Adjoining Downtown Bars &
New
For Sale
$1,600,000
10 & 12 James St, Alexandria, NY 13607
Two independently operated venues combine bar service, pizza, live entertainment, and a second-floor dance club.
Property Size7,402 SF
Days on Market4
Property Features for 10 & 12 James St
General Information
Standard status
Active
Size
7,402 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$19,350
Building Details
Building Size
7,402 SF
Year Built
1920
Stories
2
Listing Agency:
12 North Realty
Listed By:
Desiree Roberts · License #10401256718
(315) 649-3434
Source:
Elliman
Added: Sep 6
Changed: Sep 8
Last Checked: Sep 8 at 5:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of 12 North Realty
Investment Insights
Based on property information with market context.
This offering includes The Korner and Skiffs, two adjoining businesses operated independently on separate parcels in downtown Alexandria Bay. Skiffs includes a first-floor horseshoe bar, seating, three speed wells, and a 12-tap glycol system, along with a second-floor bar and dance club. Separate entrances serve the two levels. The Korner operates as a pizza business and complements the adjoining food-and-beverage venue.
The properties occupy a prominent corner at 10 & 12 James St near downtown shops, restaurants, entertainment, and seasonal attractions. Their position places them near annual events including Bikers Weekend, Blues in the Bay, and Pirates Weekend. The buildings date to 1920 and offer distinct operating areas across the two parcels.
The properties occupy a prominent corner at 10 & 12 James St near downtown shops, restaurants, entertainment, and seasonal attractions. Their position places them near annual events including Bikers Weekend, Blues in the Bay, and Pirates Weekend. The buildings date to 1920 and offer distinct operating areas across the two parcels.
Key Highlights
- Two adjoining businesses at 10 & 12 James St in downtown Alexandria Bay
- Separate parcels and independent entrances support distinct operations
- Skiffs includes two full bars, including a first‑floor horseshoe bar
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$75,946
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,518,920
$1.5M
Cap Rate 7%
$1,084,943
$1.1M
Cap Rate 9%
$843,844
$843.8K
Market Conditions
NOI Build-Up for 7,402 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$105.7K $14.28/SF
− Vacancy
−$4.4K −$0.60/SF
EGI
$101.3K $13.68/SF
− OpEx
−$25.3K −$3.42/SF
NOI
$75.9K $10.26/SF
Area
Jefferson County, NY
Vacancy
4.20%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,518,920
Cap Rate 7%
$1,084,943
Cap Rate 9%
$843,844
Alternative Uses
Best Use
Specialty Retail
$1.08M
$949.3K – $1.27M
NOI $75,946 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $142,829 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
7k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Dining 37%
Home Improvements & Furnishings 19%
Family Dollar
Shops & Services
3,221 visits/mo
0.3 miles
Jreck Subs
Dining
2,651 visits/mo
0.1 miles
Charles Garlock & Sons
Home Improvements & Furnishings
1,391 visits/mo
0.3 miles
Demographics for 13607, NY
1,610
Population
2,079
Households
0.8
Avg Household Size
52
Median Age
34%
College-Educated
96%
High-School Grad
16.3 sq mi
ZIP Area
99
Density / Sq Mi
$58,167
Median Household Income
$45,625
Median Earnings
$649
Median Rent
$168,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Skiffs — 12 James St, Alexandria Bay, NY 13607
- Downtown Club — 11/13 James St, Alexandria Bay, NY 13607
- Coleman's Dock Of The Bay — 2 James St, Alexandria Bay, NY 13607
- Sunken Rock Pub — James St, Church St, Alexandria Bay, NY 13607
- Riverboat Bar — 15 Church St, Alexandria Bay, NY 13607
Frequently Asked Questions
What type of property is this?
Bar & Pub - Two independently operated venues combine bar service, pizza, live entertainment, and a second-floor dance club.
Where is this bar & pub located?
The property is located at 10 & 12 James St Alexandria, NY.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Two adjoining businesses at 10 & 12 James St in downtown Alexandria Bay; Separate parcels and independent entrances support distinct operations; Skiffs includes two full bars, including a first‑floor horseshoe bar
