Waterfront Hospitality Portfolio with
For Sale
$1,399,900
Pending
110 State St, Clayton, NY 13624
Turnkey waterfront restaurant, motel, and rental trailer set up for guest stays and dock access.
Property Size10,774 SF
Days on Market350
Property Features for 110 State St
General Information
Standard status
Pending
Size
10,774 SF
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$15,000
Listing Agency:
Lake Ontario Realty, LLC
Listed By:
Amanda J Miller · License #49MI0953024
(315) 649-3434
Source:
Exprealty
Added: Oct 1, 2025
Changed: Sep 14
Last Checked: Sep 14 at 12:05PM
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 Lake Ontario Realty, LLC
Investment Insights
Based on property information with market context.
This for-sale package includes three turnkey renovated waterfront properties: the Island Bay Pier House Bar/Restaurant (approximately 4,000 SF), an 8-unit motel, and a 2-bedroom renovated trailer for short-term stays or owner occupancy. The pier house is reported to be in pristine condition with a nautical theme, and features a bar with capacity for 81, dining room seating for 91, a full basement, spacious kitchen, private party room, and walk-in cooler and freezer. Additional climate control includes forced air heating and cooling plus two mini splits in the kitchen. The motel is described as “like new” with single hotel rooms, studio 1-bedroom suites, and a 2-bedroom, 2-bath apartment unit, each with porches and balcony space. The 1974 trailer is approximately 800 SF and is set up for three-season use, with mention that a furnace can be added back in for winter.
The property offers waterfront access with five docks supporting about 10 boats and access to the river. The offering is listed with the main address of 110 State St, Clayton, NY, and additional addresses of 235 and 255 Mercier, and includes equipment and conveys items such as furniture, linens, dishes, appliances, and docks. Parking is described as excellent for all three properties.
For tenants, operators, or buyers seeking an all-in-one hospitality and lodging setup, this combination provides multiple revenue streams under one ownership: on-site dining and bar service through the pier house, guest accommodations through the motel, and an additional lodging option via the trailer.
The property offers waterfront access with five docks supporting about 10 boats and access to the river. The offering is listed with the main address of 110 State St, Clayton, NY, and additional addresses of 235 and 255 Mercier, and includes equipment and conveys items such as furniture, linens, dishes, appliances, and docks. Parking is described as excellent for all three properties.
For tenants, operators, or buyers seeking an all-in-one hospitality and lodging setup, this combination provides multiple revenue streams under one ownership: on-site dining and bar service through the pier house, guest accommodations through the motel, and an additional lodging option via the trailer.
Key Highlights
- Waterfront commercial property with 5 docks for about 10 boats and river access
- Island Bay Pier House bar/restaurant (approx. 4,000 SF) with full basement, spacious kitchen, private party room, walk‑in cooler and walk‑in freezer
- Pier House seating capacity: 81 in the bar and 91 in the dining room; forced‑air heating and cooling plus 2 extra mini splits in the kitchen
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
$114,807
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
8.20%
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%
$2,296,140
$2.3M
Cap Rate 7%
$1,640,100
$1.6M
Cap Rate 9%
$1,275,633
$1.3M
Market Conditions
NOI Build-Up for 10,774 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
$272.8K $25.32/SF
− Vacancy
−$31.1K −$2.89/SF
EGI
$241.7K $22.43/SF
− OpEx
−$126.9K −$11.78/SF
NOI
$114.8K $10.66/SF
Area
Jefferson County, NY
Vacancy
11.40%
Lease Rate
$25.32 /SF/Yr
Expense Ratio
52.50%
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%
$2,296,140
Cap Rate 7%
$1,640,100
Cap Rate 9%
$1,275,633
Alternative Uses
Best Use
Hotel Hospitality
$1.64M
$1.44M – $1.91M
NOI $114,807 @ 7.0% cap · market cap 8.20%
Second Best
Specialty Retail
$1.58M
$1.38M – $1.84M
NOI $110,543 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$2.97M
$2.60M – $3.46M
NOI $207,895 @ 7.0% cap · market cap 14.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
106
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13624, NY
4,967
Population
3,431
Households
1.4
Avg Household Size
45
Median Age
31%
College-Educated
85%
High-School Grad
63.3 sq mi
ZIP Area
78
Density / Sq Mi
$79,167
Median Household Income
$48,172
Median Earnings
$982
Median Rent
$224,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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- Clipper Inn — 126 State St, Clayton, NY 13624
- Mckinley House Bed and Breakfast — 505 Hugunin St, Clayton, NY 13624
Frequently Asked Questions
What type of property is this?
Motel - Turnkey waterfront restaurant, motel, and rental trailer set up for guest stays and dock access.
Where is this motel located?
The property is located at 110 State St Clayton, NY.
What is the asking price?
The asking price for this property is $1,399,900.
What are key features of this property?
This property features: Waterfront commercial property with 5 docks for about 10 boats and river access; Island Bay Pier House bar/restaurant (approx. 4,000 SF) with full basement, spacious kitchen, private party room, walk‑in cooler and walk‑in freezer; Pier House seating capacity: 81 in the bar and 91 in the dining room; forced‑air heating and cooling plus 2 extra mini splits in the kitchen
