Waterfront Mixed-Use Marina
New
For Sale
$3,900,000
16 Bethune Street, Alexandria Bay, NY 13607
CommercialSale, Alexandria Bay, NY
Property Size8,800 SF
Lot Size0.47 Acres
Price / SF$443.18
Days on Market7
Property Features for 16 Bethune Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
com
Zoning description
Commercial
Rooms
Basement
Parking
10
Lot features
Irregular Lot
Elementary school district
Alexandria
Middle school district
Alexandria
High school district
Alexandria
Directions
Coming down Church St., left on to Bethune St, main house and Airbnb 3 unit right on the road, marina down behind.
Subdivision
Alexandria-Village-222201
Standard status
Active
APN
222201-007-029-0001-045-000
Size
8,800 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Annual Amount
13700
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Propane (Heating)
Water front features
River Access, Stream
Water front
1
Building Details
Year built
1990
Floors in Building
2
Roof type
Asphalt, Metal
Listing Agency:
Lake Ontario Realty, LLC
(315) 649-3434
Listed By:
Amanda J Miller · License #49MI0953024
(315) 778-1191
Added: Sep 14
Changed: Sep 15
Last Checked: Sep 20 at 10:06AM
MLS# S1714591
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.
This mixed-use waterfront property combines a marine business with multiple buildings, a three-unit multifamily component, and a renovated three-bedroom primary home. The main building contains an elevator, office, retail area, bathrooms, fiberglass paint shop, storage, a third-floor bonus area, and two furnaces serving year-round heating. Additional improvements include a large boathouse, woodshop, crane, and dock facilities. The sale includes the business equipment, inventory, and operating contents described for the marine use.
The property encompasses 0.4683 acres with approximately 170 feet of shoreline and faces the town docks in downtown Alexandria Bay. Public water and public sewer serve the site, which is zoned com. Waterfront features include river access and a stream. The property also includes two one-bedroom units and one three-bedroom unit, along with a basement, asphalt and metal roofing, and 8,800 square feet of property size. Built in 1990, the site is heated with forced air and propane.
The property encompasses 0.4683 acres with approximately 170 feet of shoreline and faces the town docks in downtown Alexandria Bay. Public water and public sewer serve the site, which is zoned com. Waterfront features include river access and a stream. The property also includes two one-bedroom units and one three-bedroom unit, along with a basement, asphalt and metal roofing, and 8,800 square feet of property size. Built in 1990, the site is heated with forced air and propane.
Key Highlights
- 0.4683‑acre mixed‑use waterfront property in Alexandria Bay
- Approximately 170 feet of shoreline facing the town docks
- 8,800 square feet of property size; built in 1990
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
$123,384
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
3.16%
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%
$2,467,680
$2.5M
Cap Rate 7%
$1,762,629
$1.8M
Cap Rate 9%
$1,370,933
$1.4M
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
$222.8K $25.32/SF
− Vacancy
−$25.4K −$2.89/SF
EGI
$197.4K $22.43/SF
− OpEx
−$74.0K −$8.41/SF
NOI
$123.4K $14.02/SF
Area
Jefferson County, NY
Vacancy
11.40%
Lease Rate
$25.32 /SF/Yr
Expense Ratio
37.50%
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%
$2,467,680
Cap Rate 7%
$1,762,629
Cap Rate 9%
$1,370,933
Alternative Uses
Best Use
Mixed Use
$1.76M
$1.54M – $2.06M
NOI $123,384 @ 7.0% cap · market cap 3.16%
Second Best
Retail
$1.52M
$1.33M – $1.77M
NOI $106,223 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$2.43M
$2.12M – $2.83M
NOI $169,805 @ 7.0% cap · market cap 4.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
340
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
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?
Mixed-use property - Mixed-use waterfront property combining marina operations, retail space, multifamily lodging, and an owner residence.
Where is this mixed-use property located?
The property is located at 16 Bethune Street Alexandria Bay, 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: 0.4683‑acre mixed‑use waterfront property in Alexandria Bay; Approximately 170 feet of shoreline facing the town docks; 8,800 square feet of property size; built in 1990
