Hotel with 32-Unit RV
For Sale
$799,000
614 County Route 48, Altmar, NY 13302
CommercialSale, Altmar, NY
Property Size4,368 SF
Lot Size5.65 Acres
Price / SF$182.92
Days on Market431
Property Features for 614 County Route 48
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COM-1/Res1
Zoning description
Commercial
Rooms
Basement
Parking
25
Parking features
Driveway
Exterior features
PropaneTankLeased
Lot features
Irregular Lot
Elementary school district
Pulaski Academy and Central
Middle school district
Pulaski Academy and Central
High school district
Pulaski Academy and Central
Directions
From Pulaski - East on St Rt 13 to Altmar - Turn Left on Co Rt 48 North - to Cannon's Fishing Lodge on Right - Just Past Salmon River Access
Subdivision
Albion-Oswego Co.-352000
Standard status
Active
APN
352000-072-000-0003-028-030-0000
Size
4,368 SF
Lot size
5.65 Acres
Taxes and HOA fees
Tax Annual Amount
16117
Utilities
Sewer type
Septic Tank
Heating system
Oil, Forced Air, Propane (Heating), Central
Cooling system
Separate Meters, Central Air
Water source
Well
Amenities
showers
bathrooms
laundry
recreation room
kitchen
housekeeping laundry
ice machine
backup generator
TV
heat
A/C
cable
linens
laundry equipment
pole barn
Building Details
Year built
2000
Floors in Building
2
Flooring type
Linoleum, Vinyl, Carpet
Roof type
Asphalt, Metal
Listing Agency:
CNY Select Realty.com
(315) 676-3948
Listed By:
Robert Foster · License #10371200926
(315) 676-3948
Added: Jun 19, 2025
Changed: Aug 19
Last Checked: Aug 23 at 4:06PM
MLS# S1615675
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This hospitality property combines a 15-room lodge with a 32-unit RV park equipped with showers, bathrooms, and laundry facilities. Each lodge room includes a private bath, television, heat, air conditioning, and cable. Common and operational areas include a recreation room, kitchen, additional bath, housekeeping laundry, and ice machine. A backup generator is sized to serve the entire property, while the included furnishings, linens, and laundry equipment support ongoing operations.
The property spans 5.65 acres across two parcels totaling 4,368 square feet of reported property size. Improvements also include a 30-by-56-foot pole barn, a furnished 2-bedroom, 2-bath residence with an attached two-stall garage, and a furnished 2-bedroom, 2-bath apartment. The site uses a well and septic tank, with COM-1/Res1 zoning. Located in Altmar near I-81 and Syracuse Airport, the property is positioned within an area known for salmon and trout fishing.
The property spans 5.65 acres across two parcels totaling 4,368 square feet of reported property size. Improvements also include a 30-by-56-foot pole barn, a furnished 2-bedroom, 2-bath residence with an attached two-stall garage, and a furnished 2-bedroom, 2-bath apartment. The site uses a well and septic tank, with COM-1/Res1 zoning. Located in Altmar near I-81 and Syracuse Airport, the property is positioned within an area known for salmon and trout fishing.
Key Highlights
- 15‑room lodge with private baths in every guest room
- 32‑unit RV park with showers, bathrooms, and laundry facilities
- 5.65 acres across two included parcels
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
$33,509
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
4.19%
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%
$670,180
$670.2K
Cap Rate 7%
$478,700
$478.7K
Cap Rate 9%
$372,322
$372.3K
Market Conditions
NOI Build-Up for 4,368 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
$64.5K $14.76/SF
− Vacancy
−$3.5K −$0.81/SF
EGI
$60.9K $13.95/SF
− OpEx
−$27.4K −$6.28/SF
NOI
$33.5K $7.67/SF
Area
Oswego County, NY
Vacancy
5.50%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$670,180
Cap Rate 7%
$478,700
Cap Rate 9%
$372,322
Alternative Uses
Best Use
Apartment 5plus
$478.7K
$418.9K – $558.5K
NOI $33,509 @ 7.0% cap · market cap 4.19%
Second Best
Hotel Hospitality
$400.1K
$350.1K – $466.8K
NOI $28,010 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$871.2K
$762.3K – $1.02M
NOI $60,987 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 13302, NY
1,594
Population
986
Households
1.6
Avg Household Size
42
Median Age
11%
College-Educated
84%
High-School Grad
45.3 sq mi
ZIP Area
35
Density / Sq Mi
$55,156
Median Household Income
$37,599
Median Earnings
$1,032
Median Rent
$123,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Lodging improvements include guest rooms, private baths, recreation facilities, and on-site support spaces.
Where is this hotel located?
The property is located at 614 County Route 48 Altmar, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 15‑room lodge with private baths in every guest room; 32‑unit RV park with showers, bathrooms, and laundry facilities; 5.65 acres across two included parcels
