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    1273 State Hwy 26 South Otselic, NY 13155

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    For Sale
    $99,900

    Farm/Estate - South Otselic, NY

    Type:Farm
    Property size:
    15,000 SF
    Lot size:
    20.24 Acres
    Added:
    Sep 15, 2025
    Days on Market:
    217
    Last Refresh:
    Apr 19 at 2:06 pm

    Property Features for 1273 State Hwy 26

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Zoning
    100
    Parking features
    Garage
    Standard status
    Active
    APN
    085000-078.000-0002-020.100
    Size
    15,000 SF
    Lot size
    20.24 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3288

    Utilities

    Water front features
    Wfriver, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Josh Buell

    Listing agent Josh Buell

    Listing office WHITETAIL PROPERTIES REAL ESTATE LLC (NY) 121 SOUTH MADISON ST, PITTSFIELD, NY

    Listing date Sep 15, 2025

    MLS# 11574665 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    20-Acre Farm/Estate with Structures

    This 20.24-acre lot is located on the edge of the Otselic River. The property features two large structures. The first is an old dairy barn, a pole barn structure with approximately 15,000 sqft of potential, suitable for farm use, storage, or warehouse purposes. It has a concrete floor in good condition and high ceilings suitable for boats and RVs. The second building measures roughly 32x75 and features large open bays, previously used for machinery and a repair shop with a lift. The property has a well and power. There is a septic system on the property, but this is not guaranteed. Five acres are part of the CRP program and are planted with walnut trees. Pitcher Springs State Forest, consisting of 1,835 acres, is nearby. The Otselic River, a registered trout river, is stocked annually with over 16,000 brown trout, in addition to wild brown and brook trout, and is located just minutes away. Amenities are readily available in South Otselic and Cincinnatus, within 10 minutes. Additional shopping, restaurants, and entertainment are available within 25 miles in Cortland or less than an hour to Binghamton. The property is 3.5 hours from NYC/George Washington Bridge.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Auto Parts Store Department Store Discount Store (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    South Otselic
    County
    Chenango
    State
    New York
    Longitude
    -75.804683
    Latitude
    42.631281

    FAQs

    What type of property is this?
    Farm - 20-acre lot with structures near Otselic River.
    Where is this farm located?
    The property is located at 1273 State Hwy 26 South Otselic, NY.
    What is the asking price?
    The asking price for this property is $99,900.
    What are key features of this property?
    This property features: 20‑acre lot with Otselic River frontage, a registered trout river stocked annually.; Two large existing structures: **15,000 sqft pole barn with concrete floor and high ceilings**, and a 32x75 building previously used as a machinery repair shop with lift.; Well and power are already on the property.
    (607) 220-6247
    We can help!
    Listing Contact
    Josh Buell
    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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