Mixed-Use Property With Bar
For Sale
$799,900
226 Genesee Street, Utica, NY 13502
Residential, Utica, NY
Property Size5,950 SF
Lot Size0.05 Acres
Price / SF$134.44
Days on Market315
Property Features for 226 Genesee Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Driveway
Appliances
GasWaterHeater
Lot features
Irregular Lot
Elementary school district
Utica
Middle school district
Utica
High school district
Utica
Subdivision
Utica-City-301600
Standard status
Active
APN
301600-318-050-0002-011-000-0000
Size
5,950 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
2959
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1950
Floors in Building
3
Number of units
4
Flooring type
Varies, Laminate
Building materials
Brick
Roof type
Rubber, Membrane
Architectural style
Other
Listing Agency:
Coldwell Banker Faith Properties · Coldwell Banker Real Estate
(315) 735-2222
Listed By:
Lori DiNardo-Emmerich · License #10401218651
(315) 525-2733
Added: Oct 13, 2025
Changed: Aug 19
Last Checked: Aug 23 at 10:06PM
MLS# S1644865
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 5,950-square-foot mixed-use building occupies a 0.0505-acre lot and was constructed in 1950. The brick property includes a preserved main-level bar with an original wood bar from St. Mark’s Tavern and handcrafted Meyda Tiffany lighting. The second and third floors provide expansive layouts with high ceilings, large windows, and original architectural details. Existing systems include natural-gas forced-air heat, public water, a rubber membrane roof, and driveway parking.
Located on Genesee Street in downtown Utica, the property is within walking distance of Wynn Hospital, the Stanley Theatre, Adirondack Bank Center, and Harbor Point. The surrounding area includes businesses, restaurants, boutique hotels, and cultural attractions. Upper-floor concepts identified for the property include loft apartments, creative studios, and living/working spaces.
Located on Genesee Street in downtown Utica, the property is within walking distance of Wynn Hospital, the Stanley Theatre, Adirondack Bank Center, and Harbor Point. The surrounding area includes businesses, restaurants, boutique hotels, and cultural attractions. Upper-floor concepts identified for the property include loft apartments, creative studios, and living/working spaces.
Key Highlights
- 5,950‑square‑foot mixed‑use building on a 0.0505‑acre lot
- Preserved main‑level bar with original wood bar from St. Mark’s Tavern
- Handcrafted Meyda Tiffany lighting in the bar area
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
Mixed Use
$1.01M
$883.6K – $1.18M
NOI $70,686 @ 7.0% cap · market cap 8.84%
Second Best
Specialty Retail
$979.0K
$856.7K – $1.14M
NOI $68,533 @ 7.0% cap · market cap 8.57%
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
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 60%
Hotels & Casinos 32%
Dining 8%
DoubleTree by Hilton Utica
Hotels & Casinos
5,301 visits/mo
0.2 miles
NBT Bank
Shops & Services
5,079 visits/mo
0.1 miles
M&T Bank
Shops & Services
3,464 visits/mo
0.1 miles
Truck Rental in Utica, NY 13502
Shops & Services
1,506 visits/mo
0.2 miles
Lotus Garden
Dining
1,301 visits/mo
0.2 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Main-level bar space features an original wood bar and handcrafted Meyda Tiffany lighting.
Where is this mixed-use property 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: 5,950‑square‑foot mixed‑use building on a 0.0505‑acre lot; Preserved main‑level bar with original wood bar from St. Mark’s Tavern; Handcrafted Meyda Tiffany lighting in the bar area
