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Property profile & analytics
OFF-MARKET
Estimated value
$1,345,000
Motels
2285 Saranac Ave, Lake Placid, NY 12946-3387
Entity Owned
4-yr Hold
Free & Clear
Property ID
US63-3690134
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1976
Total area
6,952 SF
Lot
0.8 ac (34,848 SF)
Zoning code
05 - COMMERCIAL
APN
154001 42.142-1-7.008
UPID
US63-3690134
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
Current use
Occupant on record · Public records
-
The Boha Hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.45M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$1.35M
Owner & transaction history
Woodlake Inn LLC · 4 yrs held
Woodlake Inn LLC
since 2021
Last sale
$1.3M
3 recorded transactions
Zoning & alternative use
05 - COMMERCIAL · Lake Placid, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+18.2%
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 Placid submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Placid 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
$1,380,000
ML approach
$1,445,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,200,000
Current use
COMMERCIAL (GENERAL)
$1,420,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$1.35M
Range $1.21M – $1.48M · ±10% · vs last sale $1.35M (Oct 27 2021)
Last sale anchor
$1.35M
Oct 27 2021
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
$193 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$31,720
Tax year 2020
Assessed value
$1,398,800
Assessed 2023
Previous assessed
$1,335,000
+4.8% YoY
Effective rate
2.27%
On assessed value
Assessed land
$214,400
Assessed improvement
$1,184,400
Land market value
$214,400
Improvement market value
$1,184,400
Total market value
$1,398,800
Applied tax rate
154,002.0000
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
1976
Heating
STEAM
Buildings
2
Stories
2
Bathrooms
2
Total area
6,952 SF
Lot
0.8 ac (34,848 SF)
Zoning code
05 - COMMERCIAL
APN
154001 42.142-1-7.008
UPID
US63-3690134
Jurisdiction
ESSEX
Zoning & alternative use
05 - COMMERCIAL · Lake Placid, NY
Zoning 05 - COMMERCIAL · permitted uses
05 - COMMERCIAL · Lake Placid, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Placid. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.4M
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1976
Heating
STEAM
Stories
2
Buildings
2
Bathrooms
2
Lot
0.8 ac
Current owner
From public records · entity-resolved
Woodlake Inn LLC
Entity
Free & Clear · 4 yrs held
Mailing address
2285 SARANAC AVE, LAKE PLACID, NY 12946-3387
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2021
$134,500
Woodlake Inn LLC
Gabriel Iakovidis
Warranty Deed
—
Apr 8, 2020
—
Gabriel Iakovidis
—
Deed
related
$32,000 · Champlain National Bank
May 4, 2017
—
Gabriel Iakovidis
—
Deed
related
$189,950 · Champlain National Bank
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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