Building Details

Building Size 15,171 SF

Listing Agency: Syracuse Office k***@pyramidbrokerage.com Show Phone

Listed By: Kimberly Boynton Show Phone

Source: Pyramidbrokerage

Added: Sep 25, 2025 Changed: Aug 8 Last Checked: Aug 21 at 4:20AM

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Investment Insights

Based on property information with market context.

A well-established, multi-generational business and real property are available for sale. This offering includes a new and used boat dealership with repair and storage services. The business is currently the only area dealer for White River Marine Group, manufacturers of Tracker, Sun Tracker, Nitro, Tahoe, and Ascend boats. The closest dealers are located more than 100 miles away. The property comprises six parcels, including waterfront access. The sale price covers both the business and the real property. Inventory will be determined at the time of sale. The property is located on Golden Street, Chapman Street, Main Street, and Morris Street. It is suitable for automotive, retail, marina, and specialty purposes.

Key Highlights

• Established multi‑generational business and real property for sale.
• Exclusive area boat dealer for White River Marine Group (Tracker, Sun Tracker, Nitro, Tahoe & Ascend boats).
• Includes boat dealer, repair, and storage business.

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

$93,628

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

5.67%

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%

$1,872,560 $1.9M

Cap Rate 7%

$1,337,543 $1.3M

Cap Rate 9%

$1,040,311 $1.0M

Market Conditions

NOI Build-Up for 15,171 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

$143.8K $9.48/SF

− Vacancy

−$10.1K −$0.66/SF

EGI

$133.8K $8.82/SF

− OpEx

−$40.1K −$2.64/SF

NOI

$93.6K $6.17/SF

Area

St. Lawrence County, NY

Vacancy

7.00%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

30.00%

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%

$1,872,560

Cap Rate 7%

$1,337,543

Cap Rate 9%

$1,040,311

Alternative Uses

Best Use

Retail

$2.76M

$2.41M – $3.21M (±1% cap)

NOI $192,893 @ 7.0% cap · market cap 11.69%

Second Best

Industrial

$1.34M

$1.17M – $1.56M (±1% cap)

NOI $93,628 @ 7.0% cap · market cap 5.67%

Theoretical Best

Office A

$3.76M

$3.29M – $4.39M (±1% cap)

NOI $263,466 @ 7.0% cap · market cap 15.97%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Wright's Marine (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Big Box & Wholesale Store Building Supply Grocery & Convenience Store Food Market

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

Location Intelligence

Trade Area within ½ mile

62

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

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

Questions? Ask Rey

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What type of property is this? Where is this automotive properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Automotive property - Multi-generational boat dealership, repair, and storage business with waterfront property.

Where is this automotive property located?

The property is located at 115 Main Street Morristown, NY.

What is the asking price?

The asking price for this property is $1,650,000.

What are key features of this property?

This property features: Established multi‑generational business and real property for sale.; Exclusive area boat dealer for White River Marine Group (Tracker, Sun Tracker, Nitro, Tahoe & Ascend boats).; Includes boat dealer, repair, and storage business.