Lakefront Resort With
For Sale
$4,500,000
179 S Rainbow Shores Road, Pulaski, NY 13142
Historic hospitality property with guest cabins, event capacity, and Lake Ontario frontage.
Property Size11,716 SF
Lot Size3.83 Acres
Price / SF$384.09
Days on Market106
Property Features for 179 S Rainbow Shores Road
General Information
Standard status
Active
Size
11,716 SF
Total Parking Spaces
100
Lot size
3.83 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$24,000
Amenities
lakeside
cabins
wedding venue
parking for 50-100 cars
Propane Tank - Owned
Propane Tank - Leased
Building Details
Building Size
11,716 SF
Year Built
1920
Buildings
8
Stories
1
Units
16
Listing Agency:
Payne Team, LLC
Listed By:
Dawn M. Payne · License #10491209069
(845) 649-1720
Source:
Geracerealty
Added: Jul 20
Changed: Oct 29
Last Checked: Oct 29 at 8:53AM
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
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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.
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
NOI $151,523 @ 7.0% cap · market cap 3.37%
Second Best
Hotel Hospitality
$1.07M
$939.1K – $1.25M
NOI $75,129 @ 7.0% cap · market cap 1.67%
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.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
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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
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Market
Vacancy Rate% for Retail in Northeast region
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 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‑acre resort property on Lake Ontario; 500 feet of lakefront; 15 cabins, many of which have been updated
