Lakefront Cottage
New
For Sale
$1,395,000
5088 W Lake Road, Mayville, NY 14757
CommercialSale, Mayville, NY
Property Size6,286 SF
Lot Size1.64 Acres
Price / SF$221.92
Days on Market4
Property Features for 5088 W Lake Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R-L
Zoning description
Residential Multi Use
Rooms
Basement
Parking
24
Lot features
Rectangular, Rectangular Lot
View
Water
Elementary school district
Chautauqua Lake
Middle school district
Chautauqua Lake
High school district
Chautauqua Lake
Subdivision
Chautauqua-062889
Standard status
Active
APN
062889-280-013-0001-006-000
Size
6,286 SF
Lot size
1.64 Acres
Taxes and HOA fees
Tax Annual Amount
12332
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Central, Electric (Heating), Forced Air, Natural Gas
Cooling system
Central Air
Water front features
Beach Access, Lake
Water front
1
Amenities
office building
guest laundry facilities
separate housekeeping laundry
recreation areas
direct lake access
private 17-slip dock
expanded parking
upgraded Wi-Fi
keyless entry
Building Details
Year built
1938
Floors in Building
2
Roof type
Shingle
Listing Agency:
Howard Hanna Holt - Mayville
(716) 753-7880
Listed By:
Brandi Russo · License #10401282195
(702) 592-7263
Added: Oct 12
Changed: Oct 13
Last Checked: Oct 15 at 1:06PM
MLS# R1721617
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.
Investment Insights
Based on property information with market context.
This operating vacation-rental property on Chautauqua Lake comprises 11 accommodations across two year-round homes and nine seasonal cottages. The offering totals 29 bedrooms and 14 full bathrooms, with approximately 211 feet of lake frontage and a private dock with 17 slips. The property also includes an office, guest laundry, a separate housekeeping laundry area, recreation spaces, and direct lake access. Improvements made from 2024 through 2026 include interior and exterior updates, landscaping, additional parking, upgraded Wi-Fi, and keyless entry.
Furnishings, equipment, booking and management systems, and local service-provider relationships are included. Chautauqua Institution is approximately one mile away, and Mayville is nearby. The business has operated for more than 30 years and has returning guests.
Furnishings, equipment, booking and management systems, and local service-provider relationships are included. Chautauqua Institution is approximately one mile away, and Mayville is nearby. The business has operated for more than 30 years and has returning guests.
Key Highlights
- 11 rental accommodations: two year‑round homes and nine seasonal cottages
- 29 bedrooms and 14 full bathrooms
- Approximately 211 feet of frontage on Chautauqua Lake
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,590
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$951,800
$951.8K
Cap Rate 7%
$679,857
$679.9K
Cap Rate 9%
$528,778
$528.8K
Market Conditions
NOI Build-Up for 6,286 SF
Gross rent
$99.6K $15.84/SF
− Vacancy
−$13.0K −$2.08/SF
EGI
$86.5K $13.76/SF
− OpEx
−$38.9K −$6.19/SF
NOI
$47.6K $7.57/SF
Area
Chautauqua County, NY
Vacancy
13.10%
Lease Rate
$15.84 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$951,800
Cap Rate 7%
$679,857
Cap Rate 9%
$528,778
Alternative Uses
Best Use
Apartment 5plus
$679.9K
$594.9K – $793.2K
NOI $47,590 @ 7.0% cap · market cap 3.41%
Second Best
Hotel Hospitality
$498.2K
$435.9K – $581.2K
NOI $34,873 @ 7.0% cap · market cap 2.50%
Theoretical Best
Office A
$1.88M
$1.65M – $2.20M
NOI $131,704 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
11
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
Explore this area
Business Placement
Demographics for 14757, NY
3,072
Population
2,181
Households
1.4
Avg Household Size
47
Median Age
37%
College-Educated
93%
High-School Grad
43.7 sq mi
ZIP Area
70
Density / Sq Mi
$63,542
Median Household Income
$40,042
Median Earnings
$677
Median Rent
$179,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Resort - Eleven furnished rental accommodations comprise two year-round homes and nine seasonal cottages.
Where is this resort located?
The property is located at 5088 W Lake Road Mayville, NY.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 11 rental accommodations: two year‑round homes and nine seasonal cottages; 29 bedrooms and 14 full bathrooms; Approximately 211 feet of frontage on Chautauqua Lake
