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    OFF-MARKET
    Motels

    365 River Dr, Lake Luzerne, NY 12846

    5 ac lot Built 1960
    Property ID
    US63-2599699
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Motels
    Year built 1960
    Lot 5 ac (217,800 SF)
    UPID US63-2599699
    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
    • ERDL Property Management Company
    • Riverside Cottage Vacation Rental
    • Whispering Pines Cottages Hotel & Motel Resort
    Value estimations
    Realmo proprietary · 4 methods
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    Blend (final) Blend
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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