Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    6208 State Highway 28 Otsego, NY 13337

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $850,000

    Mixed-use property with commercial spaces and residential units near Cooperstown.

    Lot size:
    2.06 Acres

    Property Features for 6208 State Highway 28

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    2.06 Acres

    Building Details

    Year built
    1970

    We can help!

    Listing Contact
    Brandon Mosher
    Brandon Mosher
    Source: Elliman

    Listing Agency: River Hills Properties LLC Lf Listing Agent: Brandon Mosher

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Mixed-Use Property Near Cooperstown

    Located in Fly Creek, this mixed-use property at 6208 NY-28 features a blend of small-town charm and modern updates. Situated minutes from Cooperstown and the Fly Creek Cider Mill, the property is positioned on a visible corner. The building includes two commercial spaces and four residential rental units. The primary commercial space is a fully equipped restaurant and bar, featuring a dining area with tall ceilings, hardwood floors, and expansive windows. It also includes a professional kitchen, a handcrafted bar, and a large outdoor deck. The adjacent commercial storefront is currently used as a consignment shop, featuring its own entrance, display windows, and an open layout suitable for retail, office, or studio use. Upstairs, the property offers four apartments, each with updated kitchens and bathrooms, living areas, and private entries. The apartments have a rental history and provide monthly income. Additional features include parking, updated mechanical systems, and a restored exterior. The property also offers rear views and a lot with open green space. This property is located in Otsego County.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Dental Office Gym & Fitness Center Hotel & Motel Department Store Clothing & Fashion Store Wine and Liquor Store Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Otsego
    County
    Otsego
    State
    New York
    Longitude
    -74.9828628
    Latitude
    42.7184286

    Nearby Similar for Lease

    • New
      $850,000
      12,234 SF

      Mixed-Use Investment Opportunity in Fly Creek

      Mixed-use property with commercial spaces and residential units.
      6208 State Highway 28, Fly Creek, NY 13337
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with commercial spaces and residential units near Cooperstown.
    Where is this mixed-use property located?
    The property is located at 6208 State Highway 28 Otsego, NY.
    What is the lease rate?
    The lease rate is $850,000.
    What are key features of this property?
    This property features: - Mixed-use property with multiple income streams; - Fully equipped restaurant and bar with elegant dining area and outdoor deck; - Prime location in the heart of Fly Creek
    (315) 508-5268
    Request Owner's contact information
    6208 State Highway 28 Otsego, NY 13337
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6208 State Highway 28
    Otsego, NY 13337
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    6208 State Highway 28 Otsego, NY 13337
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Brandon Mosher
    Brandon Mosher
    Real Estate License ID: 10301224028
    (315) 508-5268 (315) 502-5268 (315) 868-4596
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!