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    Riverfront Motel in Alexandria Bay Title is generated by Realmo AI

    24 Bethune Street, Alexandria Bay, NY 13607

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    Claim this Listing
    For Sale
    $865,000

    COMMERCIAL - Alexandria Bay, NY

    Property size:
    3,684 SF
    Lot size:
    0.56 Acres
    Price / SF:
    $234/SF
    Added:
    Jun 24, 2025
    Days on Market:
    325
    Last Refresh:
    May 14 at 9:06 am

    Property Features for 24 Bethune Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    MD
    Parking
    20
    Parking features
    Paved or Surfaced
    Standard status
    Active
    APN
    222201-007-029-0001-050-000
    Size
    3,684 SF
    Lot size
    0.56 Acres

    Taxes and HOA fees

    Tax Annual Amount
    12454

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Baseboard
    Water source
    Public
    Water front features
    Stream, River Access
    Water front
    1

    Building Details

    Year built
    1948
    Floors in Building
    1
    Roof type
    Asphalt, Metal

    We can help!

    Listing Contact
    Amanda J Miller
    Amanda J Miller

    Listing agent Amanda J Miller License #49MI0953024

    Listing office Lake Ontario Realty, LLC 12396 NYS Route 12E, Chaumont, NY

    Listing date Jun 24, 2025

    MLS# S1617637

    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

    • Turnkey 13‑unit riverfront motel in Alexandria Bay.
    • Prime location with views of Boldt Castle, close to town docks, and walking distance to amenities.
    • Includes owner's unit, office, and dockage for up to 15 boats.
    • Potential for additional income through seasonal slip rentals and Airbnb.
    • Well‑maintained business with recent updates.
    • All public utilities.

    Overview

    This is a 13-unit riverfront motel located in the heart of Alexandria Bay. The property includes an office, an owner's unit, and dockage accommodating up to 15 boats. Some boat slips are rented as seasonal slips. The property's location overlooks Boldt Castle and is close to town docks, within walking distance to everything. The motel has been a well-run business for many years and has undergone many updates in recent years. The property is situated on a 0.5572-acre lot. The building has a size of 3684 square feet. All public utilities are available. The property could also serve as a summer compound for friends and family. Boaters could keep their boat there in the summer and Airbnb units for income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hill's Motor Court ... Hotel & Motel

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Building Supply Gym & Fitness Center Skin Care Clinic Pharmacy

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

    Similar Places Nearby

    • Otter Creek Inn — 2 Crossmon St, Alexandria Bay, NY 13607
    • Capt.'s Inn & Suites — 116 Church St, Alexandria Bay, NY 13607
    • Maple Crest Motel — 11 Crossmon St, Alexandria Bay, NY 13607
    • ABay House — 99 Church St, Alexandria Bay, NY 13607
    • Hill's Motor Court & Marina — 24 Bethune St, Alexandria Bay, NY 13607

    Location Insight

    • Map
    • Local Demand
    City
    Alexandria Bay
    County
    Jefferson
    State
    New York
    Longitude
    -75.919967
    Latitude
    44.334747

    Nearby Similar for Sale

    • $3,900,000
      8,800 SF

      Waterfront Marina with Income Potential

      Prime waterfront marina with multi-family units and owner's residence.
      16 Bethune Street, Alexandria Bay, NY 13607
      View Details
    • $425,000

      Turn-Key Restaurant in 1000 Islands

      Restaurant opportunity in the heart of the 1000 Islands.
      43641 State Route 12, Alexandria Bay, NY, 13607-2128
      View Details

    FAQs

    What type of property is this?
    Motel - Turnkey 13-unit motel with dockage in the heart of Alexandria Bay.
    Where is this motel located?
    The property is located at 24 Bethune Street Alexandria Bay, NY.
    What is the asking price?
    The asking price for this property is $865,000.
    What are key features of this property?
    This property features: Turnkey 13‑unit riverfront motel in Alexandria Bay.; **Prime location with views of Boldt Castle**, close to town docks, and walking distance to amenities.; Includes owner's unit, office, and dockage for up to 15 boats.
    (315) 649-3434
    We can help!
    Listing Contact
    Amanda J Miller
    Amanda J Miller
    Real Estate License ID: 49MI0953024
    Learn More
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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.

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