Lakefront Restaurant and Cabins
For Sale
$4,500,000
179 S Rainbow Shores Road, Pulaski, NY 13142
Historic lakefront property with restaurant and cabins on 3.83 acres.
Property Size11,716 SF
Lot Size3.83 Acres
Price / SF$384.09
Days on Market753
Property Features for 179 S Rainbow Shores Road
General Information
Standard status
Active
Size
11,716 SF
Lot size
3.83 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$24,000
Building Details
Year Built
1920
Listing Agency:
Payne Team LLC
(845) 649-1720
Listed By:
Dawn M. Payne · License #10491209069
(845) 649-1720
Source:
Exitrealty
Added: Jul 18, 2024
Changed: Aug 8
Last Checked: Aug 9 at 5:29AM
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 Payne Team LLC
Investment Insights
Based on property information with market context.
This property, situated on 3.83 acres, features 500 feet of lakefront along Lake Ontario. The site includes 15 cabins, many of which have been updated. The property is near private state land, ensuring privacy. With parking for 50 to 100 cars, the location can accommodate large events. The property has historically been a five-star restaurant and country club. The property offers a unique opportunity to own a piece of 1920s charm combined with modern luxury. The cabins provide a blend of vintage aesthetics and contemporary amenities. The location is suitable for wedding venues. The property size is 11716 square feet. Heating is fueled by oil above ground.
Key Highlights
- 3.83 acres with 500 feet of Lake Ontario lakefront
- Established business with 15 updated cabins**
- Suitable for large events with parking for 50‑100 cars
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
$151,523
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
3.37%
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%
$3,030,460
$3.0M
Cap Rate 7%
$2,164,614
$2.2M
Cap Rate 9%
$1,683,589
$1.7M
Market Conditions
NOI Build-Up for 11,716 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
$210.9K $18.00/SF
− Vacancy
−$8.9K −$0.76/SF
EGI
$202.0K $17.24/SF
− OpEx
−$50.5K −$4.31/SF
NOI
$151.5K $12.93/SF
Area
Oswego County, NY
Vacancy
4.20%
Lease Rate
$18.00 /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%
$3,030,460
Cap Rate 7%
$2,164,614
Cap Rate 9%
$1,683,589
Alternative Uses
Best Use
Specialty Retail
$2.16M
$1.89M – $2.53M
NOI $151,523 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.34M
$2.04M – $2.73M
NOI $163,582 @ 7.0% cap · market cap 3.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13142, NY
6,323
Population
3,465
Households
1.8
Avg Household Size
43
Median Age
23%
College-Educated
92%
High-School Grad
72.2 sq mi
ZIP Area
88
Density / Sq Mi
$85,000
Median Household Income
$41,152
Median Earnings
$852
Median Rent
$157,500
Median Home Value
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - Historic lakefront property with restaurant and cabins on 3.83 acres.
Where is this conventional restaurant located?
The property is located at 179 S Rainbow Shores Road Pulaski, NY.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 3.83 acres with **500 feet of Lake Ontario lakefront**; Established business with 15 updated cabins**; Suitable for large events with parking for 50‑100 cars
