Building Details

Building Size 7,402 SF

Year Built 1920

Stories 2

Listing Agency: 12 North Realty

Listed By: Desiree Roberts · License #10401256718 Show Phone

Source: Elliman

Added: Sep 6 Changed: Oct 25 Last Checked: Oct 24 at 6:42PM

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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.

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 / Yr

$75,946

Cap Rate

4.75%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,518,920 $1.5M

Cap Rate 7%

$1,084,943 $1.1M

Cap Rate 9%

$843,844 $843.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,402 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $142,829 @ 7.0% cap · market cap 8.93%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Korner Pizzeria & Family ... Restaurant

Suggested Use

Top Pick Building Supply Law Firm Hair Salon Plumbing Service Grocery & Convenience Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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