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    9170 Horseshoe Island Rd Clay, NY 13041

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    For Sale
    $1,400,000

    Operating marina with 100 docks, restaurant, and apartment.

    Lot size:
    6.30 Acres
    Added:
    Jul 3, 2025
    Days on Market:
    273
    Last Refresh:
    Mar 25 at 8:54 pm

    Property Features for 9170 Horseshoe Island Rd

    General Information

    Standard status
    Active
    Lot size
    6.30 Acres

    We can help!

    Listing Contact
    Kurt Wossner

    Listing agent Kurt Wossner

    Listing office World United Realty Inc.

    Listing date Jul 3, 2025

    Source Exprealty

    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 World United Realty Inc.

    Overview

    Established Marina with Restaurant

    Pirates Cove Marina is a fully operational establishment located along the Oneida River. The marina features dockage for 100 boats and four full-service campsites. An office building includes retail space, service areas, public restrooms and showers, laundry facilities, and a three-bedroom apartment. The property also includes an 80-seat restaurant with a party deck, an inground pool, picnic and play areas, and four metal boat storage buildings. Additional amenities include a launch ramp, a 25-ton Marine Travel Lift, a 12,000-gallon above-ground fuel tank, 50 parking spaces, outside storage, and a parking area for trailers. Situated at the geographic center of New York State waterways, the Oneida River provides boaters with access to Lake Ontario, Oneida Lake, and other major waterways. The marina is utilized by boaters from various locations, including Australia and New Zealand.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Docks Grill At Pirates ... Bar & Pub Pirates Cove Marina Marina

    Suggested Use

    Restaurant Law Firm Storage Facility Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Clay
    County
    Onondaga
    State
    New York
    Longitude
    -76.2459
    Latitude
    43.2142

    Nearby Similar for Sale

    • $995,000
      3,473 SF

      Retail Building Near Micron Plant

      Retail service building with shop/storage on a large fenced lot.
      5280 Caughdenoy Rd, Clay, NY
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    • $475,000
      2,606 SF

      Uncle Chubbys Bar & Pizzeria

      Sports bar and pizzeria near Micron plant in Clay, NY.
      5282 Caughdenoy Rd, Clay, NY 13041
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    FAQs

    What type of property is this?
    Marina - Operating marina with 100 docks, restaurant, and apartment.
    Where is this marina located?
    The property is located at 9170 Horseshoe Island Rd Clay, NY.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Fully operational marina with 100 boat dockage and established business.; Prime location at the geographic center of NYS waterways, providing access to major lakes and waterways.; Enjoy on‑site amenities including an 80‑seat restaurant, inground pool, campsites, and picnic/play areas.
    (315) 699-2676
    We can help!
    Listing Contact
    Kurt Wossner
    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.

    More about this property
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