Waterfront Marina and Multi-Building
For Sale
$3,900,000
16 Bethune Street Alexandria, Ny, NY 13607
Waterfront marina property with multiple buildings, dockage, fuel services, and an attached 3-unit short-term rental operation.
Property Size8,800 SF
Price / SF$443.18
Days on Market63
Property Features for 16 Bethune Street Alexandria
General Information
Standard status
Active
Size
8,800 SF
Total Parking Spaces
10
Property subtype
CommercialSale
Zoning
com
Taxes and HOA fees
Annual Taxes
$13,700
Amenities
Full
Yes
No
2
Inventory,Land and Building
IrregularLot
0.4683
10.0
170X120
170
OnSite
8800.0
5
Building Details
Building Size
8,800 SF
Year Built
1990
Buildings
5
Stories
2
Listed By:
Nick Gugliuzza
(585) 798-9898
Source:
Zambitorealtors
Added: Jul 5
Changed: Sep 2
Last Checked: Sep 5 at 4:05AM
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 Nick Gugliuzza
Investment Insights
Based on property information with market context.
This waterfront marina property includes multiple buildings and substantial marine support improvements. The main building features an elevator, office and retail space, bathrooms, fiberglass paint shop, and two furnaces, with heating for winter use, plus a third-floor bonus area and extensive storage. The offering also includes a large boathouse, a woodshop for wood renovations, and a crane. The sale is described as including the marine business equipment, inventory, and related items to continue operations.
The site is positioned facing the town docks with approximately 170 feet of shoreline. The property is served by public water and sewer and includes a multi-unit residential component operated as a successful Airbnb business, consisting of two one-bedroom units and one three-bedroom unit. The remarks also note owners renovated a two-bedroom primary home on site.
The marina is described as having fuel dock gas sales and one of the larger tanks used to service big boats. According to the remarks, the short-term rental units rent from $199 to $329 per night.
The site is positioned facing the town docks with approximately 170 feet of shoreline. The property is served by public water and sewer and includes a multi-unit residential component operated as a successful Airbnb business, consisting of two one-bedroom units and one three-bedroom unit. The remarks also note owners renovated a two-bedroom primary home on site.
The marina is described as having fuel dock gas sales and one of the larger tanks used to service big boats. According to the remarks, the short-term rental units rent from $199 to $329 per night.
Key Highlights
- Waterfront marina property with approximately 170' shoreline and dockage; includes public water and sewer
- Multi‑building setup: 5 buildings totaling 8,800 SF, built in 1990, on an 0.4683‑acre lot (170' x 120') with 10 total parking spaces
- Main building includes an elevator, office, retail store, bathrooms, and a fiberglass paint shop; 2 furnaces and heating available
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
$275,328
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
7.06%
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%
$5,506,560
$5.5M
Cap Rate 7%
$3,933,257
$3.9M
Cap Rate 9%
$3,059,200
$3.1M
Market Conditions
NOI Build-Up for 8,800 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
$526.9K $59.88/SF
− Vacancy
−$26.3K −$2.99/SF
EGI
$500.6K $56.89/SF
− OpEx
−$225.3K −$25.60/SF
NOI
$275.3K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
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%
$5,506,560
Cap Rate 7%
$3,933,257
Cap Rate 9%
$3,059,200
Alternative Uses
Best Use
Apartment 5plus
$3.93M
$3.44M – $4.59M
NOI $275,328 @ 7.0% cap · market cap 7.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$21.90M
$19.17M – $25.56M
NOI $1,533,312 @ 7.0% cap · market cap 39.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
16,248
Businesses Nearby
Explore this area
Business Placement
Demographics for 13607, NY
1,610
Population
2,079
Households
0.8
Avg Household Size
52
Median Age
34%
College-Educated
96%
High-School Grad
16.3 sq mi
ZIP Area
99
Density / Sq Mi
$58,167
Median Household Income
$45,625
Median Earnings
$649
Median Rent
$168,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Marina - Waterfront marina property with multiple buildings, dockage, fuel services, and an attached 3-unit short-term rental operation.
Where is this marina located?
The property is located at 16 Bethune Street Alexandria Ny, NY.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Waterfront marina property with approximately 170' shoreline and dockage; includes public water and sewer; Multi‑building setup: 5 buildings totaling 8,800 SF, built in 1990, on an 0.4683‑acre lot (170' x 120') with 10 total parking spaces; Main building includes an elevator, office, retail store, bathrooms, and a fiberglass paint shop; 2 furnaces and heating available
