Building Details

Year Built 1940

Listing Agency: Keller Williams Upstate NY Pro

Listed By: Dara Barr Show Phone

Source: Upstatecurious

Added: Aug 5 Changed: Oct 1 Last Checked: Oct 7 at 4:24PM

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Investment Insights

Based on property information with market context.

This resort property at 850-872 Oliverea Rd in Big Indian, NY, encompasses approximately 7 acres with 11 cabin structures containing 16 existing lodging units. The improvements also include a recreation hall or lodge with garage space, plus a larger house across the road that is described as a likely rebuild rather than a restoration project. Several cabins retain original cast iron sinks and wood flooring, while the broader property requires varying degrees of restoration and modernization. The structures date to 1940, and the site historically operated as a year-round lodging resort.

Mature trees and a stream shape the setting within Catskills Park. Electric service is divided among multiple separate meters, and a spring water source historically served the property. The grounds and existing accommodation footprint support redevelopment of an established hospitality compound while preserving elements of its vintage cabin character.

Key Highlights

• Approximately 7 acres in Catskills Park at 850‑872 Oliverea Rd
• 11 cabin structures with 16 existing lodging units
• Recreation hall or lodge building includes garage space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,666

Cap Rate

3.45%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$673,320 $673.3K

Cap Rate 7%

$480,943 $480.9K

Cap Rate 9%

$374,067 $374.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,300 SF

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 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. How Realmo checks its estimates

Property Analytics

Current Use

Resorts

Location Intelligence

Trade Area within ½ mile

4

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

Similar For Sale Nearby

See more

Catskills Cabin Resort Compound

850-872 Oliverea Road, Big Indian, NY 12410

$975,000

6,300 SF

View details

Victorian Mixed-Use Property

26 FIRE HOUSE ROAD, Big Indian, NY 12410

$475,000

0.78 Acres

View details

Frequently Asked Questions

What type of property is this?

Resort - Historic mountain lodging property with multiple cabins, a recreation building, and a stream through its wooded grounds.

Where is this resort located?

The property is located at 850872 850-872 Oliverea Rd 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: Approximately 7 acres in Catskills Park at 850‑872 Oliverea Rd; 11 cabin structures with 16 existing lodging units; Recreation hall or lodge building includes garage space