Building Details

Year Built 1920

Listing Agency: Payne Team, LLC

Listed By: Dawn M. Payne · License #10491209069 Show Phone

Source: Skinnercnyrealty

Added: Jul 20 Changed: Oct 13 Last Checked: Oct 7 at 4:01PM

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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.

Built in 1920, Rainbow Shores is a lakefront hospitality property on 3.83 acres along Lake Ontario. The improvements include 15 cabins, many updated, along with an established restaurant facility and grounds suited to guest accommodations and events. A total of 11,716 square feet is reported for the property.

The site includes 500 feet of lakefront and parking for 50 to 100 cars. Its setting near private state land provides a natural backdrop for weddings, corporate functions, and other gatherings. The property also offers outdoor areas connected to the shoreline environment. Above-ground oil heating is reported.

Key Highlights

• 3.83‑acre resort property on Lake Ontario
• 500 feet of lakefront
• 15 cabins, many of which have been updated

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$151,523

Cap Rate

3.37%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $151,523 @ 7.0% cap · market cap 3.37%

Second Best

Hotel Hospitality

$1.07M

$939.1K – $1.25M (±1% cap)

NOI $75,129 @ 7.0% cap · market cap 1.67%

Theoretical Best

Office A

$2.34M

$2.04M – $2.73M (±1% cap)

NOI $163,582 @ 7.0% cap · market cap 3.64%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Resorts

Suggested Use

Top Pick Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1

Businesses Nearby

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

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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What type of property is this? Where is this resorts located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Resort - Historic hospitality property with guest cabins, event capacity, and Lake Ontario frontage.

Where is this resort located?

The property is located at 179 S Rainbow Shores Rd 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‑acre resort property on Lake Ontario; 500 feet of lakefront; 15 cabins, many of which have been updated