Listing Agency: Pavia Real Estate Services Show Phone

Listed By: Kevin Valenti · License #3321260 Show Phone

Source: Moodyscre

Added: Jan 16, 2025 Changed: Oct 11 Last Checked: Oct 19 at 7:11AM

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This offering presents the opportunity to purchase Munson’s Building Supplies, a longstanding lumber yard and hardware store located in Oneonta, New York. The property includes a 28,056-square-foot main building, six pole barns totaling approximately 8,704 square feet, and approximately 5,220 square feet of covered storage. Situated on approximately 4.27 acres directly off I-88 Exit 16, the sale encompasses the real estate, business, FF&E (furniture, fixtures, and equipment), and inventory.

Key Highlights

• Established lumber yard and hardware store business included in sale.
• Includes real estate, business, FF&E, and inventory.
• Large 28,056 SF main building with additional storage.**

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$396,869

Cap Rate

7.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$7,937,380 $7.9M

Cap Rate 7%

$5,669,557 $5.7M

Cap Rate 9%

$4,409,656 $4.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 41,098 SF

Gross rent

$591.8K $14.40/SF

− Vacancy

−$24.9K −$0.60/SF

EGI

$567.0K $13.80/SF

− OpEx

−$170.1K −$4.14/SF

NOI

$396.9K $9.66/SF

Area

Otsego County, NY

Vacancy

4.20%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$7,937,380

Cap Rate 7%

$5,669,557

Cap Rate 9%

$4,409,656

Alternative Uses

Best Use

Warehouse

$7.15M

$6.26M – $8.34M (±1% cap)

NOI $500,420 @ 7.0% cap · market cap 10.01%

Second Best

Retail

$5.67M

$4.96M – $6.61M (±1% cap)

NOI $396,869 @ 7.0% cap · market cap 7.94%

Theoretical Best

Office A

$11.33M

$9.91M – $13.22M (±1% cap)

NOI $793,027 @ 7.0% cap · market cap 15.86%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Location Intelligence

Trade Area within ½ mile

21

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Frequently Asked Questions

What type of property is this?

Storefront property - Established lumber yard and hardware store for sale in Oneonta.

Where is this storefront property located?

The property is located at 5662 NY-7 Milford Center, NY.

What is the asking price?

The asking price for this property is $4,999,999.

What are key features of this property?

This property features: Established lumber yard and hardware store business included in sale.; Includes real estate, business, FF&E, and inventory.; Large 28,056 SF main building with additional storage.**