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    Property profile & analytics
    OFF-MARKET Estimated value $760,000
    Motels

    5040 Lk Rd, Dunkirk, NY 14048-9605

    5,603 SF 5.8 ac lot Built 1970
    Entity Owned 15-yr Hold Absentee Owner Free & Clear
    Property ID
    US63-4121512
    Property summary
    AI-generated overview

    This exceptional 10,509 square foot property presents a remarkable investment opportunity on 6.43 acres of land boasting 260 feet of stunning Lake Erie frontage. Ideally situated between Shorewood Country Club and Lakewood Drive in Dunkirk, NY, this unique offering currently comprises a motel with five studio/efficiency units and seven one-bedroom apartments. Adding to its potential, ten cottages are also located on the property, four of which are currently occupied. The existing structures provide immediate income potential, while the expansive acreage and prime lakefront location offer a multitude of development possibilities. Imagine the possibilities for expansion, renovation, or the creation of a completely new venture. This property's versatility makes it suitable for a wide range of commercial uses, from a thriving hospitality business to a unique residential development. The substantial lake frontage provides unparalleled access to recreational activities and breathtaking views. This is a rare chance to acquire a significant piece of Lake Erie waterfront property with proven income streams and immense future potential. Don't miss this chance to bring your vision to life in a highly desirable location. The property is priced at $850,000.

    Property profile
    Verified
    Property type Motels
    Use group MOTEL
    Year built 1970
    Total area 5,603 SF
    Lot 5.8 ac (252,648 SF)
    Zoning code RT
    APN 063400 95.13-2-13
    UPID US63-4121512
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • South Shore Motor Lodge Hotel & Motel Resort
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $775k
    CAP Approach CAP
    $480k
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $760k
    Owner & transaction history
    Noricstar INC · 15 yrs held
    Noricstar INC
    since 2010
    Last sale
    $750,000
    1 recorded transaction
    2010
    $285,000
    Zoning & alternative use
    RT · Dunkirk, NY
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Auto repair, garage $630,000 +117.9%
    Restaurant $570,000 +97.8%
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