2910 Lake Moraine RdHamilton, NY 13346

Property Details for 2910 Lake Moraine Rd

Lot size

9.28 AC

Property type

Office buildings

APN

254089 138.14-1-16

APU

25408913814116

Description

The Grove at Lake Moraine, located at 2910 Lake Moraine Rd, Hamilton, NY 13346, presents a unique investment opportunity. This mixed-use property encompasses approximately 9.3 acres with 475 feet of Lake Moraine frontage, offering stunning lake views and recreational opportunities. The property features 26 buildings, including charming cabins housing 51 guest rooms, each equipped with private baths, two double beds, cable TV, WiFi, and climate control. A full-service restaurant within the main lodge provides dining options with both indoor and outdoor seating. Recreational amenities include a game room (Tepee Room) with a bowling alley, and a spacious conference center suitable for corporate events or private functions. A cozy fireplace room with a bar offers a relaxing atmosphere. Ample parking is available with over 20 carports. The property boasts a permitted zoning of COM 1 and was built in 1967. The total square footage is between 30,000 and 35,000 square feet. The asking price is $2,825,000. This established lakeside retreat presents a compelling opportunity for a variety of uses, capitalizing on its prime location and existing infrastructure. The property includes 25 keys.

• CAP approach

  CAP return

  Valuation

  6%

  $100,418,736

  6.5%

  $92,694,216

  7%

  $86,073,200

• Comparable approach

  Method

  Valuation

  Relative Method

  $53,172,632

  Geo Method

  $52,817,608

• Alternative Use

  Use

  Valuation

  Residential

  $114,940,832

  Hospitality

  $105,285,184

  Educational

  $87,596,040

  Medical

  $90,608,600

  Retail

  $136,260,496

Location Insight

City

Hamilton

County

Madison

State

New York

Latitude

42.8556

Longitude

-75.5231

CBSA code

45060

CBSA name

SYRACUSE, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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