Mixed-Use Property with Lake
For Sale
$399,999
1715 E Lake Road, Skaneateles, NY 13152
The property offers lake views throughout and requires a complete renovation for its next use.
Property Size5,300 SF
Days on Market98
Property Features for 1715 E Lake Road
General Information
Standard status
Active
Size
5,300 SF
Total Parking Spaces
20
Property subtype
Commercial
Zoning
Com
Taxes and HOA fees
Annual Taxes
$4,064
Building Details
Building Size
5,300 SF
Year Built
1820
Buildings
1
Stories
2
Listing Agency:
Howard Hanna Real Estate
(315) 685-0111
Listed By:
Sunshine Sara Equinozzi
(315) 685-0111
Source:
Northstarwny
Added: May 15
Changed: Aug 18
Last Checked: Aug 19 at 3:48PM
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 Howard Hanna Real Estate
Investment Insights
Based on property information with market context.
Built in 1820, this mixed-use property includes approximately 5,300 square feet of interior living space on just under five acres. Lake views extend across each level, while the building’s current condition calls for a full renovation before reopening or repositioning the asset.
The property at 1715 E Lake Road in Skaneateles has operated as a restaurant, pub, and bed and breakfast since 1946. Its established hospitality history and mixed-use classification provide a foundation for evaluating future redevelopment or continued lodging and food-service uses, subject to applicable approvals.
The property at 1715 E Lake Road in Skaneateles has operated as a restaurant, pub, and bed and breakfast since 1946. Its established hospitality history and mixed-use classification provide a foundation for evaluating future redevelopment or continued lodging and food-service uses, subject to applicable approvals.
Key Highlights
- Built in 1820
- Approximately 5,300 square feet of interior living space
- Situated on just under five acres
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
$16,451
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
4.11%
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%
$329,020
$329.0K
Cap Rate 7%
$235,014
$235.0K
Cap Rate 9%
$182,789
$182.8K
Market Conditions
NOI Build-Up for 5,300 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
$22.9K $4.32/SF
− Vacancy
−$962 −$0.18/SF
EGI
$21.9K $4.14/SF
− OpEx
−$5.5K −$1.03/SF
NOI
$16.5K $3.10/SF
Area
Onondaga County, NY
Vacancy
4.20%
Lease Rate
$4.32 /SF/Yr
Expense Ratio
25.00%
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%
$329,020
Cap Rate 7%
$235,014
Cap Rate 9%
$182,789
Alternative Uses
Best Use
Mixed Use
$704.8K
$616.7K – $822.3K
NOI $49,339 @ 7.0% cap · market cap 12.33%
Second Best
Hotel Hospitality
$535.7K
$468.7K – $625.0K
NOI $37,498 @ 7.0% cap · market cap 9.37%
Theoretical Best
Office A
$921.1K
$805.9K – $1.07M
NOI $64,475 @ 7.0% cap · market cap 16.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 13152, NY
7,696
Population
4,044
Households
1.9
Avg Household Size
52
Median Age
55%
College-Educated
96%
High-School Grad
63.3 sq mi
ZIP Area
122
Density / Sq Mi
$102,727
Median Household Income
$54,688
Median Earnings
$990
Median Rent
$427,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property offers lake views throughout and requires a complete renovation for its next use.
Where is this mixed-use property located?
The property is located at 1715 E Lake Road Skaneateles, NY.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Built in 1820; Approximately 5,300 square feet of interior living space; Situated on just under five acres
