Restaurant with Second-Floor
For Sale
$675,000
214 Main St, Oneonta, NY 13820
Downtown restaurant space with outdoor seating, a custom wood bar, and an attached residential apartment.
Property Size4,305 SF
Price / SF$156.79
Days on Market15
Property Features for 214 Main St
General Information
Standard status
Active
Size
4,305 SF
Additional Details
Patio
Yes
Building Details
Year Built
1940
Listing Agency:
Benson Agency Real Estate LLC
(607) 287-1559
Listed By:
Rodger B Moran · License #30MO0797197
Source:
Skinnercnyrealty
Added: Aug 16
Changed: Aug 29
Last Checked: Aug 25 at 5:28AM
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 Benson Agency Real Estate LLC
Investment Insights
Based on property information with market context.
This 4,305 SF restaurant property at 214 Main Street includes a finished dining environment with tile flooring, a live-oak wood bar, and extensive glass that connects the interior to the downtown setting. French doors open toward outdoor seating positioned behind the Al Galladoro performance stage, creating a direct relationship between the restaurant and the adjacent event area.
The property is situated in downtown Oneonta next to Muller Plaza and the Al Galladoro performance stage, a setting used for community and kickoff events. A second-floor apartment adds two bedrooms, a bath and a half, and a modern kitchen with an appliance package. The apartment also has views toward the southern city hillside and downtown plaza.
The property is situated in downtown Oneonta next to Muller Plaza and the Al Galladoro performance stage, a setting used for community and kickoff events. A second-floor apartment adds two bedrooms, a bath and a half, and a modern kitchen with an appliance package. The apartment also has views toward the southern city hillside and downtown plaza.
Key Highlights
- 4,305 SF restaurant property at 214 Main Street, Oneonta, NY 13820
- Located next to Muller Plaza and the Al Galladoro performance stage
- French doors open to outdoor seating behind the performance stage
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
$59,625
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
8.83%
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%
$1,192,500
$1.2M
Cap Rate 7%
$851,786
$851.8K
Cap Rate 9%
$662,500
$662.5K
Market Conditions
NOI Build-Up for 4,305 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
$81.6K $18.96/SF
− Vacancy
−$2.1K −$0.49/SF
EGI
$79.5K $18.47/SF
− OpEx
−$19.9K −$4.62/SF
NOI
$59.6K $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%
$1,192,500
Cap Rate 7%
$851,786
Cap Rate 9%
$662,500
Alternative Uses
Best Use
Specialty Retail
$851.8K
$745.3K – $993.8K
NOI $59,625 @ 7.0% cap · market cap 8.83%
Second Best
Mixed Use
$527.7K
$461.7K – $615.6K
NOI $36,937 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $83,069 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,123
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Downtown restaurant space with outdoor seating, a custom wood bar, and an attached residential apartment.
Where is this conventional restaurant located?
The property is located at 214 Main St Oneonta, NY.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 4,305 SF restaurant property at 214 Main Street, Oneonta, NY 13820; Located next to Muller Plaza and the Al Galladoro performance stage; French doors open to outdoor seating behind the performance stage
