Waterfront Motel with
For Sale
$1,399,900
Pending
110 State Street, Clayton, NY 13624
COMMERCIAL - Clayton, NY
Property Size10,774 SF
Lot Size1.10 Acres
Days on Market320
Property Features for 110 State Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
421
Zoning description
Commercial
Rooms
Basement
Parking
50
Parking features
Driveway
Exterior features
PropaneTankLeased
Lot features
Rectangular, Rectangular Lot
Elementary school district
Thousand Islands
Middle school district
Thousand Islands
High school district
Thousand Islands
Directions
Located on the corner of State st and Mercier in the Village of Clayton
Subdivision
Clayton-Village-223201
Standard status
Pending
APN
223201-020-048-0001-054-200
Size
10,774 SF
Lot size
1.10 Acres
Taxes and HOA fees
Tax Annual Amount
15000
Utilities
Sewer type
Public Sewer
Heating system
Propane (Heating), Forced Air
Cooling system
Central Air
Water source
Public
Water front features
Stream, River Access
Water front
1
Amenities
river access
private party room
yard
docks
firepits
Building Details
Year built
1957
Floors in Building
1
Number of units
8
Flooring type
Vinyl, Hardwood, Varies, Linoleum
Roof type
Metal
Listing Agency:
Lake Ontario Realty, LLC
(315) 649-3434
Listed By:
Amanda J Miller · License #49MI0953024
(315) 649-3434
Added: Oct 1, 2025
Changed: Aug 4
Last Checked: Aug 16 at 2:06PM
MLS# S1640946
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.
Investment Insights
Based on property information with market context.
Waterfront motel offering a cluster of three renovated hospitality components, including the Island Bay Pier House Bar/Restaurant (about 4,000 SF) and a like-new 8-unit motel with a nautical theme, plus a renovated 2-bedroom trailer suited for AirBnB or owner use. The bar/restaurant features a spacious kitchen, a private party room, walk-in cooler and walk-in freezer, and forced air heating and cooling with two additional mini splits in the kitchen. Restaurant seating includes bar capacity and dining room capacity, and the property is described as turn-key ready for a new owner.
The waterfront setting includes stream and river access with five docks for about 10 boats, plus an expansive yard leading down to the docks. Motel units include a mix of single hotel rooms, studio one-bedroom suites, and a 2-bedroom, 2-bath apartment unit with front porches and balconies. Additional operational conveniences include a full basement and propane heating, along with public water and public sewer.
The property is served by a driveway for parking and is described as having equipment and docks included, with furniture, linens, dishes, and appliances conveying. It was built in 1957 and has a metal roof.
The waterfront setting includes stream and river access with five docks for about 10 boats, plus an expansive yard leading down to the docks. Motel units include a mix of single hotel rooms, studio one-bedroom suites, and a 2-bedroom, 2-bath apartment unit with front porches and balconies. Additional operational conveniences include a full basement and propane heating, along with public water and public sewer.
The property is served by a driveway for parking and is described as having equipment and docks included, with furniture, linens, dishes, and appliances conveying. It was built in 1957 and has a metal roof.
Key Highlights
- Five docks for about 10 boats with stream and river access
- Island Bay Pier House Bar/Restaurant is about 4,000 SF with kitchen, private party room, cooler, and freezer
- Like‑new 8‑unit motel with a mix of single rooms, studio 1‑bedroom suites, and a 2‑bedroom 2‑bath apartment unit
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
Property Profile
Current Use
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Clipper Inn — 126 State St, Clayton, NY 13624
- Wooden Boat Inn — 606 Alexandria St, Clayton, NY 13624
- Mckinley House Bed and Breakfast — 505 Hugunin St, Clayton, NY 13624
- The Calumet — 617 Union St, Clayton, NY 13624
- St Lawrence Motor Lodge — 744 James St, Clayton, NY 13624
Frequently Asked Questions
What type of property is this?
Motel - Waterfront motel property with river access, five docks, and renovated guest accommodations plus an on-site bar restaurant.
Where is this motel located?
The property is located at 110 State Street 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: Five docks for about 10 boats with stream and river access; Island Bay Pier House Bar/Restaurant is about 4,000 SF with kitchen, private party room, cooler, and freezer; Like‑new 8‑unit motel with a mix of single rooms, studio 1‑bedroom suites, and a 2‑bedroom 2‑bath apartment unit
