Mixed-Use Waterfront
For Sale
Contact for pricing
188 S ERIE ST, Mayville, NY 14757
Mixed-use waterfront building with commercial kitchen, bar, and large patio areas, plus leased dock rights for on-water access.
Property Size5,500 SF
Price / SF$150
Days on Market97
Property Features for 188 S ERIE ST
General Information
Standard status
Active
Size
5,500 SF
Total Parking Spaces
41
Property subtype
Mixed Use, Retail, Multifamily
Zoning
B2 - Multi Use
Additional Details
Road Access
Yes
Building Details
Year Built
1995
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Howard Hanna Holt - Mayville
Listed By:
Nicholas Holt · License #10401209202
(716) 581-1347
Source:
Crexi
Added: Jun 3
Changed: Aug 22
Last Checked: Sep 7 at 2:32AM
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 Holt - Mayville
Investment Insights
Based on property information with market context.
188 S Erie St in Mayville, NY presents a mixed-use waterfront building with over 5,000 square feet of open-concept interior space and dramatic architectural trusses. The existing improvements include a commercial kitchen layout, a large central bar, oversized windows, expansive waterfront patio areas, and generous on-site parking. The overall footprint is adaptable for multiple concepts, including hospitality, commercial, or residential uses.
The property offers dock rights that are leased through the Village, with access directly outside the building. It also provides direct access to the snowmobile trail system and benefits from prominent visibility from the water, Route 394, and the Chautauqua Rails-to-Trails, supporting year-round accessibility and exposure. The site sits within the B2 Lakeside Business Overlay District, offering mixed-use flexibility. Additional opportunities may be available subject to municipal approvals.
For operators and owners, the combination of existing hospitality infrastructure, large gathering-oriented interior space, and waterfront outdoor areas can support restaurant and bar concepts, boutique hospitality programming, or a mixed-use redevelopment approach that incorporates waterfront living and compatible commercial use. Purchase or lease options are available, with final tenant or development structure dependent on approvals.
The property offers dock rights that are leased through the Village, with access directly outside the building. It also provides direct access to the snowmobile trail system and benefits from prominent visibility from the water, Route 394, and the Chautauqua Rails-to-Trails, supporting year-round accessibility and exposure. The site sits within the B2 Lakeside Business Overlay District, offering mixed-use flexibility. Additional opportunities may be available subject to municipal approvals.
For operators and owners, the combination of existing hospitality infrastructure, large gathering-oriented interior space, and waterfront outdoor areas can support restaurant and bar concepts, boutique hospitality programming, or a mixed-use redevelopment approach that incorporates waterfront living and compatible commercial use. Purchase or lease options are available, with final tenant or development structure dependent on approvals.
Key Highlights
- Waterfront mixed‑use building built in 1995 offering over 5,000 sq ft of adaptable indoor space
- Includes commercial kitchen layout, large central bar, and oversized windows with expansive waterfront patios
- Dock rights are leased through the Village with access directly outside the building
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
$30,512
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
3.70%
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%
$610,240
$610.2K
Cap Rate 7%
$435,886
$435.9K
Cap Rate 9%
$339,022
$339.0K
Market Conditions
NOI Build-Up for 5,500 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
$73.9K $13.44/SF
− Vacancy
−$9.7K −$1.76/SF
EGI
$64.2K $11.68/SF
− OpEx
−$33.7K −$6.13/SF
NOI
$30.5K $5.55/SF
Area
Chautauqua County, NY
Vacancy
13.10%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
52.50%
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%
$610,240
Cap Rate 7%
$435,886
Cap Rate 9%
$339,022
Alternative Uses
Best Use
Hotel Hospitality
$435.9K
$381.4K – $508.5K
NOI $30,512 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,236 @ 7.0% cap · market cap 13.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
193
Businesses Nearby
Explore this area
Business Placement
Demographics for 14757, NY
3,072
Population
2,181
Households
1.4
Avg Household Size
47
Median Age
37%
College-Educated
93%
High-School Grad
43.7 sq mi
ZIP Area
70
Density / Sq Mi
$63,542
Median Household Income
$40,042
Median Earnings
$677
Median Rent
$179,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Resort - Mixed-use waterfront building with commercial kitchen, bar, and large patio areas, plus leased dock rights for on-water access.
Where is this resort located?
The property is located at 188 S ERIE ST Mayville, NY.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Waterfront mixed‑use building built in 1995 offering over 5,000 sq ft of adaptable indoor space; Includes commercial kitchen layout, large central bar, and oversized windows with expansive waterfront patios; Dock rights are leased through the Village with access directly outside the building
