Historic Oneonta Train Station
For Sale
$1,400,000
58-60 Market St, Oneonta, NY 13820
8,000 sq ft mixed-use property in vibrant college town.
Property Size8,000 SF
Lot Size0.41 Acres
Price / SF$175
Days on Market157
Property Features for 58-60 Market St
General Information
Standard status
Active
Size
8,000 SF
Lot size
0.41 Acres
Property subtype
Commercial
Building Details
Year Built
1862
Listing Agency:
(888) 276-0630
Listed By:
Kelly Suzanne Hall · License #287975
(888) 276-0630
Source:
Elliman
Added: Mar 10
Changed: Jul 6
Last Checked: Aug 12 at 9:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kelly Suzanne Hall
Investment Insights
Based on property information with market context.
Located in historic Oneonta, New York, the property at 58-60 Market Street offers an investment opportunity. Formerly Oneonta's train station from 1892, this 8,000 sq ft property is suitable for an upscale residence or a commercial enterprise. The location is strategically positioned to serve neighboring educational institutions and businesses, such as The Foothills Performing Arts & Civic Center. The property is suited for commercial ventures, including a full-service kitchen. Boutique shops, restaurants, or professional offices could occupy the ground floor, attracting locals and college students. The property features a new roof, meticulous basement, bar, radiant heating, and five new HVAC units. Ample parking is available for customers. The property could be transformed into a luxurious urban residence, offering downtown living and convenience. There are three separate heating systems throughout the property.
Key Highlights
- Historic 8,000 sq ft former train station (built in 1862) in downtown Oneonta.
- Prime location next to The Foothills Performing Arts & Civic Center.
- Turnkey condition with a brand new roof, meticulous basement, bar, radiant heating, and 5 new HVACs.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$110,802
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,216,040
$2.2M
Cap Rate 7%
$1,582,886
$1.6M
Cap Rate 9%
$1,231,133
$1.2M
Market Conditions
NOI Build-Up for 8,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$151.7K $18.96/SF
− Vacancy
−$3.9K −$0.49/SF
EGI
$147.7K $18.47/SF
− OpEx
−$36.9K −$4.62/SF
NOI
$110.8K $13.85/SF
Area
Otsego County, NY
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,216,040
Cap Rate 7%
$1,582,886
Cap Rate 9%
$1,231,133
Alternative Uses
Best Use
Specialty Retail
$1.58M
$1.39M – $1.85M
NOI $110,802 @ 7.0% cap · market cap 7.91%
Second Best
Mixed Use
$980.6K
$858.0K – $1.14M
NOI $68,640 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$2.21M
$1.93M – $2.57M
NOI $154,368 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,129
Businesses Nearby
Explore this area
Business Placement
Demographics for 13820, NY
21,605
Population
10,083
Households
2.1
Avg Household Size
30
Median Age
40%
College-Educated
91%
High-School Grad
107.3 sq mi
ZIP Area
201
Density / Sq Mi
$66,217
Median Household Income
$26,154
Median Earnings
$983
Median Rent
$176,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 8,000 sq ft mixed-use property in vibrant college town.
Where is this mixed-use property located?
The property is located at 58-60 Market St Oneonta, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Historic 8,000 sq ft former train station (built in 1862) in downtown Oneonta.; Prime location next to The Foothills Performing Arts & Civic Center.; Turnkey condition with a brand new roof, meticulous basement, bar, radiant heating, and 5 new HVACs.
