Historic Four-Unit
For Sale
$849,900
15 Main Street, Bemus Point, NY 14712
Residential, Bemus Point, NY
Property Size3,604 SF
Lot Size0.18 Acres
Price / SF$235.82
Days on Market95
Property Features for 15 Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 3, Bedroom 6, Bedroom 5, Bathroom 4, Basement, Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4
Parking features
Open
Patio and Porch features
Deck, Patio, Porch
Interior features
ProgrammableThermostat
Exterior features
Awnings, Balcony, Barbecue, Deck, EnclosedPorch, FullyFenced, Porch, Patio
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot
High school
Maple Grove Junior-Senior High
Elementary school district
Bemus Point
Middle school district
Bemus Point
High school district
Bemus Point
Directions
Left off Lakeside Dr, home is next to the library
Subdivision
Bemus Point-Village-063601
Standard status
Active
APN
063601-333-009-0001-004-000
Size
3,604 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
7391
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Well
Amenities
private porches
outdoor gathering areas
gas fire pit
dedicated workspace
Building Details
Year built
1912
Floors in Building
2
Number of units
4
Flooring type
Hardwood, Varies, Tile
Building materials
VinylSiding
Architectural style
Other
Listing Agency:
Century 21 Turner Brokers · Century 21 Real Estate
(716) 763-7506
Listed By:
Julie Barry · License #10401361166
(716) 397-3954
Added: Jun 17
Changed: Sep 16
Last Checked: Sep 19 at 6:06AM
MLS# R1687370
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1912, this 3,604-square-foot quadplex includes 4 rental units with 6 bedrooms and 4 bathrooms. The property combines a primary residence with a separate studio rental and offers a mix of hardwood and tile flooring, natural-gas forced-air heat, central air, and a gas water heater. Exterior improvements include porches, a balcony, deck, patio, awnings, barbecue areas, and full fencing. Open parking is provided, and the property is served by a well.
The property is located at 15 Main Street in Bemus Point, one block from Chautauqua Lake and three blocks from a public boat launch. Village shops, restaurants, and attractions are within walking distance. Long Point State Park’s beach is 2 miles away, while Chautauqua Institution, the National Comedy Center, and Midway State Park are also identified as nearby attractions.
The four-unit configuration supports vacation-rental use, extended stays, group lodging, and family gatherings, subject to applicable requirements.
The property is located at 15 Main Street in Bemus Point, one block from Chautauqua Lake and three blocks from a public boat launch. Village shops, restaurants, and attractions are within walking distance. Long Point State Park’s beach is 2 miles away, while Chautauqua Institution, the National Comedy Center, and Midway State Park are also identified as nearby attractions.
The four-unit configuration supports vacation-rental use, extended stays, group lodging, and family gatherings, subject to applicable requirements.
Key Highlights
- 3,604‑square‑foot quadplex built in 1912
- 4 rental units with 6 bedrooms and 4 bathrooms
- One block from Chautauqua Lake and 3 blocks from a public boat launch
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
$29,821
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
3.51%
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%
$596,420
$596.4K
Cap Rate 7%
$426,014
$426.0K
Cap Rate 9%
$331,344
$331.3K
Market Conditions
NOI Build-Up for 3,604 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
$48.7K $13.50/SF
− Vacancy
−$6.1K −$1.68/SF
EGI
$42.6K $11.82/SF
− OpEx
−$12.8K −$3.55/SF
NOI
$29.8K $8.27/SF
Area
Chautauqua County, NY
Vacancy
12.44%
Lease Rate
$13.50 /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%
$596,420
Cap Rate 7%
$426,014
Cap Rate 9%
$331,344
Alternative Uses
Best Use
Multifamily LT 5
$426.0K
$372.8K – $497.0K
NOI $29,821 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$389.8K
$341.1K – $454.8K
NOI $27,285 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$1.08M
$943.9K – $1.26M
NOI $75,511 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
Explore this area
Business Placement
Demographics for 14712, NY
3,242
Population
2,273
Households
1.4
Avg Household Size
51
Median Age
30%
College-Educated
99%
High-School Grad
25.8 sq mi
ZIP Area
126
Density / Sq Mi
$77,423
Median Household Income
$46,767
Median Earnings
$775
Median Rent
$219,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Historic multi-unit property with vacation-rental accommodations, outdoor gathering areas, and walkable access to village amenities.
Where is this quadplex located?
The property is located at 15 Main Street Bemus Point, NY.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 3,604‑square‑foot quadplex built in 1912; 4 rental units with 6 bedrooms and 4 bathrooms; One block from Chautauqua Lake and 3 blocks from a public boat launch
