Historic Mixed-Use
For Sale
$799,900
226 Genesee Street, Utica, NY 13502
COMMERCIAL - Utica, NY
Property Size5,950 SF
Lot Size0.05 Acres
Price / SF$134.44
Days on Market311
Property Features for 226 Genesee Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
mixed use
Zoning description
Business
Rooms
Basement
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
Sewer type
Public Sewer
Heating system
Natural Gas, Gravity
Water source
Public
Building Details
Year built
1950
Floors in Building
3
Roof type
Membrane, Rubber
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 19 at 6:06PM
MLS# S1644838
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.
Located at 226 Genesee Street in downtown Utica, this 5,950-square-foot mixed-use property was built in 1950 and occupies a 0.0505-acre lot. The building includes a basement, public water and public sewer, natural gas and gravity heating, and a membrane and rubber roof system. Mixed-use zoning supports the property’s commercial and upper-floor configuration.
The main level contains a preserved bar area with a wood bar originating from St. Mark’s Tavern and hand-crafted Meyda Tiffany lighting. The second and third floors provide expansive layouts with high ceilings, large windows, and original architectural details. The property is within walking distance of Wynn Hospital, the Stanley Theatre, Adirondack Bank Center, Harbor Point, restaurants, boutique hotels, cultural attractions, and other downtown businesses.
The main level contains a preserved bar area with a wood bar originating from St. Mark’s Tavern and hand-crafted Meyda Tiffany lighting. The second and third floors provide expansive layouts with high ceilings, large windows, and original architectural details. The property is within walking distance of Wynn Hospital, the Stanley Theatre, Adirondack Bank Center, Harbor Point, restaurants, boutique hotels, cultural attractions, and other downtown businesses.
Key Highlights
- 5,950‑square‑foot mixed‑use property on a 0.0505‑acre lot
- Built in 1950 with mixed‑use zoning
- Main‑level bar includes original wood bar from St. Mark’s Tavern
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
Lease Details
Yes
Paved road access
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 - Character-rich commercial building with a preserved bar area and adaptable upper-floor space in downtown Utica.
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 property on a 0.0505‑acre lot; Built in 1950 with mixed‑use zoning; Main‑level bar includes original wood bar from St. Mark’s Tavern
