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    3311 Ny-23A 3311 Palenville, NY 12463
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    3311 Ny-23A 3311 Palenville, NY 12463

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    • Commercial real estate
    • 10,479 SF
    • 1.38 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 3311 Ny-23A 3311

    Year built
    2000
    Lot size
    1.38 lot acres
    Property size
    10,479 SF
    Property type
    Commercial real estate

    Description

    This exceptional 10,479 sq ft property, situated on 1.38 acres in Palenville, NY, presents a unique investment opportunity. The beautifully restored venue boasts nine guest rooms, expansive indoor and outdoor event spaces perfect for weddings and concerts, two custom oakwood bars, and a professional stage. A vintage food truck, large commercial/catering kitchen, and substantial basement storage complete the offering. The property enjoys a prime location at the intersection of Routes 32A and 23A, a high-traffic corridor in Upstate NY. Its proximity to Kaaterskill Falls, Hunter and Windham Ski Resorts, North/South Lake State Park, and the towns of Woodstock and Hudson ensures consistent visitor traffic year-round. The meticulously restored interior blends historic charm with modern amenities, while the expansive hemlock-fenced lawn and gardens offer stunning mountain, sunset, and waterfall views of Kaaterskill Clove. This turnkey operation is ready for a new owner to continue its success, hosting events, accommodating guests, and becoming a vital part of the vibrant Catskills community. The property's location at the gateway to ski country and across from a popular eatery further enhances its appeal and potential for continued growth. This is a rare chance to acquire a thriving business with significant upside in a picturesque and desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Palenville
    County
    Greene
    State
    New York
    Longitude
    -74.0151
    Latitude
    42.1792

    Comparable in this City

    • Value Estimation by Request
      5,980 SF

      574 Route 32A

      Commercial real estate • 5,980 SF
      574 Route 32A, Palenville, NY 12463
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    • Value Estimation by Request
      2,560 SF

      419 Pennsylvania Ave, Unit 427

      MOBILE HOME PARK, TRAILER PARK • 2,560 SF
      419 Pennsylvania Ave, Palenville, NY 12463-2612
      View Details
    • Value Estimation by Request
      8,740 SF

      3334 Rte 23a

      VEHICLE SALES, RENTALS • 8,740 SF
      3334 Rte 23a, Palenville, NY 12463-2312
      View Details
    • Value Estimation
      $590,000
      9,824 SF

      186 Woodstock Ave, Unit 304

      CAMPGROUND, RV PARK • 9,824 SF
      186 Woodstock Ave, Palenville, NY 12463-2536
      View Details
    • Value Estimation by Request
      2,256 SF

      3303 Rte 23a

      OFFICE/RESIDENTIAL (MIXED USE) • 2,256 SF
      3303 Rte 23a, Palenville, NY 12463-2318
      View Details
    • Value Estimation by Request
      1,728 SF

      3317 Rte 23a

      OFFICE/RESIDENTIAL (MIXED USE) • 1,728 SF
      3317 Rte 23a, Palenville, NY 12463-2318
      View Details

    Similar Nearby for Sale

    • $75,000
      Pending

      Palenville Land: Build Your Retreat

      3.26-acre parcel with site plan approval near Catskill attractions.
      391 Pennsylvania Ave, Palenville, NY 12463
      View Details
    • $1,950,000

      Restored Venue, Hotel, Pub, Restaurant

      Turn-key venue, hotel, pub, and restaurant in the Great Northern Catskills.
      3311 Route 23A, Palenville, NY 12463
      View Details
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    Palenville, NY 12463
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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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