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    365 River Dr Lake Luzerne, NY 12846

    Sponsored
    For Sale
    $2,650,000

    Hudson River Cottages, Turnkey Operation

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional hospitality property, situated on five acres along the scenic Hudson River in Lake Luzerne, NY, presents a unique investment opportunity. The property boasts twelve recently renovated cottages, comprising a seven-bedroom lodge, a four-bedroom house, and ten two-bedroom cottages, all featuring fully equipped kitchens. A total of 31 bedrooms are available across the twelve units. The property includes a newly constructed dock, a small beach area, a pontoon boat, kayaks, and a keyless entry system, minimizing operational costs and maximizing efficiency for short-term and long-term rentals. Built in 1960 and extensively renovated in 2024, the property is zoned RT and consists of twelve buildings across two stories. Its prime location offers year-round rental potential, with easy access to popular destinations like Lake George and Saratoga Springs (15 minutes away), and Albany International Airport (45 minutes away). The lodge and three other units are winterized, while the remaining units are seasonal. This turnkey operation presents strong upside potential, given its recent renovations and prime location within a highly desirable tourist area, just three hours from both Boston and New York City. The property's amenities and proximity to outdoor recreational activities in the Adirondacks make it an ideal destination for vacationers seeking a tranquil escape. This is a rare opportunity to acquire a well-maintained, income-generating property with significant growth potential.

    Property Features for 365 River Dr

    General Information

    Property type
    Motels
    Lot Size
    217,800 SF

    Building Details

    Year Built/Renovated
    1960/2024
    Buildings
    12
    Stories
    2

    HighLights

    • Twelve renovated cottages: one seven‑bedroom lodge, one four‑bedroom house, and ten two‑bedroom cottages, all with full kitchens.
    • Five‑acre Hudson Riverfront property with new dock, small beach, pontoon boat, kayaks, and canoes.
    • Keyless entry systems minimize operational costs, ideal for short‑term rentals (Airbnb, Vrbo) and long‑term rentals.
    • Year‑round rental potential, close to Adirondack outdoor recreation.
    • 15 minutes to Lake George and Saratoga Springs; 45 minutes to Albany International Airport.
    • Strong upside potential; no prior operating history.
    Property Profile Location Intelligence

    Current Use by Public Records

    ERDL Property Management Company Riverside Cottage Cottage Rental Whispering Pines Cottages Indoor Lodging

    Suggested Use

    Realty agency Hotel & Motel Garden Center Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Luzerne
    County
    Warren
    State
    New York
    Longitude
    -73.82664251
    Latitude
    43.2725816

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    FAQs

    What type of property is this?
    Motel - Hudson River Cottages, Turnkey Operation
    Where is this motel located?
    The property is located at 365 River Dr Lake Luzerne, NY.
    What is the asking price?
    The asking price for this property is $2,650,000.
    What are key features of this property?
    This property features: Twelve renovated cottages: one seven-bedroom lodge, one four-bedroom house, and ten two-bedroom cottages, all with full kitchens.; Five-acre Hudson Riverfront property with new dock, small beach, pontoon boat, kayaks, and canoes.; Keyless entry systems minimize operational costs, ideal for short-term rentals (Airbnb, Vrbo) and long-term rentals.
    Request Owner's contact information
    365 River Dr Lake Luzerne, NY 12846
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    365 River Dr Lake Luzerne, NY 12846
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