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    Turn-Key Restaurant Near Cooperstown Title is generated by Realmo AI

    4938 St Hwy 28, Cooperstown, NY 13326

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    For Sale
    $975,000

    Commercial - Cooperstown, NY

    Property size:
    4,043 SF
    Lot size:
    2.43 Acres
    Price / SF:
    $241/SF
    Added:
    Dec 19, 2025
    Days on Market:
    142
    Last Refresh:
    May 10 at 8:06 am

    Property Features for 4938 St Hwy 28

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Garage
    Standard status
    Active
    APN
    363200-146.000-0001-021.037
    Size
    4,043 SF
    Lot size
    2.43 Acres

    Taxes and HOA fees

    Tax Annual Amount
    9976

    Utilities

    Heating system
    Electric (Heating), Forced Air, Propane (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1990
    Year renovated
    1990
    Architectural style
    Other

    We can help!

    Listing Contact
    Rodger B Moran

    Listing agent Rodger B Moran

    Listing office BENSON AGENCY REAL ESTATE LLC 1 GRAND ST, ONEONTA, NY

    Listing date Dec 19, 2025

    MLS# 11629281 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.

    HighLights

    • Turn‑key seasonal restaurant with strong cash flow during a 14‑week baseball season.
    • Purpose‑built for team and group dining, accommodating up to three baseball teams.
    • Less than 1 mile to Cooperstown Dreams Park.
    • Enjoy the large 16'x80' covered outdoor patio with commercial overhead door for indoor/outdoor dining.
    • Second‑floor loft area (over 600 sqft) for private parties, gaming, or overflow seating.
    • Rustic interior with exposed beams, vaulted ceiling, and a 30' bar.

    Overview

    This turn-key restaurant presents a significant opportunity for entrepreneurs. The property is designed to accommodate teams and groups, particularly during the 14-week summer baseball season, offering the potential for substantial profits. The operation can remain seasonal or be extended as desired. A notable feature is the expansive 16' x 80' L-shaped covered outdoor patio, creating an open-air dining experience. A commercial overhead door automatically opens, merging the indoor and outdoor spaces when weather permits. The restaurant also includes a second-floor loft-style area suitable for private parties or gaming, with space for pool, ping-pong, and darts, or additional seating. Inside, the restaurant features exposed beams, a vaulted ceiling, and a rustic-style 30' wind-around bar with a hostess station that can serve as a secondary bar or overflow area. A wrought iron staircase with bamboo flooring leads to over 600 square feet of additional seating or gaming space. The property includes a spotless two-line kitchen. The restaurant is situated less than one mile from Cooperstown Dreams Park. The building size is 4,043 square feet and the lot size is 2.43 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Turn key restaurants

    Map

    City
    Cooperstown
    County
    Otsego
    State
    New York
    Longitude
    -74.958003
    Latitude
    42.663357

    FAQs

    What type of property is this?
    Restaurant - Seasonal restaurant with outdoor patio near Cooperstown Dreams Park.
    Where is this restaurant located?
    The property is located at 4938 St Hwy 28 Cooperstown, NY.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: Turn‑key seasonal restaurant with strong cash flow during a 14‑week baseball season.; Purpose‑built for team and group dining, accommodating up to three baseball teams.; Less than 1 mile to Cooperstown Dreams Park.
    (607) 432-4391
    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.

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