Furnished Three-Unit
New
For Sale
$1,175,000
8388 Bay Street, Sodus Point, NY 14551
Residential, Sodus Point, NY
Property Size4,300 SF
Lot Size0.75 Acres
Price / SF$273.26
Days on Market3
Property Features for 8388 Bay Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
9
Full bathrooms
6
Half bathrooms
3
Rooms
Bedroom 5, Bathroom 7, Bedroom 1, Bathroom 8, Bathroom 2, Bedroom 2, Bedroom 8, Bathroom 6, Bathroom 9, Bathroom 4, Bedroom 4, Bathroom 5, Bedroom 3, Bedroom 6, Basement, Bedroom 9, Bathroom 1, Bedroom 7, Bathroom 3
Parking features
Garage
Patio and Porch features
Deck
Interior features
NaturalWoodwork
Exterior features
Deck
Accessibility
Accessible Approach with Ramp
Appliances
GasWaterHeater
Lot features
Agricultural, Rectangular, Rectangular Lot
View
Water
Elementary school
Sodus Primary
Middle school
Sodus Middle
High school
Sodus High
Elementary school district
Sodus
Middle school district
Sodus
High school district
Sodus
Subdivision
Sodus Point-Village-544203
Standard status
Active
APN
544203-071-119-0018-316-169-0000
Size
4,300 SF
Lot size
0.75 Acres
Taxes and HOA fees
Tax Annual Amount
9956
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
garage
full basement
private entrances
new grills
remote keyless entry
remote thermostats
water-leak detection with auto shutoff
alarm system
branded marketing materials
Building Details
Year built
2016
Floors in Building
3
Number of units
3
Flooring type
Varies, Hardwood, Laminate, Carpet
Building materials
AluminumSiding, AtticCrawlHatchwaysInsulated, BlownInInsulation, VinylSiding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Cornerstone Realty Associates
Listed By:
Raymond Luke Cino · License #10491201091
(315) 524-7320
Added: Sep 16
Last Checked: Sep 18 at 10:06AM
MLS# R1714737
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.
Built in 2016, this three-unit triplex contains 4,300 square feet arranged as matching up-and-down residences. Each unit is furnished and equipped with linens, kitchenware, décor, and quality finishes, supporting immediate short-term rental use. Private entrances, a garage, and a full basement with egress windows add functional separation and storage. The property also includes central air, forced-air natural gas heat, public water, modern mechanical systems, and a deck.
The 0.75-acre parcel is located at 8388 Bay Street in Sodus Point, New York. Recent operating improvements include remote keyless entry, programmable remote thermostats, water-leak detection with automatic shutoff, an alarm system, new grills, and branded guest materials. The sale includes 123 nights already booked for the 2026 season, along with additional reservations made before closing. The property may also suit long-term leasing or future expansion, subject to approvals.
The 0.75-acre parcel is located at 8388 Bay Street in Sodus Point, New York. Recent operating improvements include remote keyless entry, programmable remote thermostats, water-leak detection with automatic shutoff, an alarm system, new grills, and branded guest materials. The sale includes 123 nights already booked for the 2026 season, along with additional reservations made before closing. The property may also suit long-term leasing or future expansion, subject to approvals.
Key Highlights
- Three‑unit property built in 2016 with 4,300 square feet
- Each residence is furnished and includes private entrance access
- 0.75‑acre parcel with garage and full basement featuring egress windows
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
$36,674
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
3.12%
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%
$733,480
$733.5K
Cap Rate 7%
$523,914
$523.9K
Cap Rate 9%
$407,489
$407.5K
Market Conditions
NOI Build-Up for 4,300 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
$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 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%
$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
NOI $36,674 @ 7.0% cap · market cap 3.12%
Second Best
Apartment 5plus
$462.1K
$404.3K – $539.1K
NOI $32,345 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,084 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
135
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three matching residences offer private entrances, garages, furnished interiors, and short-term rental readiness.
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 $1,175,000.
What are key features of this property?
This property features: Three‑unit property built in 2016 with 4,300 square feet; Each residence is furnished and includes private entrance access; 0.75‑acre parcel with garage and full basement featuring egress windows
