Established Waterfront Business and
For Sale
Contact for pricing
115 Main St, Ogdensburg, NY
Multi-generational boat dealership, repair, and storage business for sale.
Property Size15,171 SF
Lot Size3.12 Acres
Price / SF$108.76
Days on Market693
Property Features for 115 Main St
General Information
Standard status
Active
Size
15,171 SF
Lot size
3.12 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Cushman & Wakefield | Pyramid Brokerage - Syracuse
(315) 882-1178
Listed By:
Kimberly Boynton
(315) 882-1178
Source:
Moodyscre
Added: Sep 16, 2024
Changed: Jul 6
Last Checked: Aug 8 at 12:09PM
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 Cushman & Wakefield | Pyramid Brokerage - Syracuse
Investment Insights
Based on property information with market context.
A well-established, multi-generational business and real property are available for sale. The offering includes a new and used boat dealership with repair and storage operations. The business is currently the area's sole dealer for White River Marine Group, manufacturers of Tracker, Sun Tracker, Nitro, Tahoe, and Ascend boats. The closest competing 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 separately at the time of sale. Tax map numbers for the parcels are: Golden Street: 83.041-3-23, Chapman Street: 83.041-1-13, 115 Main Street: 83.041-1-14, 205 Morris Street: 83.041-3-10, 801 Morris Street: 83.041-6-1 and Golden Street: 83.041-3-8.111. The property is located at 115 Main St, Ogdensburg, NY and has a size of 15171 square feet.
Key Highlights
- Established, multi‑generational boat dealership with real property included.
- Exclusive area dealer for White River Marine Group boats (Tracker, Sun Tracker, Nitro, Tahoe & Ascend).
- Significant market advantage due to lack of nearby competing dealers (over 100 miles away).
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
$113,691
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
6.89%
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%
$2,273,820
$2.3M
Cap Rate 7%
$1,624,157
$1.6M
Cap Rate 9%
$1,263,233
$1.3M
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
−$20.1K −$1.32/SF
NOI
$113.7K $7.49/SF
Area
St. Lawrence County, NY
Vacancy
7.00%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$2,273,820
Cap Rate 7%
$1,624,157
Cap Rate 9%
$1,263,233
Alternative Uses
Best Use
Warehouse
$1.62M
$1.42M – $1.89M
NOI $113,691 @ 7.0% cap · market cap 6.89%
Second Best
Industrial
$1.34M
$1.17M – $1.56M
NOI $93,628 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$3.76M
$3.29M – $4.39M
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
Location Intelligence
Trade Area within ½ mile
255
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Marina - Multi-generational boat dealership, repair, and storage business for sale.
Where is this marina located?
The property is located at 115 Main St Ogdensburg, 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 boat dealership with real property included.; Exclusive area dealer for White River Marine Group boats (Tracker, Sun Tracker, Nitro, Tahoe & Ascend).; Significant market advantage due to lack of nearby competing dealers (over 100 miles away).
