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    78 Water St Lyons, NY 14489

    For Sale
    $199,900

    Three-story, 12-room income property with redevelopment potential in Lyons.

    Lot size:
    0.10 Acres

    Property Features for 78 Water St

    General Information

    Lot size
    0.10 Acres

    Building Details

    Year built
    1900

    Source: Empire Realty Group Agent Nancy Ramos

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Lyons Investor Special Opportunity

    Located in the heart of Lyons, this three-story boarding house at 7882 Water Street presents an opportunity to restore a historically utilized 12-room income property. The property also includes additional office space on the lower level. Formerly fully occupied and income-producing, the building has been vacant for the past 46 months and is currently condemned, requiring updates to bring it back up to code. The property is located steps from Central Park, offering visibility, walkability, and proximity to local shops, government offices, and the Erie Canal. Once revitalized, it could serve as a multi-unit rental, boarding house, or even be reimagined into a live-work space or community housing project. The property has redevelopment potential and is suitable for a buyer with a plan to breathe life back into a centrally located building.
    Location Intelligence

    Current Use by Public Records

    Live-work space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lyons
    County
    Wayne
    State
    New York
    Longitude
    -76.9952401
    Latitude
    43.0629243

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    FAQs

    What type of property is this?
    Apartment building - Three-story, 12-room income property with redevelopment potential in Lyons.
    Where is this apartment building located?
    The property is located at 78 Water St Lyons, NY.
    What is the asking price?
    The asking price for this property is $199,900.
    What are key features of this property?
    This property features: - Prime location in the heart of Lyons, steps from Central Park, shops, and the Erie Canal.; - Significant redevelopment potential for multi-unit rental, boarding house, live-work space, or community housing.; - Historically utilized as a 12-room income-producing boarding house with additional office space.
    (315) 359-0850
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    78 Water St Lyons, NY 14489
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