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    20298 S Shore Road Three Mile Bay, NY 13693

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    Claim this Listing
    New
    For Sale
    $440,000

    LAND - Three Mile Bay, NY

    Property size:
    3,156 SF
    Lot size:
    68.00 Acres
    Price / SF:
    $139/SF
    Added:
    Apr 24, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 25 at 4:06 am

    Property Features for 20298 S Shore Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Parking features
    Driveway
    Standard status
    Active
    APN
    224489-079-014-0001-001-100
    Size
    3,156 SF
    Lot size
    68.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2

    Utilities

    Water front features
    Lake
    Water front
    1

    Building Details

    Year built
    1870
    Floors in Building
    1

    We can help!

    Listing Contact
    Amanda J Miller
    Amanda J Miller

    Listing agent Amanda J Miller License #49MI0953024

    Listing office Lake Ontario Realty, LLC 12396 NYS Route 12E, Chaumont, NY

    Listing date Apr 24, 2026

    MLS# S1675451 Listing URL

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Acreage on Point Peninsula Waterfront

    This property presents an opportunity to own acreage on the water, featuring approximately 68 acres with 340 feet of lakefront on Point Peninsula. The waterfront is situated across the road, offering sufficient land for a gazebo or entertaining area, potentially suitable for a small bunkhouse. The majority of the land across the road is suitable for a dream home, private cottage, or hobby farm on the lake. The land is level, with soil and views. The property is located on a year-round road with access to cable and electric utilities. The land can be further subdivided. The property is located in Three Mile Bay, NY.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Buchman Seth Law Firm

    Suggested Use

    Law Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Three Mile Bay
    County
    Jefferson
    State
    New York
    Longitude
    -76.2437149
    Latitude
    43.9739239

    Nearby Similar for Sale

    • $239,900

      Lake Ontario Waterfront Land

      Rare 5-acre waterfront lot with 850' frontage on Lake Ontario.
      Fire Rd 22, Three Mile Bay, NY 13693
      View Details
    • $349,900

      Lakefront Acreage for RV or Home

      52 acres with lake frontage ideal for RV or home.
      25659 Fire Road 22, Three Mile Bay, NY 13693
      View Details
    • $79,000
      3,288 SF

      Expansive Land Parcel Near Lake Ontario

      9.22-acre parcel ideal for building or recreation near Lake Ontario.
      24897/899 County Route 57 lot: B, Three Mile Bay, NY 13693
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - 68 acres with 340' lakefront for dream home or farm.
    Where is this waterfront land located?
    The property is located at 20298 S Shore Road Three Mile Bay, NY.
    What is the asking price?
    The asking price for this property is $440,000.
    What are key features of this property?
    This property features: 68 acres of land with **340' of lakefront on Point Peninsula**; Waterfront access across the road, suitable for a gazebo or entertaining area; Ideal for building a dream home, private cottage, or hobby farm
    (315) 649-3434
    We can help!
    Listing Contact
    Amanda J Miller
    Amanda J Miller
    Real Estate License ID: 49MI0953024
    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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