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    1815 State Route 8 Lake Pleasant, NY 12108

    Sponsored
    For Sale
    $925,000

    Commercial Business - Lake Pleasant, NY

    Property size:
    5,000 SF
    Lot size:
    4.20 Acres
    Days on Market:
    43
    Last Refresh:
    Jan 29 at 10:06 am

    Property Features for 1815 State Route 8

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Kitchen
    Bathrooms
    5
    APN
    120.017-1-34
    Parking features
    Garage, Garage - Detached
    Basement Y/N
    1
    Size
    5,000 SF
    Lot size
    4.20 Acres

    Utilities

    Heating system
    Baseboard, Propane (Heating), Wood (Heating)
    Water front features
    Wflake, Waterfront
    Water front
    1

    Building Details

    Year built
    1940
    Year renovated
    1940
    Floors in Building
    2
    Flooring type
    Carpet, Hardwood, Laminate, Tile
    Building materials
    Wood Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Christy Wilt

    ALICIA C MILLER REAL ESTATE INC

    Listing agent Christy Wilt (518) 924-4255

    Listing date Dec 18, 2025

    MLS# 11251827 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Turnkey Restaurant and Bar Business

    The Oxbow Inn is a successful business situated on approximately 4.2 acres with 345 feet of lakefront. Currently operating as a full-service restaurant and bar with excellent reviews, the property includes a new kitchen. The exterior has a fresh coat of paint, and a completely new septic system is planned for installation on 12/9/2025. Upstairs, there are several rooms available for rent or other uses, along with a small apartment on the west side of the building and a separate 2-bedroom mobile home with a covered porch. A 2-car garage is also present. The outside area features extra event space, a deck, a propane fireplace, and a pergola. The large lawn offers ample room for outdoor events and includes picnic tables, two lean-tos with power, and a fire pit, creating a nice area for live music, games, and other activities. A 1000-gallon gas tank is installed to service snowmobiles in the winter, as the trail leads directly to the property. A recently installed large generator can handle power outages. The property size is 5000 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

    Auto Repair Shop Bed & Breakfast Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Pleasant
    County
    Hamilton
    State
    New York
    Longitude
    -74.490988
    Latitude
    43.43245

    Nearby Similar for Sale

    • $599,000
      9,932 SF

      Lake Pleasant Industrial/Manufacturing Facility

      Spacious 9,932 SF facility with flexible layout near NY State Lands.
      2452 Nys Rte 8, Lake Pleasant, NY 12108
      View Details

    FAQs

    What type of property is this?
    Hotel - Successful restaurant and bar with lakefront and rental income.
    Where is this hotel located?
    The property is located at 1815 State Route 8 Lake Pleasant, NY.
    What is the asking price?
    The asking price for this property is $925,000.
    What are key features of this property?
    This property features: - Turnkey business opportunity with a full-service restaurant and bar boasting excellent reviews.; - Prime location with **345 ft of lakefront on Oxbow Lake**, situated on approximately 4.2 acres.; - New septic system installed on 12/9/2025 and exterior with fresh coat of paint.
    (518) 924-4255
    Request Owner's contact information
    1815 State Route 8 Lake Pleasant, NY 12108
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    Lake Pleasant, NY 12108
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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
    1815 State Route 8 Lake Pleasant, NY 12108
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    We can help!
    Listing Contact
    Christy Wilt
    (518) 924-4255
    Learn more
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