Building Details

Year Built 1890

Listing Agency: Lake Ontario Realty, LLC l***@yahoo.com Show Phone

Listed By: Amanda Miller · License #49MI0953024 Show Phone

Source: Xome

Added: Jun 13 Changed: Aug 28 Last Checked: Aug 23 at 2:26AM

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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 Lake Ontario Realty, LLC

Investment Insights

Based on property information with market context.

This lakeside hospitality property combines a bar and restaurant with motel rooms, a trailer park campground, a rental house, and two year-round Airbnb accommodations. The former Grange Hall was renovated into the Airbnb units, while the motel rooms and rental house received exterior and porch updates. Additional improvements include a gazebo, shoreline work, and docks.

The property encompasses over 95 acres with approximately 400 feet of lakefront at 18835 S Shore Road in Lyme, New York. Its varied accommodations and commercial components create a single-site operating platform with substantial land surrounding the existing improvements.

Key Highlights

• Over 95 acres with approximately 400 feet of lakefront
• Bar and restaurant component included
• Motel rooms, rental house, and trailer park campground on site

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

$111,759

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

3.86%

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%

$2,235,180 $2.2M

Cap Rate 7%

$1,596,557 $1.6M

Cap Rate 9%

$1,241,767 $1.2M

Market Conditions

NOI Build-Up for 10,488 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

$265.6K $25.32/SF

− Vacancy

−$30.3K −$2.89/SF

EGI

$235.3K $22.43/SF

− OpEx

−$123.5K −$11.78/SF

NOI

$111.8K $10.66/SF

Area

Jefferson County, NY

Vacancy

11.40%

Lease Rate

$25.32 /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%

$2,235,180

Cap Rate 7%

$1,596,557

Cap Rate 9%

$1,241,767

Alternative Uses

Best Use

Hotel Hospitality

$1.60M

$1.40M – $1.86M (±1% cap)

NOI $111,759 @ 7.0% cap · market cap 3.86%

Second Best

Specialty Retail

$1.54M

$1.35M – $1.79M (±1% cap)

NOI $107,609 @ 7.0% cap · market cap 3.71%

Theoretical Best

Office A

$2.89M

$2.53M – $3.37M (±1% cap)

NOI $202,376 @ 7.0% cap · market cap 6.98%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Bars & Pubs

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

5

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 13693, NY

495

Population

1,019

Households

0.5

Avg Household Size

58

Median Age

39%

College-Educated

100%

High-School Grad

20.6 sq mi

ZIP Area

24

Density / Sq Mi

$44,375

Median Household Income

$38,750

Median Earnings

$212,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this bars & pubs 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?

Bar & Pub - Includes a restaurant, motel rooms, rental accommodations, and campground uses across an expansive waterfront holding.

Where is this bar & pub located?

The property is located at 18835 SHORE RD Three Mile Bay, NY.

What is the asking price?

The asking price for this property is $2,899,000.

What are key features of this property?

This property features: Over 95 acres with approximately 400 feet of lakefront; Bar and restaurant component included; Motel rooms, rental house, and trailer park campground on site