Building Details

Year Built 1940

Listing Agency: KELLER WILLIAMS UPSTATE NY PRO Show Phone

Listed By: DARA BARR Show Phone

Source: Corcoran

Added: Jun 16 Changed: Sep 14 Last Checked: Sep 15 at 6:29AM

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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 KELLER WILLIAMS UPSTATE NY PRO

Investment Insights

Based on property information with market context.

Comprised of 11 cabin structures containing 16 existing lodging units, this Catskills hospitality compound is a modern-day revival project with historic character. The cabins include a mix of 1- and 2-bedroom layouts (converted from 17 units), and a recreation hall/lodge building with garage space. A larger house structure across the road is also included and should likely be rebuilt rather than restored. The property’s electric service includes multiple separate meters, which could support the creation of additional individual rental arrangements. A spring water source historically served the site, and future ownership may choose to enhance infrastructure with a well system.

Set well back from Oliverea Road and framed by mature trees, the grounds are anchored by a stream that runs through the property, adding a natural setting to the overall compound feel.

All structures require varying degrees of restoration and modernization, with some cabins reportedly still being used by the current owners in a camp-style setting. The offering reflects the original footprint of a year-round lodging resort, presenting an established base for a range of hospitality concepts.

Key Highlights

• Catskills hospitality compound originally known as Brookside Cottages, built in 1940
• Set on approximately 7 acres along scenic Oliverea Road in Catskills Park, set well back from the road
• 11 cabin structures with 16 existing lodging units, a mix of 1- and 2‑bedroom layouts

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 (±1% cap)

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 (±1% cap)

NOI $4,124,128 @ 7.0% cap · market cap 422.99%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Resorts

Suggested Use

Top Pick Real Estate Agency Bed & Breakfast Restaurant Bar & Pub Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

13

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

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What type of property is this? Where is this resorts located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Resort - A hospitality compound with 11 cabin structures and 16 lodging units on a secluded Catskills Park site.

Where is this resort located?

The property is located at 850-872 Oliverea Road 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: Catskills hospitality compound originally known as Brookside Cottages, built in 1940; Set on approximately 7 acres along scenic Oliverea Road in Catskills Park, set well back from the road; 11 cabin structures with 16 existing lodging units, a mix of 1- and 2‑bedroom layouts