Renovated Two-Bay Auto
For Sale
$149,000
184 Main Street, Unadilla, NY 13849
Renovated service facility with vehicle lifts, customer waiting area, office space, and on-site parking.
Property Size1,280 SF
Days on Market214
Property Features for 184 Main Street
General Information
Standard status
Active
Size
1,280 SF
Total Parking Spaces
5
Property subtype
Commercial
Zoning
Commercial, Business
Additional Details
Service Bays
2
Taxes and HOA fees
Annual Taxes
$1,751
Amenities
customer waiting room
office area
mezzanine storage
basement utilities and air compressor
exterior restrooms
newly surfaced parking lot
Building Details
Building Size
1,280 SF
Year Built
1960
Buildings
1
Stories
1
Listing Agency:
Howard Hanna
(315) 796-6573
Listed By:
Leo V. Burns III
(315) 796-6573
Source:
Homeprocny
Added: Jan 30
Changed: Aug 31
Last Checked: Aug 2 at 4:54AM
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 Howard Hanna
Investment Insights
Based on property information with market context.
Built in 1960 and recently renovated, this commercial service facility is configured for automotive and related service operations. The property includes two service bays with vehicle lifts, a customer waiting room, a dedicated office, mezzanine storage, and two exterior restrooms. A basement level contains the utilities and air compressor, while existing shop equipment remains with the property.
The newly surfaced parking lot provides space for parking and vehicle circulation. Commercial, Business zoning supports the property’s stated commercial setting, and the flexible layout is suited to automotive service, repair, specialty trades, or light industrial use. The facility is located at 184 Main Street in Unadilla, NY 13849.
The newly surfaced parking lot provides space for parking and vehicle circulation. Commercial, Business zoning supports the property’s stated commercial setting, and the flexible layout is suited to automotive service, repair, specialty trades, or light industrial use. The facility is located at 184 Main Street in Unadilla, NY 13849.
Key Highlights
- Two service bays equipped with vehicle lifts
- Recently renovated commercial service facility built in 1960
- Customer waiting room, dedicated office, and mezzanine storage
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
$12,360
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
8.30%
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%
$247,200
$247.2K
Cap Rate 7%
$176,571
$176.6K
Cap Rate 9%
$137,333
$137.3K
Market Conditions
NOI Build-Up for 1,280 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
$18.4K $14.40/SF
− Vacancy
−$774 −$0.60/SF
EGI
$17.7K $13.80/SF
− OpEx
−$5.3K −$4.14/SF
NOI
$12.4K $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 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%
$247,200
Cap Rate 7%
$176,571
Cap Rate 9%
$137,333
Alternative Uses
Best Use
Retail
$176.6K
$154.5K – $206.0K
NOI $12,360 @ 7.0% cap · market cap 8.30%
Second Best
Industrial
$113.1K
$99.0K – $131.9K
NOI $7,916 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$352.8K
$308.7K – $411.7K
NOI $24,699 @ 7.0% cap · market cap 16.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Service bays
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13849, NY
4,456
Population
2,472
Households
1.8
Avg Household Size
48
Median Age
23%
College-Educated
90%
High-School Grad
72.0 sq mi
ZIP Area
62
Density / Sq Mi
$55,884
Median Household Income
$35,747
Median Earnings
$830
Median Rent
$120,800
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Renovated service facility with vehicle lifts, customer waiting area, office space, and on-site parking.
Where is this auto shop located?
The property is located at 184 Main Street Unadilla, NY.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: Two service bays equipped with vehicle lifts; Recently renovated commercial service facility built in 1960; Customer waiting room, dedicated office, and mezzanine storage
