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    Established Wedding and Event Venue Title is generated by Realmo AI

    71 Lippincott Rd, Wallkill, NY 12589

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    For Sale
    $1,875,000

    Picturesque 14.5-acre wedding and event venue with mountain views.

    Type:Mixed Use
    Property size:
    4,000 SF
    Lot size:
    14.50 Acres
    Price / SF:
    $468/SF
    Added:
    Jan 9, 2025
    Days on Market:
    511
    Last Refresh:
    May 13 at 8:37 pm

    Property Features for 71 Lippincott Rd

    General Information

    Standard status
    Active
    Size
    4,000 SF
    Lot size
    14.50 Acres
    Property subtype
    Mixed Use

    Building Details

    Year Built
    1994

    We can help!

    Listing Contact
    RoseMarie Christner

    Listing agent RoseMarie Christner

    Listing office Stepping Stone Realty

    Listing date Jan 9, 2025

    Source Xome

    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 Stepping Stone Realty

    HighLights

    • Established wedding and event venue with a strong reputation built over two decades.
    • Approximately 14.5 acres of picturesque land with sweeping mountain and water views.
    • Multiple indoor and outdoor event spaces suitable for year‑round use.
    • Sale includes event inventory (tables, chairs, decor, lighting, audio equipment) for a turnkey operation.
    • Manicured gardens and open lawns providing stunning ceremony backdrops.
    • Generator and commercial kitchen to support seamless event hosting.

    Overview

    This established wedding and event venue is set on approximately 14.5 picturesque acres, offering sweeping mountain and water views and beautifully landscaped grounds. Family owned and operated for more than two decades, the property has built a strong reputation for hosting weddings and special events in a private and scenic setting. The venue includes multiple indoor and outdoor event spaces suitable for ceremonies, cocktail hours, and receptions throughout the year. Manicured gardens and open lawns provide ceremony backdrops, while the indoor reception areas allow for entertaining regardless of the season. The sale includes event inventory such as tables, chairs, décor, lighting, and audio equipment. A generator and commercial kitchen support event hosting. With ample acreage and flexible event spaces, the property offers potential for expanded uses including private events, retreats, seasonal gatherings, and other hospitality opportunities. The property size is 4000 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Wedding venues

    Suggested Use

    Restaurant Building Supply Dental Office Spa & Massage Center Auto Repair Shop Hair Salon Gym & Fitness Center Nail Salon Skin Care Clinic Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wallkill
    County
    Ulster
    State
    New York
    Longitude
    -74.19109
    Latitude
    41.618428

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    FAQs

    What type of property is this?
    Wedding venue - Picturesque 14.5-acre wedding and event venue with mountain views.
    Where is this wedding venue located?
    The property is located at 71 Lippincott Rd Wallkill, NY.
    What is the asking price?
    The asking price for this property is $1,875,000.
    What are key features of this property?
    This property features: Established wedding and event venue with a strong reputation built over two decades.; Approximately 14.5 acres of picturesque land with sweeping mountain and water views.; Multiple indoor and outdoor event spaces suitable for year‑round use.
    (845) 564-2828
    We can help!
    Listing Contact
    RoseMarie Christner
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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