Catskills Cabin Resort
For Sale
$975,000
488 OLIVEREA RD, Big Indian, NY 12410
Historic lodging property with cabins, a recreation pavilion, and a stream setting within Catskills Park.
Property Size6,300 SF
Price / SF$154.76
Days on Market14
Property Features for 488 OLIVEREA RD
General Information
Standard status
Active
Size
6,300 SF
Property subtype
General Commercial
Property Condition
Severity
Repairs Needed
Evidence
all structures require varying degrees of restoration and modernization
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$6,514
Amenities
recreation pavillion
Electric, A/C - Other
3
Other
Shingle
16 Parking Spaces.
513X606
Stream.
Building Details
Year Built
1940
Buildings
12
Stories
1
Listing Agency:
Keller Williams Upstate NY Properties
(917) 523-1782
Listed By:
Dara Barr
(917) 523-1782
Source:
Xome
Added: Aug 18
Changed: Aug 30
Last Checked: Aug 30 at 9:07PM
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 Keller Williams Upstate NY Properties
Investment Insights
Based on property information with market context.
Located at 488 Oliverea Road in Big Indian, New York, this resort property occupies over 7 acres within Catskills Park. The improvements include 11 cabin structures containing 16 existing lodging units, along with a recreation pavilion. Mature trees, Esopus Creek, and a stream contribute to the natural setting, while several cabins retain vintage elements such as wood flooring and cast iron sinks.
Built in 1940, the property requires varying degrees of restoration and modernization. Several cabins remain in use by the owners in a camp-style setting. Electrical service is distributed through multiple separate meters, and the site includes 16 parking spaces. A spring historically supplied water to the property, and the resort historically operated as a year-round lodging destination.
Built in 1940, the property requires varying degrees of restoration and modernization. Several cabins remain in use by the owners in a camp-style setting. Electrical service is distributed through multiple separate meters, and the site includes 16 parking spaces. A spring historically supplied water to the property, and the resort historically operated as a year-round lodging destination.
Key Highlights
- Over 7 acres within Catskills Park at 488 Oliverea Road, Big Indian, NY 12410
- 11 cabin structures containing 16 existing lodging units
- Esopus Creek, mature trees, and a stream enhance the natural setting
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
$33,666
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
3.45%
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%
$673,320
$673.3K
Cap Rate 7%
$480,943
$480.9K
Cap Rate 9%
$374,067
$374.1K
Market Conditions
NOI Build-Up for 6,300 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
$94.5K $15.00/SF
− Vacancy
−$23.6K −$3.75/SF
EGI
$70.9K $11.25/SF
− OpEx
−$37.2K −$5.91/SF
NOI
$33.7K $5.34/SF
Area
Ulster County, NY
Vacancy
25.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
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%
$673,320
Cap Rate 7%
$480,943
Cap Rate 9%
$374,067
Alternative Uses
Best Use
Hotel Hospitality
$480.9K
$420.8K – $561.1K
NOI $33,666 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$58.92M
$51.55M – $68.74M
NOI $4,124,128 @ 7.0% cap · market cap 422.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 12410, NY
416
Population
559
Households
0.7
Avg Household Size
53
Median Age
41%
College-Educated
98%
High-School Grad
50.8 sq mi
ZIP Area
8
Density / Sq Mi
$31,033
Median Household Income
$252,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Resort - Historic lodging property with cabins, a recreation pavilion, and a stream setting within Catskills Park.
Where is this resort located?
The property is located at 488 OLIVEREA RD Big Indian, NY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Over 7 acres within Catskills Park at 488 Oliverea Road, Big Indian, NY 12410; 11 cabin structures containing 16 existing lodging units; Esopus Creek, mature trees, and a stream enhance the natural setting
