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    6367 State Highway7 Milford, NY 12116

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    Claim this Listing
    New
    For Sale
    $130,000

    Commercial Building - Milford, NY

    Property size:
    2,000 SF
    Lot size:
    4.87 Acres
    Added:
    Apr 16, 2026
    Days on Market:
    3
    Last Refresh:
    Apr 18 at 2:06 am

    Property Features for 6367 State Highway7

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    200
    Rooms
    Basement, Kitchen
    Parking features
    Garage
    Basement Y/N
    1
    Standard status
    Active
    APN
    277.00-1-23.00
    Size
    2,000 SF
    Lot size
    4.87 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Heating system
    Forced Air, Oil

    Building Details

    Year built
    1876
    Year renovated
    1876
    Floors in Building
    1
    Roof type
    Slate, Tile
    Architectural style
    Other

    We can help!

    Listing Contact
    Mary Rab
    Mary Rab

    Listing agent Mary Rab

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

    Listing date Apr 16, 2026

    MLS# 11693414 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

    Historic Church on Route 7

    This historic church, constructed in 1876 in Cooperstown Junction, presents an opportunity to repurpose the building. Situated on the Route 7 corridor, the property benefits from high visibility and is a short drive from Goodyear Lake, Oneonta, and Cooperstown. The building showcases classic architectural elements, including tall stained glass windows and wooden benches. The open interior space provides a flexible layout suitable for various uses. The property includes three lots totaling approximately 4.87 acres, with a large barn located towards the rear. The barn roof was replaced approximately 6-8 years ago. The property features a large kitchen, and while there is no well, a septic system is believed to be located on the front of the property. An out-of-use buried oil tank is present at the rear, with the current oil tank being above ground. The square footage is estimated. The property is being sold in its current condition. It is located in Milford, NY.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Churches & religious facilities

    Map

    City
    Milford
    County
    Otsego
    State
    New York
    Longitude
    -74.8983
    Latitude
    42.5423

    Nearby Similar for Sale

    • $130,000
      2,000 SF

      Historic Church on Route 7

      Repurpose opportunity on high-visibility Route 7 corridor near Cooperstown.
      6367 State Highway 7, Milford, NY 12116
      View Details
    • $675,000
      9,400 SF

      Former Cheese Processing Facility

      9,400 SF facility with retail and manufacturing/warehousing space.
      3941 NY-28, Milford, NY
      View Details

    FAQs

    What type of property is this?
    Church & religious facility - Unique property with architectural elements, flexible layout, and high visibility.
    Where is this church & religious facility located?
    The property is located at 6367 State Highway7 Milford, NY.
    What is the asking price?
    The asking price for this property is $130,000.
    What are key features of this property?
    This property features: Historic church built in 1876 with **unique architectural elements** (stained glass windows, wooden benches).; High‑visibility location on Route 7, convenient to Goodyear Lake, Oneonta, and Cooperstown.; Large barn on the property with a roof replaced approximately 6‑8 years ago.
    (607) 432-4391
    We can help!
    Listing Contact
    Mary Rab
    Mary Rab
    Real Estate License ID: 30RA0875441
    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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