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    4938 State Highway 28 Hartwick, NY 13326

    Sponsored
    For Sale
    $975,000

    COMMERCIAL - Hartwick, NY

    Property size:
    4,043 SF
    Lot size:
    2.43 Acres
    Days on Market:
    40
    Last Refresh:
    Jan 28 at 1:06 pm

    Property Features for 4938 State Highway 28

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Sale
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    Restaurant
    APN
    146.00-1-21.37
    Parking
    50
    Parking features
    Driveway, Paved or Surfaced
    Size
    4,043 SF
    Lot size
    2.43 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Propane (Heating), Electric (Heating), Central
    Cooling system
    Central Air
    Water source
    Well

    Building Details

    Year built
    2012
    Floors in Building
    2
    Flooring type
    Concrete
    Roof type
    Metal

    We can help!

    Listing Contact
    Rodger B Moran

    Benson Agency Real Estate LLC (607) 432-4391

    Listing agent Rodger B Moran (607) 432-4391 License #30MO0797197

    Listing date Dec 20, 2025

    MLS# R1655385

    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.

    Learn more

    Property Insight Report

    Overview

    Turn-Key Restaurant Near Cooperstown

    This is a turn-key seasonal restaurant opportunity situated less than one mile from Cooperstown Dreams Park. The property, known as Rusty Bison Restaurant, is designed to accommodate baseball teams and other patrons. The building has 4,043 square feet of space and is located on 2.43 acres. A covered, L-shaped patio measuring 16' x 80' provides an outdoor dining experience. A commercial overhead door automatically opens to integrate the outdoor and indoor spaces. 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. An oversized wrought iron staircase with bamboo flooring leads to over 600 square feet of additional seating or gaming space. The property includes a two-line kitchen. The location is purpose-built for team and group-oriented dining, with the potential to accommodate up to three baseball teams simultaneously. The second-floor loft-style area can be used for private parties, gaming (pool, ping-pong, and darts), or overflow seating. The property is located in Hartwick, NY.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Turn key restaurants

    Suggested Use

    Realty agency Restaurant Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Gym & Fitness Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hartwick
    County
    Otsego
    State
    New York
    Longitude
    -74.957987
    Latitude
    42.663369

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    FAQs

    What type of property is this?
    Restaurant - Seasonal restaurant with strong cash flow near Cooperstown Dreams Park.
    Where is this restaurant located?
    The property is located at 4938 State Highway 28 Hartwick, 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 operation with strong cash flow during a 14-week baseball season.; - Less than 1 mile to Cooperstown Dreams Park.; - Purpose-built for teams and groups, accommodating up to three baseball teams at a time.
    (607) 287-1559
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    4938 State Highway 28 Hartwick, NY 13326
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    Hartwick, NY 13326
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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
    4938 State Highway 28 Hartwick, NY 13326
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    We can help!
    Listing Contact
    Rodger B Moran
    Real Estate License ID: 30MO0797197
    (607) 287-1559
    Learn more
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