Multi-Building Restaurant
New
For Sale
$1,900,000
18-28 Oneida Street, Oneonta, NY 13820
CommercialSale, Oneonta, NY
Property Size9,234 SF
Lot Size2.13 Acres
Price / SF$205.76
Days on Market4
Property Features for 18-28 Oneida Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GBD
Zoning description
Commercial
Parking
250
Lot features
Irregular Lot
Elementary school district
Oneonta
Middle school district
Oneonta
High school district
Oneonta
Directions
I88 to Exit 13. Follow signs to Rts 23/7 East down Oneida Street, property is on the left past the traffic light.
Subdivision
Oneonta-Town-364600
Standard status
Active
APN
299.06-2-68.00
Size
9,234 SF
Lot size
2.13 Acres
Taxes and HOA fees
Tax Annual Amount
21718
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas, Hot Water(Heating), Oil
Cooling system
Central Air
Water source
Public
Building Details
Year built
1965
Floors in Building
1
Flooring type
Carpet
Building materials
Brick, Block, Frame
Roof type
Rubber, Membrane, Asphalt, Flat
Listing Agency:
Benson Agency Real Estate LLC
(607) 432-4391
Listed By:
Rodger B Moran · License #30MO0797197
(607) 287-1559
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 4 at 6:06PM
MLS# R1711965
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2.13-acre offering combines four tax parcels and 9,234 square feet of improvements. The property includes a 4,000-square-foot restaurant building, a 1,792-square-foot office building, a 1,008-square-foot commercial building, a 1,479-square-foot Arts and Crafts brick bungalow residence, and a 955-square-foot Cape-style home. The restaurant has operated under the same family ownership for 55 years and conveys with its equipment. Construction materials include brick, block, and frame, with central air, public water, public sewer, and natural gas service.
The property is located at 18-28 Oneida Street in Oneonta, NY, with access from I-88 and proximity to Cooperstown All Star Village, which is less than a mile away. Its corner location at Oneida Street and Van Woert Avenue includes a mix of restaurant, office, commercial, and residential improvements within the same four-parcel assemblage.
The property is located at 18-28 Oneida Street in Oneonta, NY, with access from I-88 and proximity to Cooperstown All Star Village, which is less than a mile away. Its corner location at Oneida Street and Van Woert Avenue includes a mix of restaurant, office, commercial, and residential improvements within the same four-parcel assemblage.
Key Highlights
- 2.13 acres across four tax parcels
- 9,234 square feet of combined improvements
- 4,000‑square‑foot restaurant building with equipment included
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
$127,893
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
6.73%
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%
$2,557,860
$2.6M
Cap Rate 7%
$1,827,043
$1.8M
Cap Rate 9%
$1,421,033
$1.4M
Market Conditions
NOI Build-Up for 9,234 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
$175.1K $18.96/SF
− Vacancy
−$4.6K −$0.49/SF
EGI
$170.5K $18.47/SF
− OpEx
−$42.6K −$4.62/SF
NOI
$127.9K $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%
$2,557,860
Cap Rate 7%
$1,827,043
Cap Rate 9%
$1,421,033
Alternative Uses
Best Use
Specialty Retail
$1.83M
$1.60M – $2.13M
NOI $127,893 @ 7.0% cap · market cap 6.73%
Second Best
Office B
$1.67M
$1.46M – $1.94M
NOI $116,681 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$2.55M
$2.23M – $2.97M
NOI $178,179 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
216
Businesses Nearby
Under-served
Demand for This Use
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant operation with adjoining office, commercial, and residential buildings supported by public utilities and GBD zoning.
Where is this conventional restaurant located?
The property is located at 18-28 Oneida Street Oneonta, NY.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 2.13 acres across four tax parcels; 9,234 square feet of combined improvements; 4,000‑square‑foot restaurant building with equipment included
