Mixed-Use Event Venue
New
For Sale
$300,000
8261 Lake Shore Rd, Angola, NY 14006
Town-approved plans support event, dining, meeting, and short-term lodging uses.
Property Size1,444 SF
Price / SF$75
Days on Market2
Property Features for 8261 Lake Shore Rd
General Information
Standard status
Active
Size
1,444 SF
Total Parking Spaces
21
Property subtype
Commercial
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$8,444
Building Details
Building Size
1,444 SF
Year Built
1960
Buildings
1
Stories
1
Construction
Barndominium
Listing Agency:
M J Peterson Real Estate
(716) 481-6464
Listed By:
John M Fox · License #40FO1013405
(716) 481-6464
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 5:43AM
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 M J Peterson Real Estate
Investment Insights
Based on property information with market context.
This 4,000-square-foot barndominium-style shell is being offered with town-approved plans for a mixed-use event and lodging property. The proposed lower level includes approximately 900 square feet for seating, dining, and a bar; approximately 500 square feet for a commercial kitchen; approximately 600 square feet of office, administrative, and flex space; mechanical and HVAC areas; and 3 full bathrooms.
The planned upper level provides 3 bedrooms, 2 full bathrooms, and a family room or lounge with access to a private second-floor porch. Plans also include a 40x60 outdoor entertainment area, described as tented, along with 21 parking spaces, a play and swing set area, and a storage shed.
The property is located across the street from Lake Erie and Bennett Beach County Park. The approved concept is designed for a 61 to 100 person event, meeting, or wedding venue with an Airbnb-style residential component.
The planned upper level provides 3 bedrooms, 2 full bathrooms, and a family room or lounge with access to a private second-floor porch. Plans also include a 40x60 outdoor entertainment area, described as tented, along with 21 parking spaces, a play and swing set area, and a storage shed.
The property is located across the street from Lake Erie and Bennett Beach County Park. The approved concept is designed for a 61 to 100 person event, meeting, or wedding venue with an Airbnb-style residential component.
Key Highlights
- 4,000 ft barndominium‑style shell with town‑approved mixed‑use plans
- Planned 61 to 100 person event, meeting, or wedding venue
- Approximately 900sqft seating, dining, and bar area
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
$23,095
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
7.70%
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%
$461,900
$461.9K
Cap Rate 7%
$329,929
$329.9K
Cap Rate 9%
$256,611
$256.6K
Market Conditions
NOI Build-Up for 4,000 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
$64.8K $16.20/SF
− Vacancy
−$22.8K −$5.70/SF
EGI
$42.0K $10.50/SF
− OpEx
−$18.9K −$4.72/SF
NOI
$23.1K $5.77/SF
Area
Erie County, NY
Vacancy
35.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$461,900
Cap Rate 7%
$329,929
Cap Rate 9%
$256,611
Alternative Uses
Best Use
Specialty Retail
$688.1K
$602.1K – $802.8K
NOI $48,168 @ 7.0% cap · market cap 16.06%
Second Best
Mixed Use
$536.8K
$469.7K – $626.3K
NOI $37,575 @ 7.0% cap · market cap 12.53%
Theoretical Best
Office A
$874.4K
$765.1K – $1.02M
NOI $61,210 @ 7.0% cap · market cap 20.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Explore this area
Business Placement
Demographics for 14006, NY
9,140
Population
5,012
Households
1.8
Avg Household Size
49
Median Age
25%
College-Educated
93%
High-School Grad
28.1 sq mi
ZIP Area
325
Density / Sq Mi
$62,019
Median Household Income
$45,044
Median Earnings
$956
Median Rent
$154,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Town-approved plans support event, dining, meeting, and short-term lodging uses.
Where is this mixed-use property located?
The property is located at 8261 Lake Shore Rd Angola, NY.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 4,000 ft barndominium‑style shell with town‑approved mixed‑use plans; Planned 61 to 100 person event, meeting, or wedding venue; Approximately 900sqft seating, dining, and bar area
