Downtown Restaurant With
For Sale
$675,000
214 Main Street, Oneonta, NY 13820
CommercialSale, Oneonta, NY
Property Size4,305 SF
Lot Size0.05 Acres
Price / SF$156.79
Days on Market50
Property Features for 214 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GBD
Zoning description
Business
Rooms
Basement
Lot features
Irregular Lot
Elementary school district
Oneonta
Middle school district
Oneonta
High school district
Oneonta
Directions
I88 Exit 15 to Main Street (Route 7) traffic circle, to third exit onto Main St heading west, building is on left between Ford and Dietz Streets.
Subdivision
Oneonta-City-361200
Standard status
Active
APN
300.31-1-37.3
Size
4,305 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6469
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard, Electric (Heating), Forced Air
Cooling system
Central Air
Building Details
Year built
1940
Floors in Building
2
Flooring type
Carpet, Concrete
Building materials
Brick, Frame
Roof type
Flat, Rolled Hot Mop
Architectural style
Other
Listing Agency:
Benson Agency Real Estate LLC
(607) 432-4391
Listed By:
Rodger B Moran · License #30MO0797197
(607) 287-1559
Added: Jul 28
Changed: Sep 12
Last Checked: Sep 15 at 10:06AM
MLS# R1702640
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 4,305-square-foot restaurant property at 214 Main Street includes a finished dining space with tile flooring, a natural live-oak bar, and extensive glass. French doors open toward outdoor seating positioned behind the Al Galladoro performance stage. The property also includes a two-bedroom, one-and-a-half-bath second-floor apartment with a modern kitchen and appliance package. The apartment provides views toward the southern city hillside and downtown plaza.
Constructed in 1940, the building combines brick and frame construction with carpet and concrete flooring. Building systems include central air, electric and natural-gas heating, forced air, baseboard heating, and public sewer service. A basement is also included.
Constructed in 1940, the building combines brick and frame construction with carpet and concrete flooring. Building systems include central air, electric and natural-gas heating, forced air, baseboard heating, and public sewer service. A basement is also included.
Key Highlights
- 4,305‑square‑foot restaurant property at 214 Main Street
- Two‑bedroom, one‑and‑a‑half‑bath second‑floor apartment
- Outdoor seating behind the Al Galladoro 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
Retail
$593.9K
$519.7K – $692.9K
NOI $41,572 @ 7.0% cap · market cap 6.16%
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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Restaurant property with outdoor seating, a second-floor apartment, and direct adjacency to a downtown performance venue.
Where is this conventional restaurant located?
The property is located at 214 Main Street 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‑square‑foot restaurant property at 214 Main Street; Two‑bedroom, one‑and‑a‑half‑bath second‑floor apartment; Outdoor seating behind the Al Galladoro performance stage
