13-Unit Riverfront
For Sale
$849,900
24 Bethune St, Alexandria Bay, NY 13607
Riverfront lodging property with an office, owner's unit, and boat dockage.
Property Size3,684 SF
Price / SF$230.70
Days on Market50
Property Features for 24 Bethune St
General Information
Standard status
Active
Size
3,684 SF
Additional Details
Business Included
Yes
Utilities to Site
Yes
Amenities
dockage
Building Details
Year Built
1948
Listing Agency:
Lake Ontario Realty, LLC
Listed By:
Amanda J Miller · License #49MI0953024
(315) 778-1191
Source:
Skinnercnyrealty
Added: Sep 7
Changed: Oct 25
Last Checked: Oct 7 at 2:42PM
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
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Investment Insights
Based on property information with market context.
This 13-unit motel sits along the Saint Lawrence River and includes an on-site office and an owner's unit. The property was built in 1948 and includes dockage for up to 15 boats, with several slips rented seasonally. Public utilities serve the property.
The motel is positioned near the town docks and offers views toward Boldt Castle in Alexandria Bay. Its combination of lodging accommodations, management space, residential quarters, and waterfront dockage creates a consolidated hospitality property with multiple existing components.
The motel is positioned near the town docks and offers views toward Boldt Castle in Alexandria Bay. Its combination of lodging accommodations, management space, residential quarters, and waterfront dockage creates a consolidated hospitality property with multiple existing components.
Key Highlights
- 13‑unit motel on the Saint Lawrence River
- Dockage accommodates up to 15 boats
- On‑site office and owner's unit included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,256
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$785,120
$785.1K
Cap Rate 7%
$560,800
$560.8K
Cap Rate 9%
$436,178
$436.2K
Market Conditions
NOI Build-Up for 3,684 SF
Gross rent
$93.3K $25.32/SF
− Vacancy
−$10.6K −$2.89/SF
EGI
$82.6K $22.43/SF
− OpEx
−$43.4K −$11.78/SF
NOI
$39.3K $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%
$785,120
Cap Rate 7%
$560,800
Cap Rate 9%
$436,178
Alternative Uses
Best Use
Hotel Hospitality
$560.8K
$490.7K – $654.3K
NOI $39,256 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$888.6K – $1.18M
NOI $71,086 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13607, NY
1,610
Population
2,079
Households
0.8
Avg Household Size
52
Median Age
34%
College-Educated
96%
High-School Grad
16.3 sq mi
ZIP Area
99
Density / Sq Mi
$58,167
Median Household Income
$45,625
Median Earnings
$649
Median Rent
$168,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Similar Off Market Nearby
- Capt.'s Inn & Suites — 116 Church St, Alexandria Bay, NY 13607
- ABay House — 99 Church St, Alexandria Bay, NY 13607
- Otter Creek Inn — 2 Crossmon St, Alexandria Bay, NY 13607
- Hill's Motor Court & Marina — 24 Bethune St, Alexandria Bay, NY 13607
- Maple Crest Motel — 11 Crossmon St, Alexandria Bay, NY 13607
Frequently Asked Questions
What type of property is this?
Motel - Riverfront lodging property with an office, owner's unit, and boat dockage.
Where is this motel located?
The property is located at 24 Bethune St Alexandria Bay, NY.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 13‑unit motel on the Saint Lawrence River; Dockage accommodates up to 15 boats; On‑site office and owner's unit included
