Historic Bar and Loft
For Sale
$799,900
226 Genesee Street, Utica, NY 13502
Main level features a preserved bar with Meyda Tiffany lighting and original woodwork; second and third floors offer loft-style possibilities.
Property Size5,950 SF
Days on Market315
Property Features for 226 Genesee Street
General Information
Standard status
Active
Size
5,950 SF
Property subtype
Commercial
Zoning
mixed use, Business
Taxes and HOA fees
Annual Taxes
$2,959
Building Details
Building Size
5,950 SF
Year Built
1950
Buildings
1
Stories
3
Listing Agency:
Coldwell Banker Faith Properties
(315) 525-2733
Listed By:
Lori DiNardo-Emmerich · License #10401218651
(315) 525-2733
Source:
Homeprocny
Added: Oct 13, 2025
Changed: Aug 23
Last Checked: Aug 22 at 1:26PM
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 downtown property includes a historic main-level bar space with preserved character and craftsmanship. The bar area features hand-crafted Meyda Tiffany lighting and the original wood bar from St. Mark’s Tavern, dated back to the 1950s. The second and third floors provide expansive layouts with high ceilings and large windows, along with original architectural details.
Located on Genesee Street in downtown Utica, the building is described as being within walking distance to the brand-new Wynn Hospital, the historic Stanley Theatre, the Adirondack Bank Center, and the Harbor Point development, with nearby restaurants, boutique hotels, and cultural attractions.
The configuration supports multiple redevelopment directions, including restoring the bar concept or converting the upper levels into loft apartments, creative studios, or unique living/working spaces, based on the existing multi-level layout.
Located on Genesee Street in downtown Utica, the building is described as being within walking distance to the brand-new Wynn Hospital, the historic Stanley Theatre, the Adirondack Bank Center, and the Harbor Point development, with nearby restaurants, boutique hotels, and cultural attractions.
The configuration supports multiple redevelopment directions, including restoring the bar concept or converting the upper levels into loft apartments, creative studios, or unique living/working spaces, based on the existing multi-level layout.
Key Highlights
- Downtown Utica property on Genesee Street with historic bar space on the main level
- Main‑level preserved bar includes hand‑crafted Meyda Tiffany lighting and original wood bar from St. Mark’s Tavern (dating back to the 1950s)
- Second and third floors offer loft‑style possibilities for loft apartments, creative studios, or living/working spaces
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
Location Intelligence
Trade Area within ½ mile
1,730
Businesses Nearby
Well-served
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Main level features a preserved bar with Meyda Tiffany lighting and original woodwork; second and third floors offer loft-style possibilities.
Where is this bar & pub located?
The property is located at 226 Genesee Street 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: Downtown Utica property on Genesee Street with historic bar space on the main level; Main‑level preserved bar includes hand‑crafted Meyda Tiffany lighting and original wood bar from St. Mark’s Tavern (dating back to the 1950s); Second and third floors offer loft‑style possibilities for loft apartments, creative studios, or living/working spaces
