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    365 River Dr Lake Luzerne, NY 12846
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    Property profile & analytics

    365 River Dr Lake Luzerne, NY 12846

    View on Map
    • Motels
    • 5.00 lot acres
    Off-Market
    Property ID
    US63-2599699
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • ERDL / Property Management Company
    • Riverside Cottage / Vacation Rental
    • Whispering Pines Cottages / Hotel & Motel / Resort

    Property Details for 365 River Dr

    Year built
    1960
    Lot size
    5.00 lot acres
    Property type
    Motels
    Property subtype
    Hotels

    Description

    This exceptional hospitality property, situated on five acres along the scenic Hudson River in Lake Luzerne, NY, presents a unique investment opportunity. The property boasts twelve recently renovated cottages, comprising a seven-bedroom lodge, a four-bedroom house, and ten two-bedroom cottages, all featuring fully equipped kitchens. A total of 31 bedrooms are available across the twelve units. The property includes a newly constructed dock, a small beach area, a pontoon boat, kayaks, and a keyless entry system, minimizing operational costs and maximizing efficiency for short-term and long-term rentals. Built in 1960 and extensively renovated in 2024, the property is zoned RT and consists of twelve buildings across two stories. Its prime location offers year-round rental potential, with easy access to popular destinations like Lake George and Saratoga Springs (15 minutes away), and Albany International Airport (45 minutes away). The lodge and three other units are winterized, while the remaining units are seasonal. This turnkey operation presents strong upside potential, given its recent renovations and prime location within a highly desirable tourist area, just three hours from both Boston and New York City. The property's amenities and proximity to outdoor recreational activities in the Adirondacks make it an ideal destination for vacationers seeking a tranquil escape. This is a rare opportunity to acquire a well-maintained, income-generating property with significant growth potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lake Luzerne
    County
    Warren
    State
    New York
    Longitude
    -73.82664251
    Latitude
    43.2725816

    Comparable in this City

    • $175,000
      916 SF

      Commercial Property on Lake Avenue

      Commercial property with high visibility and ample parking.
      598 Lake Ave, Lake Luzerne, NY 12846
      View Details
    • $1,550,000
      5,780 SF

      Adirondack Lodges: Income Potential

      Two Adirondack-style lodges offer rental income or private residence.
      746 Howe Rd, Lake Luzerne, NY 12846
      View Details
    • $1,550,000
      5,780 SF

      Adirondack Lodges Investment Opportunity

      Two Adirondack lodges offer rental income or private residence potential.
      746 Howe Rd, Lake Luzerne, NY 12846
      View Details
    • $175,000

      Lake Luzerne Land Parcel

      27.76 acres ready for development in Lake Luzerne, NY.
      L18 East River Dr, Lake Luzerne, NY 12846
      View Details
    • $60,000

      4 Acre Lot for Sale

      Partially cleared 4-acre lot with natural beauty and potential.
      L59 Old Stage Rd, Lake Luzerne, NY 12846
      View Details
    • New
      $99,900
      0.64 Acres

      Adirondack Land with Lake Access

      0.64-acre lot with deeded lake access in Lake Luzerne.
      104 Sagamore St, Lake Luzerne, NY 12846
      View Details

    Similar Nearby for Sale

    • $175,000
      916 SF

      Commercial Property on Lake Avenue

      Commercial property with high visibility and ample parking.
      598 Lake Ave, Lake Luzerne, NY 12846
      View Details
    • $1,550,000
      5,780 SF

      Adirondack Lodges: Income Potential

      Two Adirondack-style lodges offer rental income or private residence.
      746 Howe Rd, Lake Luzerne, NY 12846
      View Details
    • $1,550,000
      5,780 SF

      Adirondack Lodges Investment Opportunity

      Two Adirondack lodges offer rental income or private residence potential.
      746 Howe Rd, Lake Luzerne, NY 12846
      View Details
    • $175,000

      Lake Luzerne Land Parcel

      27.76 acres ready for development in Lake Luzerne, NY.
      L18 East River Dr, Lake Luzerne, NY 12846
      View Details
    • $60,000

      4 Acre Lot for Sale

      Partially cleared 4-acre lot with natural beauty and potential.
      L59 Old Stage Rd, Lake Luzerne, NY 12846
      View Details
    • New
      $99,900
      0.64 Acres

      Adirondack Land with Lake Access

      0.64-acre lot with deeded lake access in Lake Luzerne.
      104 Sagamore St, Lake Luzerne, NY 12846
      View Details
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    Lake Luzerne, NY 12846
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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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