Redevelopment Opportunity on Burrstone
For Sale
$149,900
Pending
1733 Burrstone Rd, New Hartford, NY 13413
Two parcels with income potential and redevelopment opportunity.
Property Size957 SF
Days on Market109
Property Features for 1733 Burrstone Rd
General Information
Standard status
Pending
Size
957 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$465
Building Details
Building Size
957 SF
Year Built
1949
Stories
1
Listing Agency:
Coldwell Banker Sexton Real Estate
(315) 796-4732
Listed By:
Kathleen Despins
(315) 796-4732
Source:
Elliman
Added: May 11
Changed: Aug 23
Last Checked: Aug 26 at 12:22PM
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 Coldwell Banker Sexton Real Estate
Investment Insights
Based on property information with market context.
This offering features two adjacent parcels on high-visibility Burrstone Road, to be sold together. One parcel, located at 1731 Burrstone Rd, is currently home to an actively operating ice cream business, providing immediate income potential. The commercial space includes air conditioning and heat. The tenant is open to staying a couple more years. The second parcel, located at 1733 Burrstone Rd, features a residential structure that has experienced fire damage and is being sold as-is. This presents a prime redevelopment or rebuild opportunity in a desirable location. This package is ideal for investors, developers, or owner-operators looking to capitalize on strong road exposure, steady traffic flow, and mixed-use potential in a sought-after New Hartford corridor. The location has a walk score of 42, indicating it is car-dependent, and a bike score of 30, meaning it is somewhat bikeable.
Key Highlights
- Two adjacent parcels on high‑visibility Burrstone Road being sold together.
- Actively operating ice cream business at 1731 Burrstone Rd provides immediate income potential.
- 1733 Burrstone Rd offers a redevelopment or rebuild opportunity after fire damage.
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
$11,023
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
7.35%
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%
$220,460
$220.5K
Cap Rate 7%
$157,471
$157.5K
Cap Rate 9%
$122,478
$122.5K
Market Conditions
NOI Build-Up for 957 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
$15.5K $16.20/SF
− Vacancy
−$806 −$0.84/SF
EGI
$14.7K $15.36/SF
− OpEx
−$3.7K −$3.84/SF
NOI
$11.0K $11.52/SF
Area
Oneida County, NY
Vacancy
5.20%
Lease Rate
$16.20 /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%
$220,460
Cap Rate 7%
$157,471
Cap Rate 9%
$122,478
Alternative Uses
Best Use
Specialty Retail
$157.5K
$137.8K – $183.7K
NOI $11,023 @ 7.0% cap · market cap 7.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$252.2K
$220.7K – $294.2K
NOI $17,653 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,038
Businesses Nearby
66k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 54%
Dining 37%
Hotels & Casinos 5%
Shops & Services 5%
The Home Depot
Home Improvements & Furnishings
35,788 visits/mo
0.3 miles
Dunkin' Donuts
Dining
13,903 visits/mo
0.1 miles
Friendly's Ice Cream
Dining
5,329 visits/mo
0.2 miles
IHOP
Dining
5,155 visits/mo
0.4 miles
Burrstone Inn, Ascend Hotel Collection
Hotels & Casinos
3,121 visits/mo
0.2 miles
Demographics for 13413, NY
15,574
Population
7,537
Households
2.1
Avg Household Size
47
Median Age
49%
College-Educated
95%
High-School Grad
19.3 sq mi
ZIP Area
807
Density / Sq Mi
$91,899
Median Household Income
$57,723
Median Earnings
$1,133
Median Rent
$218,900
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?
Conventional restaurant - Two parcels with income potential and redevelopment opportunity.
Where is this conventional restaurant located?
The property is located at 1733 Burrstone Rd New Hartford, NY.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Two adjacent parcels on high‑visibility Burrstone Road being sold together.; Actively operating ice cream business at 1731 Burrstone Rd provides immediate income potential.; 1733 Burrstone Rd offers a redevelopment or rebuild opportunity after fire damage.
