Lodge with Two
For Sale
$1,340,000
746 Howe Road, Lake Luzerne, NY 12846
Two cabins on one parcel, with a lodge offering a commercial kitchen and accessible bathroom for flexible use.
Property Size5,780 SF
Price / SF$231.83
Days on Market89
Property Features for 746 Howe Road
General Information
Standard status
Active
Size
5,780 SF
Property subtype
Mixed Use
Additional Details
Business Included
Yes
Building Details
Building Size
5,780 SF
Listing Agency:
Pyramidbrokerage
Listed By:
Pyramid Brokerage Albany
(518) 489-9199
Source:
Pyramidbrokerage
Added: Jun 12
Changed: Sep 7
Last Checked: Sep 7 at 4:36AM
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 Pyramidbrokerage
Investment Insights
Based on property information with market context.
This offering includes two cabins on a single parcel. The main lodge features a handicapped accessible bathroom and a commercial kitchen, supporting a wide range of hospitality uses. The property also includes a basement bar with “Bob Dylan” scratched into the surface, adding a distinctive interior detail for events or guest stays.
The setting is in Lake Luzerne, where the area is described as busy year-round with activities such as boating, camping, tubing, snowmobiles, skiing, cross-country skiing, and fishing. The listing also notes the property is approximately 7 miles from Lake George Village.
For buyers looking for flexibility, the main lodge is positioned to function as more than a standard rental, with the commercial kitchen and accessible bath supporting uses such as a retreat, restaurant concept, or wedding venue. The property is described as having been formerly part of the Painted Pony Dude Ranch, and the listing states the site may be able to accommodate additional structures or a subdivision subject to site plan review. With two cabins already in place, the layout provides an option to live on-site while renting the other unit, depending on the buyer’s operating plan.
The setting is in Lake Luzerne, where the area is described as busy year-round with activities such as boating, camping, tubing, snowmobiles, skiing, cross-country skiing, and fishing. The listing also notes the property is approximately 7 miles from Lake George Village.
For buyers looking for flexibility, the main lodge is positioned to function as more than a standard rental, with the commercial kitchen and accessible bath supporting uses such as a retreat, restaurant concept, or wedding venue. The property is described as having been formerly part of the Painted Pony Dude Ranch, and the listing states the site may be able to accommodate additional structures or a subdivision subject to site plan review. With two cabins already in place, the layout provides an option to live on-site while renting the other unit, depending on the buyer’s operating plan.
Key Highlights
- Two cabins on one parcel, plus a main lodge designed for flexible use
- Main lodge includes a commercial kitchen and a handicapped‑accessible bathroom
- Hardwood, tile/ceramic tile, and carpet flooring; central air cooling
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
$48,200
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
3.60%
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%
$964,000
$964.0K
Cap Rate 7%
$688,571
$688.6K
Cap Rate 9%
$535,556
$535.6K
Market Conditions
NOI Build-Up for 5,780 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
$92.2K $15.96/SF
− Vacancy
−$4.6K −$0.80/SF
EGI
$87.6K $15.16/SF
− OpEx
−$39.4K −$6.82/SF
NOI
$48.2K $8.34/SF
Area
Warren County, NY
Vacancy
5.00%
Lease Rate
$15.96 /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%
$964,000
Cap Rate 7%
$688,571
Cap Rate 9%
$535,556
Alternative Uses
Best Use
Apartment 5plus
$688.6K
$602.5K – $803.3K
NOI $48,200 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $121,103 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
Explore this area
Business Placement
Demographics for 12846, NY
3,008
Population
2,338
Households
1.3
Avg Household Size
51
Median Age
26%
College-Educated
90%
High-School Grad
53.7 sq mi
ZIP Area
56
Density / Sq Mi
$47,449
Median Household Income
$41,500
Median Earnings
$942
Median Rent
$197,400
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?
Short term rental property - Two cabins on one parcel, with a lodge offering a commercial kitchen and accessible bathroom for flexible use.
Where is this short term rental property located?
The property is located at 746 Howe Road Lake Luzerne, NY.
What is the asking price?
The asking price for this property is $1,340,000.
What are key features of this property?
This property features: Two cabins on one parcel, plus a main lodge designed for flexible use; Main lodge includes a commercial kitchen and a handicapped‑accessible bathroom; Hardwood, tile/ceramic tile, and carpet flooring; central air cooling
