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    248 River Street Oneonta, NY 13820

    View on Map
    For Lease
    $2,500 /Mo

    COMMERCIAL - Oneonta, NY

    Property size:
    2,200 SF
    Lot size:
    1.30 Acres
    Added:
    Jan 27, 2025
    Days on Market:
    429
    Last Refresh:
    Apr 1 at 12:06 pm

    Property Features for 248 River Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    230
    Parking
    20
    Standard status
    Active
    APN
    299.15-1-9.2
    Size
    2,200 SF
    Lot size
    1.30 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    1373

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Hot Water(Heating)
    Water source
    Public

    Building Details

    Year built
    1970
    Floors in Building
    1
    Building materials
    Frame
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Rodger B Moran

    Listing agent Rodger B Moran License #30MO0797197

    Listing office Benson Agency Real Estate LLC One Grand Street, Oneonta, NY

    Listing date Jan 27, 2025

    MLS# R1585574

    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.

    Overview

    Versatile Commercial Space Near All Star Village

    This commercial property, situated on a 1.3-acre lot, offers a versatile venue suitable for various business ventures. The property features 2,200 finished square feet of interior space and 2,500 square feet of decorative outdoor hardscape, including a covered patio, water feature, and concrete pad. Two greenhouses are present, with one currently in operation. The interior includes a greenhouse room suitable for dining or a cafe, along with two additional large rooms that can accommodate dining or retail activities. The layout also supports private room dining. Additional features include a conference room, offices, and a half bath. The property is located minutes from downtown and the All Star Village, making it a destination location. The outdoor area is suitable for outdoor gaming, a fire pit, or a music venue. The existing infrastructure also supports a landscaping or nursery business. The property is zoned 230 and is located in Oneonta, NY.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    New Asbury Gardens Landscaping

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel

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

    Similar Places Nearby

    • Sunrise Specialty Catering — 221 Chestnut St, Oneonta, NY 13820

    Location Insight

    • Map
    • Local Demand
    City
    Oneonta
    County
    Otsego
    State
    New York
    Longitude
    -75.087869
    Latitude
    42.445116

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    FAQs

    What type of property is this?
    Restaurant - Destination location suitable for restaurant, cafe, brewery, or landscaping.
    Where is this restaurant located?
    The property is located at 248 River Street Oneonta, NY.
    What is the lease rate?
    The lease rate is $2,500 /Mo.
    What are key features of this property?
    This property features: Prime "Destination" location ideal for restaurant/cafe/brewery, minutes from downtown and All Star Village.; Turn‑key infrastructure suitable for immediate operation of a restaurant, cafe, brewery, or landscaping/nursery business.; Versatile space with **2,200 finished square feet**, including a greenhouse room, two large dining/retail rooms, private dining setup, conference room, and offices.
    (607) 287-1559
    We can help!
    Listing Contact
    Rodger B Moran
    Real Estate License ID: 30MO0797197
    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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