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    4369 Covert Rd Interlaken, NY 14847
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    4369 Covert Rd Interlaken, NY 14847

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    • Commercial real estate
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 4369 Covert Rd

    Year built
    1973
    Property type
    Commercial real estate

    Description

    This exceptional 70-acre property presents a unique investment opportunity on the renowned Cayuga Lake wine trail. The established Americana Winery, a nationally recognized brand, is the centerpiece, boasting 6.5 acres of grapevines and two picturesque ponds. Multiple revenue streams are generated through the winery's tasting room (complete with a gift shop and private event space), the full-service Crystal Lake Cafe (featuring a covered outdoor area with a fire pit), and a turnkey brewery with a dedicated taproom. The property also includes a large pavilion and stage, ideal for hosting outdoor events. A three-bay heated pole barn, offering ample storage and upstairs space, presents significant potential as a wedding venue. A spacious five-bedroom home with two kitchens is included, providing comfortable living quarters. This turnkey operation offers a rare chance to acquire a well-established and diverse business with significant growth potential in a desirable location. The property's combination of established businesses, event spaces, and residential amenities makes it a truly unique and compelling investment. This is a remarkable opportunity not to be missed.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Interlaken
    County
    Cayuga
    State
    New York
    Longitude
    -76.6769
    Latitude
    42.5755

    Comparable in this City

    • Value Estimation by Request
      70.20 Acres

      4367 Covert Rd

      Land • 4,100 SF
      4367 Covert Rd, Interlaken, NY 14847
      View Details
    • Value Estimation by Request
      5,106 SF

      Covert Rd

      Commercial real estate • 5,106 SF
      Covert Rd, Interlaken, NY 14847
      View Details
    • Value Estimation by Request
      13,850 SF

      4369 Covert Rd

      Retail properties & Spaces • 13,850 SF
      4369 Covert Rd, Interlaken, NY 14847
      View Details
    • Value Estimation by Request
      10,000 SF

      4367 Covert Rd

      Commercial real estate • 10,000 SF
      4367 Covert Rd, Interlaken, NY 14847
      View Details
    • Value Estimation by Request
      3,424 SF

      8399 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,424 SF
      8399 Main St, Interlaken, NY 14847-9548
      View Details
    • Value Estimation by Request
      4,952 SF

      8466 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,952 SF
      8466 Main St, Interlaken, NY 14847-9786
      View Details

    Similar Nearby for Sale

    • $1,700,000
      5,106 SF

      Cayuga Lake Winery Estate

      Vineyard, Tasting Room, & Production Facility
      Covert Rd, Interlaken, NY 14847
      View Details
    • Contact for pricing

      Cayuga Lake Vineyard and Cellars

      Vineyard and cellars on almost 30 acres with lake views.
      8189 Ny-89, Interlaken, NY 14847
      View Details
    • $1,199,000
      5,106 SF

      Established Winery on Cayuga Lake

      Winery with tasting room, production facility, and lake views.
      8189 New York 89, Interlaken, NY 14847
      View Details
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    4369 Covert Rd
    Interlaken, NY 14847
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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    4369 Covert Rd, Interlaken, NY, 14847
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