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    8388 Bay Street Ext Sodus Point, NY 14551

    View on Map
    Sponsored
    For Sale
    $1,075,000

    MULTI_FAMILY - Other - Sodus Point, NY

    Property size:
    4,300 SF
    Lot size:
    0.75 Acres
    Days on Market:
    17
    Last Refresh:
    Mar 28 at 9:06 am

    Property Features for 8388 Bay Street Ext

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Rooms
    Bedroom 5, Bathroom 1, Bathroom 2, Bathroom 8, Bathroom 7, Bedroom 6, Bedroom 8, Bedroom 7, Bathroom 6, Bedroom 1, Bathroom 9, Bedroom 3, Bathroom 5, Bedroom 4, Bathroom 3, Bedroom 9, Bathroom 4, Bedroom 2, Basement
    Bedrooms
    9
    Bathrooms
    9
    APN
    544203-071-119-0018-316-169-0000
    Parking features
    Garage
    Patio and Porch features
    Deck
    Interior features
    NaturalWoodwork
    Exterior features
    Deck
    Accessibility
    Accessible Approach with Ramp
    Appliances
    GasWaterHeater
    Size
    4,300 SF
    Lot size
    0.75 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public
    Water front
    1

    Building Details

    Year built
    2016
    Floors in Building
    3
    Number of units
    3
    Flooring type
    Varies, Hardwood, Carpet, Laminate
    Building materials
    AluminumSiding, AtticCrawlHatchwaysInsulated, BlownInInsulation, VinylSiding
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Raymond Luke Cino

    Cornerstone Realty Associates

    Listing agent Raymond Luke Cino License #10491201091

    Listing date Mar 12, 2026

    MLS# R1660288 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.

    Learn more

    Overview

    Turnkey Sodus Point Investment Property

    This is a prime investment opportunity located in the Village of Sodus Point, NY. Three Schooners Landing is a turnkey, condo-style three-unit short-term rental property built in 2016 and kept in like-new condition. Each up-and-down unit is identical and fully furnished, including linens, decor, kitchenware, and quality finishes, making it ready for immediate Airbnb or short-term rental operations. The property offers 4,300 sq ft of living space across the three units. Each unit features its own garage, full basement with egress windows, modern mechanicals, and private entrances. Situated on a 0.75-acre parcel, there is room for potential expansion, with space to add an additional unit subject to approvals. Recent upgrades enhance guest experience and operational efficiency, including a newly built custom property website, integrated SEO marketing, Facebook presence, Google Business profile with 5-star reviews, new grills, remote keyless entry, remote thermostats, water-leak detection with auto shutoff, alarm system, and branded marketing materials. The property is located in Wayne County, NY, and is zoned LCR.
    Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Gym & Fitness Center Big Box & Wholesale Store Accounting Firm Grocery & Convenience Store Bar & Pub Hotel & Motel Cafe & Coffee Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Sodus Point
    County
    Wayne
    State
    New York
    Longitude
    -76.985297
    Latitude
    43.269706

    Nearby Similar for Sale

    • New
      $249,900
      2,233 SF

      Historic Sodus Point Income Property

      2233 sq ft historic residence with income potential.
      8451 Bay St, Sodus Point, NY 14555
      View Details

    FAQs

    What type of property is this?
    Short term rental property - Three-unit short-term rental property in like-new condition, fully furnished.
    Where is this short term rental property located?
    The property is located at 8388 Bay Street Ext Sodus Point, NY.
    What is the asking price?
    The asking price for this property is $1,075,000.
    What are key features of this property?
    This property features: - Turnkey, condo-style three-unit short-term rental property built in 2016 in like-new condition.; - Prime LCR-zoned investment opportunity in the Village of Sodus Point, NY.; - Each unit is fully furnished with quality finishes, ready for immediate Airbnb or short-term rental operations.
    (315) 524-7320
    Request Owner's contact information
    8388 Bay Street Ext Sodus Point, NY 14551
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    Sodus Point, NY 14551
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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
    8388 Bay Street Ext Sodus Point, NY 14551
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    We can help!
    Listing Contact
    Raymond Luke Cino
    Real Estate License ID: 10491201091
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