Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2401 St Hwy Caroga Lake, NY 12032
    Back to Search
    Property profile & analytics

    2401 St Hwy Caroga Lake, NY 12032

    View on Map
    • Retail properties & Spaces
    • 4,418 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 2401 St Hwy

    Property size
    4,418 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional commercial property, located at 2401 St Hwy 10 in Caroga Lake, NY 12032, presents a unique investment opportunity. The 4,418 square foot building sits on a substantial 40,946 square foot lot, offering ample space for both indoor and outdoor operations. Currently configured as a tavern and restaurant, the property boasts a prime waterfront location on East Caroga Lake, providing stunning views and direct access for water activities like kayaking and canoeing. The property's strategic location in the heart of the Adirondack Mountains attracts a diverse clientele year-round. During the winter months, it serves as a popular destination for snowmobilers seeking a cozy respite. In warmer months, the outdoor patio, complete with fire pits, creates a vibrant atmosphere for al fresco dining. The property also includes a billiards room, adding to its appeal and entertainment options. Its proximity to Sherman's provides additional opportunities for synergistic entertainment experiences. The ample seating capacity ensures comfortable accommodation for a large number of patrons. This turnkey business offers an established clientele and the potential for significant growth. The asking price for this remarkable property is $420,000. This is a rare chance to own a thriving lakeside business with significant potential in a highly desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Caroga Lake
    County
    Fulton
    State
    New York
    Longitude
    -74.5229
    Latitude
    43.1719

    Comparable in this City

    • Value Estimation by Request
      9,250 SF

      3266 Ny-29A

      Individual retail properties • 9,250 SF
      3266 Ny-29A, Caroga Lake, NY 12032
      View Details
    • Value Estimation by Request
      4,576 SF

      2055 State Hwy 10

      RESTAURANT • 4,576 SF
      2055 State Hwy 10, Caroga Lake, NY 12032-5525
      View Details
    • Value Estimation by Request
      480 SF

      Shr Rd W Caroga Lk

      PARKING GARAGE, PARKING STRUCTURE • 480 SF
      Shr Rd W Caroga Lk, Caroga Lake, NY 12032
      View Details
    • Value Estimation by Request
      4,060 SF

      2043 State Hwy 10

      SERVICE STATION WITH FOOD MART • 4,060 SF
      2043 State Hwy 10, Caroga Lake, NY 12032
      View Details
    • Value Estimation by Request
      0.17 Acres

      2113 State Hwy 10

      VACANT COMMERCIAL LAND • 0.17 Acres
      2113 State Hwy 10, Caroga Lake, NY 12032-7736
      View Details
    • Value Estimation by Request
      0.12 Acres

      Pne Lk Part Of Outlet

      VACANT COMMERCIAL LAND • 0.12 Acres
      Pne Lk Part Of Outlet, Caroga Lake, NY 12032
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,712 SF

      Wooded Lot Near Recreational Amenities

      Small wooded lot near Royal Mountain Ski and Caroga Arts.
      2461 State Highway 10, Caroga Lake, NY 12032
      View Details
    • $200,000
      Pending

      Land Parcel in Caroga Lake

      Land parcel with privacy and year-round road access.
      25 Sand Point Rd, Caroga Lake, NY 12032
      View Details
    • Contact for pricing
      9,250 SF

      Dollar General in Caroga Lake

      Dollar General store in Caroga Lake, NY for sale.
      3266 Ny-29A, Caroga Lake, NY 12032
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2401 St Hwy
    Caroga Lake, NY 12032
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2401 St Hwy, Caroga Lake, NY, 12032
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!