Building Details

Building Size 4,300 SF

Year Built 2016

Stories 3

Units 3

Listing Agency: Cornerstone Realty Associates

Listed By: Raymond Luke Cino · License #10491201091 Show Phone

Source: Franzese-realestate

Added: Sep 16 Changed: Oct 24 Last Checked: Oct 23 at 3:13PM

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 Cornerstone Realty Associates

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.

Built in 2016, this 4,300-square-foot triplex contains three matching, vertically arranged units with separate entrances. The units are furnished and stocked with linens, décor, and kitchenware. Building features include a garage, a full basement with egress windows, and modern mechanical systems. Guest-focused equipment includes grills, remote-entry locks, thermostat controls, water-leak sensors with automatic shutoff, and an alarm system. Branded promotional items are also included.

The property occupies 0.75 acres at 8388 Bay Street in Sodus Point, New York. The parcel has room for potential expansion; adding another unit would require approvals. The property has a Google Business profile with 5-star reviews. Its existing configuration and furnishings support short-term rental use, while the source information also identifies long-term leasing as an option.

Key Highlights

• Three‑unit triplex built in 2016
• 4,300 sq ft building on 0.75 acres
• Private entrances and matching up‑and‑down unit layouts

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,674

Cap Rate

4.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$733,480 $733.5K

Cap Rate 7%

$523,914 $523.9K

Cap Rate 9%

$407,489 $407.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,300 SF

Gross rent

$59.3K $13.80/SF

− Vacancy

−$6.9K −$1.62/SF

EGI

$52.4K $12.18/SF

− OpEx

−$15.7K −$3.66/SF

NOI

$36.7K $8.53/SF

Area

Wayne County, NY

Vacancy

11.71%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$733,480

Cap Rate 7%

$523,914

Cap Rate 9%

$407,489

Alternative Uses

Best Use

Multifamily LT 5

$523.9K

$458.4K – $611.2K (±1% cap)

NOI $36,674 @ 7.0% cap · market cap 4.08%

Second Best

Apartment 5plus

$462.1K

$404.3K – $539.1K (±1% cap)

NOI $32,345 @ 7.0% cap · market cap 3.59%

Theoretical Best

Office A

$1.16M

$1.01M – $1.35M (±1% cap)

NOI $81,084 @ 7.0% cap · market cap 9.01%

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

Property Analytics

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

120

Businesses Nearby

Explore this area Business Placement

Demographics for 14551, NY

5,163

Population

2,673

Households

1.9

Avg Household Size

45

Median Age

16%

College-Educated

89%

High-School Grad

43.7 sq mi

ZIP Area

118

Density / Sq Mi

$53,462

Median Household Income

$41,177

Median Earnings

$845

Median Rent

$123,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Triplex - Three private-entry units include furnishings, kitchenware, linens, and guest-oriented technology.

Where is this triplex located?

The property is located at 8388 Bay Street Sodus Point, NY.

What is the asking price?

The asking price for this property is $899,900.

What are key features of this property?

This property features: Three‑unit triplex built in 2016; 4,300 sq ft building on 0.75 acres; Private entrances and matching up‑and‑down unit layouts