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    OFF-MARKET
    Commercial land

    74 Water St, Mayville, NY 14757-1323

    2,688 SF 1.2 ac lot Built 1960
    Entity Owned 2-yr Hold Free & Clear
    Property ID
    US63-2748868
    Property summary
    AI-generated overview

    This exceptional 1.2-acre commercial land parcel presents a remarkable development opportunity on Chautauqua Lake's north basin in Mayville, New York. Priced at $995,000, this property boasts a prime waterfront location with Lakeside Business Zoning and Overlay District designations. Its strategic position offers easy access to major transportation arteries, including Interstates 90 and 86 (approximately 8 miles away) and is conveniently located just 11 miles from Bemus Point. The site's proximity to the renowned Chautauqua Institution, a nationally recognized educational center and resort spanning over 2,000 acres, adds significant value and potential for synergy. The property's versatility allows for a range of development options, including commercial ventures, multi-family residential housing, mixed-use buildings, or a waterfront restaurant and/or hotel. Further enhancing its appeal, there's a possibility of acquiring additional adjacent land in the future. This presents a unique chance to capitalize on the area's thriving tourism and recreational activities, while benefiting from its central location between Buffalo, Cleveland, and Pittsburgh. The property's address is 74 Water Street, Mayville, NY 14757. This is a truly exceptional opportunity for investors and developers seeking a high-potential waterfront investment in a desirable location.

    Property profile
    Verified
    Property type Commercial land
    Use group VACANT COMMERCIAL LAND
    Year built 1960
    Total area 2,688 SF
    Lot 1.2 ac (52,272 SF)
    Zoning code 05 - COMMERCIAL
    APN 062801 262.16-2-7
    UPID US63-2748868
    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
    • The Lodge at Chautauqua Lake Hotel & Motel Resort
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Erie Bank · 2 yrs held
    Erie Bank
    since 2023
    2 recorded transactions
    2023
    $581,715
    2021
    Zoning & alternative use
    05 - COMMERCIAL · Mayville, NY
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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