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    644 County Route 48 Altmar, NY 13302

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    644 County Route 48 Altmar, NY 13302

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    • Commercial real estate
    • 7,840 SF
    • 10.40 lot acres
    For Sale
    $950,000
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    Altmar Motel & Campground - Turnkey Opportunity For Sale
    $950,000
    7,840 SF

    Altmar Motel & Campground - Turnkey Opportunity

    16-Room Motel, Campground, 10 Acres

    Kasoag, NY 13302
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mid-River Motel & Campground / Hotel & Motel

    Property Details for 644 County Route 48

    Year built
    1990
    Lot size
    10.40 lot acres
    Property size
    7,840 SF
    Property type
    Commercial real estate

    Description

    This exceptional turnkey business opportunity in Altmar, NY, presents a 7,840 sq ft motel and campground on a sprawling 10.4-acre lot. The property boasts a recently renovated 16-room motel with a large basement/game room and an inviting outdoor gathering space complete with grills and picnic tables. A spacious office with an attached garage provides ample administrative space. Upstairs, a private owner's suite offers a large kitchen, two bedrooms, one full bath, and a new walk-out deck. The campground features 30 campsites with water and electric hookups, complemented by a newly constructed bathhouse including four half-baths and two full baths, plus a utility storage room with new appliances. Additional amenities include a large storage shed and a functioning walk-in cooler. A commercial laundry area is conveniently located behind the office. This centrally located property is ideal for outdoor enthusiasts, attracting fishermen, hunters, ATV riders, and snowmobilers. The property includes tax map # 072.00-03-17.18. This is a rare chance to acquire an established and profitable business in a desirable location. The property is ready for immediate operation, presenting a significant return on investment for the right buyer. All systems are in place and ready for a new owner to step in and continue the success of this well-maintained and popular destination.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Altmar
    County
    Oswego
    State
    New York
    Longitude
    -76.0412
    Latitude
    43.5401

    Comparable in this City

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      18 Ml St

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      0.31 Acres

      Pulaski St

      VACANT COMMERCIAL LAND • 0.31 Acres
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    • Value Estimation by Request
      5.65 Acres

      614 County Route 48

      Motels • 5.65 Acres
      614 County Route 48, Altmar, NY 13302
      View Details
    • Value Estimation by Request
      1,600 SF

      2524 State Rte 13th, Unit 28

      OFFICE/RESIDENTIAL (MIXED USE) • 1,600 SF
      2524 State Rte 13th, Altmar, NY 13302-2929
      View Details
    • Value Estimation by Request
      1,753 SF

      636 County Rte 48

      OFFICE/RESIDENTIAL (MIXED USE) • 1,753 SF
      636 County Rte 48, Altmar, NY 13302-2810
      View Details
    • Value Estimation by Request
      5,000 SF

      538 Albion Rd

      SHOPPING CENTER, STRIP CENTER • 5,000 SF
      538 Albion Rd, Altmar, NY 13302-3119
      View Details
    View Listing
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    644 County Route 48
    Altmar, NY 13302
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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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