Building Details

Year Built 1950

Listing Agency: THE CATSKILL DREAM TEAM Show Phone

Listed By: MARGARET BELLAR · License #10331200183 Show Phone

Source: Corcoran

Added: Sep 9 Changed: Oct 27 Last Checked: Oct 26 at 4:23PM

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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 THE CATSKILL DREAM TEAM

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Investment Insights

Based on property information with market context.

Built in 1950, this hospitality property combines a substantial gathering area with a preserved full-scale bar, six bedrooms, and four full baths. The main room features beamed ceilings, skylights, a stone fireplace, a Vermont Castings wood stove, and six sliding glass doors opening onto a wraparound deck. The kitchen includes hickory cabinetry, Silestone countertops, a ZLINE propane range with double ovens and hood, a microwave drawer, and extensive storage. An office, mudroom, laundry area, main-level suite, and additional flexible-use areas support a range of configurations.

Two adjoining parcels provide approximately two acres of usable land, landscaped walkways, a firepit area with Cambridge pavers, and parking for 12+ vehicles. A tributary of the Batavia Kill borders the property. It sits across from Roxbury Run Country Club and near Roxbury Run Village, with Roxbury and Margaretville nearby and Belleayre and Plattekill Mountain within easy reach. Improvements include 49 Pella windows, new siding, exterior lighting, two commercial-size septic tanks, a new boiler, a full-house propane generator, and extensive interior renovations.

Key Highlights

• Two adjoining parcels totaling approximately two acres
• Six bedrooms and four full baths, including a main‑level suite
• Original full‑scale bar and large gathering room with beamed ceilings and skylights

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$78,762

Cap Rate

7.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,575,240 $1.6M

Cap Rate 7%

$1,125,171 $1.1M

Cap Rate 9%

$875,133 $875.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,075 SF

Gross rent

$109.6K $21.60/SF

− Vacancy

−$4.6K −$0.91/SF

EGI

$105.0K $20.69/SF

− OpEx

−$26.3K −$5.17/SF

NOI

$78.8K $15.52/SF

Area

Delaware County, NY

Vacancy

4.20%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,575,240

Cap Rate 7%

$1,125,171

Cap Rate 9%

$875,133

Alternative Uses

Best Use

Specialty Retail

$1.13M

$984.5K – $1.31M (±1% cap)

NOI $78,762 @ 7.0% cap · market cap 7.92%

Second Best

Hotel Hospitality

$542.4K

$474.6K – $632.8K (±1% cap)

NOI $37,967 @ 7.0% cap · market cap 3.82%

Theoretical Best

Office A

$2.49M

$2.18M – $2.90M (±1% cap)

NOI $174,296 @ 7.0% cap · market cap 17.52%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Bed & breakfasts

Suggested Use

Top Pick 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

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 12421, NY

334

Population

455

Households

0.7

Avg Household Size

59

Median Age

35%

College-Educated

81%

High-School Grad

17.2 sq mi

ZIP Area

19

Density / Sq Mi

$97,545

Median Household Income

$317,600

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

Frequently Asked Questions

What type of property is this?

Bed & breakfast - Historic hospitality building with a full bar, event-scale gathering room, guest rooms, and mountain views.

Where is this bed & breakfast located?

The property is located at 770 John Shultis Road Denver, NY.

What is the asking price?

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

What are key features of this property?

This property features: Two adjoining parcels totaling approximately two acres; Six bedrooms and four full baths, including a main‑level suite; Original full‑scale bar and large gathering room with beamed ceilings and skylights