12529, NY

2,755

Population

1,754

Households

1.6

Avg Household Size

53

Median Age

49%

College-Educated

90%

High-School Grad

68.1 sq mi

ZIP Area

40

Density / Sq Mi

$79,531

Median Household Income

$44,253

Median Earnings

$1,191

Median Rent

$387,900

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Hotel - Fourteen guest rooms and an on-site bar and restaurant support a full-service hospitality operation.

Where is this hotel located?

The property is located at 37 Catamount Hillsdale, NY.

What is the asking price?

The asking price for this property is $3,995,000.

What are key features of this property?

This property features: 14 guest rooms within a 12,019‑square‑foot hotel property; Comprehensive renovation with new and updated systems; On‑site Edwards Tavern bar and restaurant