SHERWOOD FOREST MOTOR INN - OFF MARKET

Ray Brook NY Special 100+ Acre Opportunity

HIGH TRAFFIC HIGH VISIBILITY LOCATION – LAKE PLACID AREA

Price: $ 8.5 Million for 100+ acres, “first refusals” and Motel assets and profits

BUSINESS: Now operates operating as a Cabin Rentals and Site Rental Hospitality Business that can ease economic transition while development designs evolve and essential permits are secured, construction marshaled, etc. Site has 100+ acres in high traffic, commercial business zoning, and high visibility location. Current development has 21 log cabin style units of various sizes and standard. There is also a fully permitted 20-unit recreational vehicle park with septic and water, and commercial zoning approval is in place to add a 25 unit motel. Options exist on adjacent properties that can permit institutional, industrial, residential or high end hospitality development.

INVESTMENT HIGHLIGHTS:

100+ acre core wooded site, partially developed with 30+ buildings, located on high traffic highway between famous resort villages of Lake Placid and Saranac Lake in the beautiful Adirondack Park
Site has 2 body of water - Wolf Lake / Duprey Pond and prior site of Raybrook’s town water (and possible bottled water marketing), a pond, existing profitable amenities (cabin and RV Park) and spectacular views.
Present development includes
- Two rustic log cabin complexes
  - One on the main road, 10 units
  - One tucked in the woods, 21 units
- Lake for swimming and boating
- Owner’s Residence and Office - a charming 3 bedroom home
- 20 Unit Recreational Vehicle Park - permitted to 50 units, all with individual septic and electrical
- Easy entry to “back country” wooded property at slightly higher elevation
No permits or zoning approvals needed for 25 unit new motel.
Profitable low cost hospitality business -SHERWOOD FOREST MOTOR INN - of cabin and site rentals to ease economic transition while development designs evolve and essential permits are secured, construction marshaled, etc.
First Rights of refusal for additional adjacent Duprey prior owned parcels that totals 240 acres

FACILITIES AND EQUIPMENT: Location is between Saranac Lake and westward of the famous world-class resort of Lake Placid, the “Olympic Village” site of 1980 and 1932 Winter Olympic games and an alpine resort village of 3,000 year-around residents. Sherwood Forest enjoys the best assets of both communities, yet due to unique features as well as a more rural setting, the land provides the privacy of a large estate, or new business complex. Mostly flat, the property has some topography that encourages one's imagination and has spectacular views. Sherwood Forest Motor Inn has 1000± feet of frontage. The properties include the 21 motor inn rustic cabins, an owner’s residence (three story frame building, with office, fireplace and 3 B/R and 2 Baths), 20 unit Sleepy Hollow RV park, private rentals and 22 ± acre Wolf Lake. The land is ideally suited for development of singular or multi-use purposes.

OPPORTUNITY: Sleepy Hollow’s current and “under refusal” property is unique, and has a small hospitality business that can provide interim financial income and housing. Potential uses include: Institutional campus (Education, religious, research, high tech manufacturing), Hotel/motel, RV Park, Single or dual Residence/Town Homes, Upscale Retail/restaurant w/approval, Day Care Facility, Nordic Ski Center, , Mobile Home Court, Tourist rooming house, B&B, Retail or Service Trade, Shopping Center or Country Gift Shops – Tourist Attraction, Convenience Store, Business Complex, Public/municipal Center, Church Complex, Research Facility, Science Labs & Development Center, Multi-family Dwellings, Mixed Commercial – residential sites, Residential Campsite, Light Industrial use and others.

FINANCIAL: The current business is a comfortable source of income to the owner and a transition resource. The cabin and RV Park operation is basic, focused, and profitable as operated and the owners’ together cover the office, and with minimal assistance, the requirements of overnight, seasonal and RV guests, from check-in to maintenance. Marketing is by good visibility signage, minimal advertising, brochures and a website that emphasizes the “central locution between Placid and Saranac, the cabins and the ability to visit the Olympic Village, Ski Whiteface, Tour Olympic Facilities and visit the nearby Tri Lakes amenities”. Rack rates are $ 135-$150, and seasonal utilization is about 47% at a $ 55 rate, generating revenues of about $ 150,000. Another $ 9,000 comes from the R/V sites. The results and the owner’s hands-on performance of most tasks support a comfortable lifestyle.

PRICE AND TERMS: The 100 + acres with its first refusal rights for adjacent land and the current cabin and RV business is priced at $ 8.5 million, turnkey. A developer with significant equity is the ideal buyer.

Also offered through Adirondack Country Homes Realty Inc, Darleen March, Broker