Lakefront Marina
For Sale
$4,800,000
1881 Pilot Knob Road, Fort Ann, NY 12844
Multi-parcel marina property with docks, boat services, retail space, storage facilities, and residential improvements.
Property Size11,780 SF
Price / SF$407.47
Days on Market171
Property Features for 1881 Pilot Knob Road
General Information
Standard status
Active
Size
11,780 SF
Total Parking Spaces
25
Zoning
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$57,787
Amenities
gas docks
boat launch ramp
dock slips
heated service shop
office space
apartment
storage sheds
lakeside retail store
sundeck
lakefront home
private deck
indoor boat storage
outdoor boat storage
retail storefront
Building Details
Year Built
1975
Buildings
1
Stories
1
Listing Agency:
Davies-Davies & Assoc Real Est
(518) 796-9068
Listed By:
Daniel L Davies · License #10401284992
(518) 796-9068
Source:
Capmarkrealty
Added: Mar 13
Changed: Aug 30
Last Checked: Aug 30 at 1:41PM
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 Davies-Davies & Assoc Real Est
Investment Insights
Based on property information with market context.
This four-parcel marina portfolio combines waterfront operations with retail, storage, and residential improvements. The 0.66-acre lakefront parcel includes gas docks, multiple boat slips, a launch ramp, a heated service shop with parts department, offices, two storage sheds, and a lakeside retail store with a sundeck. A three-bedroom apartment is located above the service area, while a separate year-round three-bedroom, 1.5-bath lakefront home includes a private deck.
Two additional parcels totaling 5.95 acres contain multiple buildings for indoor and outdoor boat storage. The offering also includes a 1.95-acre commercial parcel with a retail storefront near the intersection of State Route 149 and a busy intersection. The property is zoned Commercial and is located at 1881 Pilot Knob Road in Kattskill Bay, near Lake George.
Two additional parcels totaling 5.95 acres contain multiple buildings for indoor and outdoor boat storage. The offering also includes a 1.95-acre commercial parcel with a retail storefront near the intersection of State Route 149 and a busy intersection. The property is zoned Commercial and is located at 1881 Pilot Knob Road in Kattskill Bay, near Lake George.
Key Highlights
- Four‑parcel marina portfolio with lakefront, storage, retail, and residential improvements
- 0.66‑acre lakefront parcel with gas docks, multiple slips, and a boat launch ramp
- Heated service shop includes a parts department and office space
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
$146,934
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
3.06%
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%
$2,938,680
$2.9M
Cap Rate 7%
$2,099,057
$2.1M
Cap Rate 9%
$1,632,600
$1.6M
Market Conditions
NOI Build-Up for 11,780 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
$219.1K $18.60/SF
− Vacancy
−$9.2K −$0.78/SF
EGI
$209.9K $17.82/SF
− OpEx
−$63.0K −$5.35/SF
NOI
$146.9K $12.47/SF
Area
Washington County, NY
Vacancy
4.20%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
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%
$2,938,680
Cap Rate 7%
$2,099,057
Cap Rate 9%
$1,632,600
Alternative Uses
Best Use
Retail
$2.10M
$1.84M – $2.45M
NOI $146,934 @ 7.0% cap · market cap 3.06%
Second Best
Mixed Use
$1.70M
$1.49M – $1.99M
NOI $119,273 @ 7.0% cap · market cap 2.48%
Theoretical Best
Office A
$2.92M
$2.56M – $3.41M
NOI $204,576 @ 7.0% cap · market cap 4.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 12844, NY
303
Population
414
Households
0.7
Avg Household Size
58
Median Age
64%
College-Educated
100%
High-School Grad
3.0 sq mi
ZIP Area
101
Density / Sq Mi
$181,696
Median Household Income
$82,321
Median Earnings
$1,037,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Marina - Multi-parcel marina property with docks, boat services, retail space, storage facilities, and residential improvements.
Where is this marina located?
The property is located at 1881 Pilot Knob Road Fort Ann, NY.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: Four‑parcel marina portfolio with lakefront, storage, retail, and residential improvements; 0.66‑acre lakefront parcel with gas docks, multiple slips, and a boat launch ramp; Heated service shop includes a parts department and office space
