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    1815 State Route 8 Lake Pleasant, NY 12108

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    Claim this Listing
    For Sale
    $925,000

    Commercial Business - Lake Pleasant, NY

    Property size:
    5,000 SF
    Lot size:
    4.20 Acres
    Price / SF:
    $185/SF
    Added:
    Feb 22, 2024
    Days on Market:
    806
    Last Refresh:
    May 8 at 12:06 am

    Property Features for 1815 State Route 8

    General Information

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

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    3979

    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

    Listing agent Christy Wilt

    Listing office ALICIA C MILLER REAL ESTATE INC MAIN ST RT 30 POB 328, WELLS, NY

    Listing date Feb 22, 2024

    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.

    HighLights

    • Turnkey business opportunity with a full‑service restaurant and bar boasting excellent reviews and a prime location on Oxbow Lake
    • 4.2‑acre property with 345 ft of lakefront on Oxbow Lake, offering significant outdoor event space
    • New septic system installed on 12/9/2025 and a recently updated kitchen
    • Multiple income streams: restaurant/bar, rooms for rent upstairs, a small apartment, and a separate 2‑bedroom mobile home
    • Features for year‑round use: 1000‑gal gas tank for snowmobile service (trail access), propane fireplace, and a large generator for power outages
    • Outdoor amenities include a deck, pergola, picnic tables, two lean‑tos with power, and a fire pit for live music and games

    Overview

    Lakefront Inn with Restaurant & Bar

    The Oxbow Inn is a successful business situated on approximately 4.2 acres, featuring 345 feet of lakefront on Oxbow Lake. Currently operating as a full-service restaurant and bar with excellent reviews, the property includes a recently updated kitchen. The exterior has a fresh coat of paint. Upstairs, there are several rooms available for rent or flexible use by the new owner. Additional accommodations include 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 property offers extra event space, a deck, a propane fireplace, and a pergola. The expansive lawn provides ample room for outdoor events, complete with picnic tables, two powered lean-tos, and a fire pit, creating an inviting area for live music and recreation. A 1000-gallon gas tank has been installed to service snowmobiles during the winter, with the trail leading directly to the property. A large generator has been installed. A completely new septic system was installed on 12/9/2025. The property, with approximately 5000 square feet of space, is a turnkey business with a strong reputation. The property is located in Lake Pleasant, NY.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bed & breakfasts

    Suggested Use

    Auto Repair Shop Bed & Breakfast Hotel & Motel

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

    Similar Places Nearby

    • Oxbow Inn — 1815 NY-8, Lake Pleasant, NY 12108

    Location Insight

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

    FAQs

    What type of property is this?
    Bed & breakfast - Turnkey restaurant and bar with lakefront access and rental units.
    Where is this bed & breakfast 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 and a prime location on Oxbow Lake; 4.2‑acre property with **345 ft of lakefront on Oxbow Lake**, offering significant outdoor event space; New septic system installed on 12/9/2025 and a recently updated kitchen
    (518) 924-4255
    We can help!
    Listing Contact
    Christy Wilt
    Learn More
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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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