Waterfront Quadplex with Private
For Sale
Contact for pricing
131 Saint Lawrence Avenue, Waddington, NY 13694
Renovated four-unit property with deep-water access, private dock, and significant commercial space for flexible use.
Property Size5,760 SF
Price / SF$151.91
Days on Market57
Property Features for 131 Saint Lawrence Avenue
General Information
Standard status
Active
Size
5,760 SF
Total Parking Spaces
15
Property subtype
Mixed Use, Multifamily, Office
Zoning
Commercial
Occupancy
75%
Investment Type
Stabilized
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Year Built
1986
Year Renovated
2023
Buildings
1
Units
4
Tenancy
Multi
Listing Agency:
O'Brien Properties
(315) 244-5746
Listed By:
Lisa O'Brien · License #NY 10491212419
Source:
Crexi
Added: Jun 17
Changed: Aug 8
Last Checked: Aug 11 at 5:03PM
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 O'Brien Properties
Investment Insights
Based on property information with market context.
This fully renovated, well-maintained property is a four-unit quadplex with approximately 5,760 square feet of heated interior space, plus deep-water access to the St. Lawrence River. The main level includes expansive commercial space spanning half of the main level, with additional commercial space nearly filling the lower level. The four residential units include a furnished 1-bedroom, 1-bath unit currently operating as an Airbnb, a 2-bedroom, 1-bath apartment with long-term tenants, and an additional 1-bedroom, 1-bath unit rented monthly to medical professionals. Each unit is heated with an efficient natural gas furnace. Recent updates completed in 2023–2024 include a new roof, updated electrical with four separate meter options, modern PEX plumbing, and new water heaters.
The property provides 85 feet of level waterfront frontage along the St. Lawrence River and includes a private dock for boating access. Paved parking is available in both the front and rear of the building, supporting tenant and customer use depending on the configuration.
The layout supports multiple operating strategies, including maintaining the current multi-unit mix, converting space between commercial and residential uses, establishing a live-work arrangement, or using the property as one large unit. Separate electric meters and the existing commercial footprint may be particularly useful for tenants or owner-operators seeking flexibility while preserving income-producing residential units.
The property provides 85 feet of level waterfront frontage along the St. Lawrence River and includes a private dock for boating access. Paved parking is available in both the front and rear of the building, supporting tenant and customer use depending on the configuration.
The layout supports multiple operating strategies, including maintaining the current multi-unit mix, converting space between commercial and residential uses, establishing a live-work arrangement, or using the property as one large unit. Separate electric meters and the existing commercial footprint may be particularly useful for tenants or owner-operators seeking flexibility while preserving income-producing residential units.
Key Highlights
- 1986‑built, renovated 4‑unit property with 5,760 SF of heated interior space
- Deep‑water St. Lawrence River access with a private dock and 85 ft of level waterfront frontage
- 2023–2024 renovations include new roof, updated electrical with four separate meter options, and modern PEX plumbing
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
$77,947
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
8.91%
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%
$1,558,940
$1.6M
Cap Rate 7%
$1,113,529
$1.1M
Cap Rate 9%
$866,078
$866.1K
Market Conditions
NOI Build-Up for 5,760 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
$145.2K $25.20/SF
− Vacancy
−$15.2K −$2.65/SF
EGI
$129.9K $22.55/SF
− OpEx
−$52.0K −$9.02/SF
NOI
$77.9K $13.53/SF
Area
St. Lawrence County, NY
Vacancy
10.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
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%
$1,558,940
Cap Rate 7%
$1,113,529
Cap Rate 9%
$866,078
Alternative Uses
Best Use
Healthcare Medical
$1.11M
$974.3K – $1.30M
NOI $77,947 @ 7.0% cap · market cap 8.91%
Second Best
Office B
$1.08M
$942.9K – $1.26M
NOI $75,433 @ 7.0% cap · market cap 8.62%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,030 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
99
Businesses Nearby
Explore this area
Business Placement
Demographics for 13694, NY
1,316
Population
607
Households
2.2
Avg Household Size
50
Median Age
29%
College-Educated
90%
High-School Grad
18.1 sq mi
ZIP Area
73
Density / Sq Mi
$77,308
Median Household Income
$49,556
Median Earnings
$718
Median Rent
$207,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Renovated four-unit property with deep-water access, private dock, and significant commercial space for flexible use.
Where is this quadplex located?
The property is located at 131 Saint Lawrence Avenue Waddington, NY.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 1986‑built, renovated 4‑unit property with 5,760 SF of heated interior space; Deep‑water St. Lawrence River access with a private dock and 85 ft of level waterfront frontage; 2023–2024 renovations include new roof, updated electrical with four separate meter options, and modern PEX plumbing
