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    Waterfront Mixed-Use Opportunity in Mayville Title is generated by Realmo AI

    188 S Erie Street, Mayville, NY 14757

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    For Lease
    $825,000 SF/Yr $378,125,000/Mo (calc)

    COMMERCIAL - Mayville, NY

    Property size:
    5,500 SF
    Lot size:
    0.71 Acres
    Added:
    May 27, 2026
    Days on Market:
    3
    Last Refresh:
    May 29 at 7:06 pm

    Property Features for 188 S Erie Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    B2
    Parking
    41
    Standard status
    Active
    APN
    062801-262-012-0003-010-000
    Size
    5,500 SF
    Lot size
    0.71 Acres

    Taxes and HOA fees

    Tax Annual Amount
    10015

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1995
    Floors in Building
    1
    Building materials
    SprayFoamInsulation
    Roof type
    Metal

    We can help!

    Listing Contact
    Matthew Wroda

    Listing agent Matthew Wroda License #10301211617

    Listing office Howard Hanna Holt - Mayville W Lake Rd, PO Box 174, Mayville, NY

    Listing date May 27, 2026

    MLS# R1678275

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Landmark waterfront property on Chautauqua Lake with over 5,000 sq ft of mixed‑use space.
    • Extraordinary potential for residential, hospitality, or commercial development.
    • Features include soaring ceilings, architectural trusses, open‑concept interiors, and panoramic lake views.
    • Existing infrastructure includes a commercial kitchen, large bar, waterfront patios, and ample parking.
    • Exceptional accessibility with dock rights, snowmobile trail access, and high visibility from water and roads.
    • Located in B2 Lakeside Business Overlay District, offering true mixed‑use flexibility.

    Overview

    Located on the shores of Chautauqua Lake, the property at 188 South Erie Street offers over 5,000 square feet of mixed-use space. The property, formerly a lakefront destination, presents an opportunity for residential, hospitality, and commercial ventures. The building features ceilings, architectural trusses, open-concept interiors, and lake views. Originally designed for large-scale gatherings, the layout is suited for a waterfront residence, boutique hospitality concept, mixed-use development, or commercial ventures. Existing infrastructure includes a commercial kitchen layout, a central bar, waterfront patios, oversized windows, and parking. Dock rights are leased through the Village, with access directly outside the building. There is direct access to the snowmobile trail system and visibility from the water, Route 394, and the Chautauqua Rails-to-Trails. Located within the B2 Lakeside Business Overlay District, the property offers mixed-use flexibility with additional opportunities potentially available subject to municipal approvals. The property is positioned near Pittsburgh, Buffalo, Cleveland, and the Canadian border. The lot size is 0.71 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Watermark Restaurant Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mayville
    County
    Chautauqua
    State
    New York
    Longitude
    -79.494408
    Latitude
    42.246967

    FAQs

    What type of property is this?
    Mixed-use property - Landmark property with mixed-use potential on Chautauqua Lake.
    Where is this mixed-use property located?
    The property is located at 188 S Erie Street Mayville, NY.
    What is the lease rate?
    The lease rate is $825,000.
    What are key features of this property?
    This property features: Landmark waterfront property on Chautauqua Lake with over 5,000 sq ft of mixed‑use space.; Extraordinary potential for residential, hospitality, or commercial development.; **Features include soaring ceilings, architectural trusses, open‑concept interiors, and panoramic lake views.**
    (937) 459-7239
    We can help!
    Listing Contact
    Matthew Wroda
    Real Estate License ID: 10301211617
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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