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Property profile & analytics
OFF-MARKET
Estimated value
$9,130,000
Motels
2223 State Rte 9th 9, Lake George, NY 12845-6126
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US63-5501752
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1980
Total area
80,591 SF
Lot
7.6 ac (331,056 SF)
Zoning code
05 - COMMERCIAL
APN
522289 264.06-3-23.1
UPID
US63-5501752
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$9.54M
Comparable Approach
Comparable
$11.25M
Blend (final)
Blend
$9.13M
Owner & transaction history
Nicvin LLC · 9 yrs held
Nicvin LLC
since 2017
2 recorded transactions
Zoning & alternative use
05 - COMMERCIAL · Lake George, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lake George submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake George submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$10,335,000
6.5%
$9,540,000
7%
$8,860,000
Blend value · Realmo final
$9.13M
Range $8.22M – $10.04M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$113 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Assessed value
$10,000,000
Assessed 2023
Previous assessed
$10,000,000
+0.0% YoY
Assessed land
$1,590,000
Assessed improvement
$8,410,000
Land market value
$1,892,857
Improvement market value
$10,011,905
Total market value
$11,904,762
Applied tax rate
522,201.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Motels
Use group
MOTEL
Status
Off-Market
Year built
1980
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
2
Total area
80,591 SF
Lot
7.6 ac (331,056 SF)
Zoning code
05 - COMMERCIAL
APN
522289 264.06-3-23.1
UPID
US63-5501752
Jurisdiction
WARREN
Zoning & alternative use
05 - COMMERCIAL · Lake George, NY
Zoning 05 - COMMERCIAL · permitted uses
05 - COMMERCIAL · Lake George, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake George. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1980
Heating
NONE
Cooling
Yes
Stories
2
Buildings
1
Lot
7.6 ac
Current owner
From public records · entity-resolved
Nicvin LLC
Entity
Mailing address
PO BOX 448, LAKE GEORGE, NY 12845-0448
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2017
$14,500,000
Nicvin LLC
Turf Lake George INC
Warranty Deed
$7,748,000 · Glens Falls Nat'l Bk & Tr Co
—
—
Turf Lake George INC
—
Deed Of Trust
related
$1,100,000 · Glens Falls Nat'l Bk & Tr Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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