Restaurant Building with Two-Bedroom
For Sale
$675,000
214 Main Street, Oneonta, NY 13820
COMMERCIAL - Other - Oneonta, NY
Property Size4,305 SF
Lot Size0.05 Acres
Price / SF$156.79
Days on Market36
Property Features for 214 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GBD
Zoning description
Business
Rooms
Basement
Lot features
Irregular Lot
Elementary school district
Oneonta
Middle school district
Oneonta
High school district
Oneonta
Directions
I88 Exit 15 to Main Street (Route 7) traffic circle, to third exit onto Main St heading west, building is on left between Ford and Dietz Streets.
Subdivision
Oneonta-City-361200
Standard status
Active
APN
300.31-1-37.3
Size
4,305 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6469
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard, Forced Air, Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1940
Floors in Building
2
Flooring type
Carpet, Concrete
Building materials
Brick, Frame
Roof type
Flat, Rolled Hot Mop
Architectural style
Other
Listing Agency:
Benson Agency Real Estate LLC
(607) 432-4391
Listed By:
Rodger B Moran · License #30MO0797197
(607) 287-1559
Added: Jul 28
Changed: Aug 4
Last Checked: Sep 1 at 8:06PM
MLS# R1702640
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.
Restaurant building at 214 Main Street in downtown Oneonta, built in 1940, offering a ground-floor restaurant space plus a second-floor apartment. The space includes tile flooring, carpet and concrete flooring, and lots of glass, with French doors opening to outdoor seating directly behind the Al Galladoro performance stage. A natural live-oak wood bar is included. The second floor features a two-bedroom apartment with a modern kitchen/appliance package, plus a bathroom and a half, making it suitable for owner use or additional income.
Construction is brick/frame, with a flat/rolled hot mop roof. Heating includes natural gas baseboard, electric (heating), and forced air, and cooling is provided by central air. The property connects to public sewer and includes basement space.
Zoned GBD, the restaurant is located next to Muller Plaza and near the Al Galladoro performance stage, supporting a high-visibility downtown gathering setting with direct access from the restaurant’s outdoor seating area.
Construction is brick/frame, with a flat/rolled hot mop roof. Heating includes natural gas baseboard, electric (heating), and forced air, and cooling is provided by central air. The property connects to public sewer and includes basement space.
Zoned GBD, the restaurant is located next to Muller Plaza and near the Al Galladoro performance stage, supporting a high-visibility downtown gathering setting with direct access from the restaurant’s outdoor seating area.
Key Highlights
- Zoned GBD restaurant building next to Muller Plaza and the Al Galladoro performance stage
- Outdoor seating directly behind the Galladoro stage with French doors to the restaurant
- Two‑bedroom, bath and a half second‑floor apartment with modern kitchen/appliance package
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
$59,625
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
8.83%
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%
$1,192,500
$1.2M
Cap Rate 7%
$851,786
$851.8K
Cap Rate 9%
$662,500
$662.5K
Market Conditions
NOI Build-Up for 4,305 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
$81.6K $18.96/SF
− Vacancy
−$2.1K −$0.49/SF
EGI
$79.5K $18.47/SF
− OpEx
−$19.9K −$4.62/SF
NOI
$59.6K $13.85/SF
Area
Otsego County, NY
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,192,500
Cap Rate 7%
$851,786
Cap Rate 9%
$662,500
Alternative Uses
Best Use
Specialty Retail
$851.8K
$745.3K – $993.8K
NOI $59,625 @ 7.0% cap · market cap 8.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $83,069 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,123
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13820, NY
21,605
Population
10,083
Households
2.1
Avg Household Size
30
Median Age
40%
College-Educated
91%
High-School Grad
107.3 sq mi
ZIP Area
201
Density / Sq Mi
$66,217
Median Household Income
$26,154
Median Earnings
$983
Median Rent
$176,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Zoned GBD restaurant building with central air, brick construction, and a two-bedroom, bath and a half apartment above.
Where is this conventional restaurant located?
The property is located at 214 Main Street Oneonta, NY.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Zoned GBD restaurant building next to Muller Plaza and the Al Galladoro performance stage; Outdoor seating directly behind the Galladoro stage with French doors to the restaurant; Two‑bedroom, bath and a half second‑floor apartment with modern kitchen/appliance package
