Mixed-Use Property with Main-Level
For Sale
$799,900
226 Genesee St, Utica, NY 13502
Three-level building with preserved bar features and adaptable upper-floor layouts.
Property Size5,950 SF
Price / SF$134.44
Days on Market22
Property Features for 226 Genesee St
General Information
Standard status
Active
Size
5,950 SF
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Building Details
Year Built
1950
Listing Agency:
Coldwell Banker Faith Properties
(315) 525-2733
Listed By:
Lori DiNardo-Emmerich · License #10401218651
Source:
Skinnercnyrealty
Added: Aug 8
Changed: Aug 28
Last Checked: Aug 28 at 8:24PM
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 Faith Properties
Investment Insights
Based on property information with market context.
This 5,950-square-foot mixed-use building, constructed in 1950, combines an established bar setting with flexible upper-floor space. The main level retains a wood bar originally associated with St. Mark’s Tavern and includes Meyda Tiffany lighting. Original architectural elements, tall ceilings, broad windows, and open layouts contribute to the building’s distinctive interior character.
The second and third floors offer space identified for loft apartments, creative studios, or live-work arrangements. The property is located at 226 Genesee St in downtown Utica, within walking distance of Wynn Hospital, the Stanley Theatre, Adirondack Bank Center, Harbor Point, restaurants, boutique hotels, cultural attractions, and other operating businesses.
The second and third floors offer space identified for loft apartments, creative studios, or live-work arrangements. The property is located at 226 Genesee St in downtown Utica, within walking distance of Wynn Hospital, the Stanley Theatre, Adirondack Bank Center, Harbor Point, restaurants, boutique hotels, cultural attractions, and other operating businesses.
Key Highlights
- 5,950‑square‑foot mixed‑use building at 226 Genesee St, Utica, NY 13502
- Constructed in 1950
- Main‑level bar includes original wood bar from St. Mark’s Tavern, dating to the 1950s
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
$70,686
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
8.84%
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%
$1,413,720
$1.4M
Cap Rate 7%
$1,009,800
$1.0M
Cap Rate 9%
$785,400
$785.4K
Market Conditions
NOI Build-Up for 5,950 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
$128.5K $21.60/SF
− Vacancy
−$15.4K −$2.59/SF
EGI
$113.1K $19.01/SF
− OpEx
−$42.4K −$7.13/SF
NOI
$70.7K $11.88/SF
Area
Oneida County, NY
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,413,720
Cap Rate 7%
$1,009,800
Cap Rate 9%
$785,400
Alternative Uses
Best Use
Office B
$1.07M
$937.1K – $1.25M
NOI $74,970 @ 7.0% cap · market cap 9.37%
Second Best
Mixed Use
$1.01M
$883.6K – $1.18M
NOI $70,686 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,756 @ 7.0% cap · market cap 13.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,730
Businesses Nearby
Explore this area
Business Placement
Demographics for 13502, NY
33,990
Population
15,337
Households
2.2
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
51.4 sq mi
ZIP Area
661
Density / Sq Mi
$59,530
Median Household Income
$36,927
Median Earnings
$965
Median Rent
$149,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-level building with preserved bar features and adaptable upper-floor layouts.
Where is this mixed-use property located?
The property is located at 226 Genesee St Utica, NY.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 5,950‑square‑foot mixed‑use building at 226 Genesee St, Utica, NY 13502; Constructed in 1950; Main‑level bar includes original wood bar from St. Mark’s Tavern, dating to the 1950s
