Building Details

Building Size 8,555 SF

Year Built 1890

Stories 3

Listing Agency: Garlock Realty

Listed By: Cathy F Garlock · License #40GA0888002 Show Phone

Source: Elliman

Added: Nov 27, 2025 Changed: Oct 15 Last Checked: Oct 16 at 9:16AM

Report an Issue

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 Garlock Realty

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

The Historic Hart House, currently operating as a bed and breakfast, is located on Wellesley Island. The property features 10 guest rooms, each with private baths and fireplaces. A family suite is also included. The property has a remodeled family room with wood beam ceilings and moldings, a commercial kitchen, and a dining area that seats 60. The dining area overlooks the golf course. The property is suitable for weddings, receptions, and summer retreats. The property offers views of the River and the Thousand Island Golf course. Marinas are located within walking distance.

Key Highlights

• 10 guest rooms with private baths and fireplaces, ideal for bed & breakfast or retreat.
• Commercial kitchen and dining area seating 60, suitable for events.
• Located on Wellesley Island with views of the River and Thousand Island Golf Course.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$91,161

Cap Rate

8.68%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,823,220 $1.8M

Cap Rate 7%

$1,302,300 $1.3M

Cap Rate 9%

$1,012,900 $1.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,555 SF

Gross rent

$216.6K $25.32/SF

− Vacancy

−$24.7K −$2.89/SF

EGI

$191.9K $22.43/SF

− OpEx

−$100.8K −$11.78/SF

NOI

$91.2K $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 Rate 5%

$1,823,220

Cap Rate 7%

$1,302,300

Cap Rate 9%

$1,012,900

Alternative Uses

Best Use

Hotel Hospitality

$1.30M

$1.14M – $1.52M (±1% cap)

NOI $91,161 @ 7.0% cap · market cap 8.68%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.36M

$2.06M – $2.75M (±1% cap)

NOI $165,077 @ 7.0% cap · market cap 15.72%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Bed & breakfasts

Suggested Use

Top Pick Building Supply Storage Facility Parking Lot & Garage Skin Care Clinic Grocery & Convenience Store Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

43

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 13640, NY

348

Population

810

Households

0.4

Avg Household Size

62

Median Age

59%

College-Educated

100%

High-School Grad

12.3 sq mi

ZIP Area

28

Density / Sq Mi

$92,422

Median Household Income

$62,159

Median Earnings

$330,500

Median Home Value

Frequently Asked Questions

What type of property is this?

Bed & breakfast - Serene Wellesley Island property ideal for weddings and retreats.

Where is this bed & breakfast located?

The property is located at 21979 Club Rd Alexandria, NY.

What is the asking price?

The asking price for this property is $1,050,000.

What are key features of this property?

This property features: 10 guest rooms with private baths and fireplaces, ideal for bed & breakfast or retreat.; Commercial kitchen and dining area seating 60, suitable for events.; Located on Wellesley Island with views of the River and Thousand Island Golf Course.