Mixed-Use Building with
For Sale
$1,350,000
244-248 Main St, Oneonta, NY 13820
Two-part property combining residential units with multiple commercial suites in a Main Street building.
Property Size12,636 SF
Price / SF$106.84
Days on Market43
Property Features for 244-248 Main St
General Information
Standard status
Active
Size
12,636 SF
Additional Details
Road Access
Yes
Multifamily Units
10
Building Details
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
Oneonta Realty, LLC
(607) 441-7312
Listed By:
Lizabeth Rose · License #1049120176
Source:
Countryboyrealty
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 30 at 7:23PM
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 Oneonta Realty, LLC
Investment Insights
Based on property information with market context.
This mixed-use property at 244-248 Main St includes 10 apartments and 4 commercial spaces within a 12,636-square-foot building. Constructed in 1900, the asset combines residential and commercial occupancy in one integrated property.
The building is situated on Main St in Oneonta, NY 13820, providing a traditional street-front setting for its residential and commercial components.
The building is situated on Main St in Oneonta, NY 13820, providing a traditional street-front setting for its residential and commercial components.
Key Highlights
- 10 apartments within the building
- 4 commercial spaces included
- 12,636‑square‑foot mixed‑use property
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
$122,021
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
9.04%
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%
$2,440,420
$2.4M
Cap Rate 7%
$1,743,157
$1.7M
Cap Rate 9%
$1,355,789
$1.4M
Market Conditions
NOI Build-Up for 12,636 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
$182.0K $14.40/SF
− Vacancy
−$7.6K −$0.60/SF
EGI
$174.3K $13.80/SF
− OpEx
−$52.3K −$4.14/SF
NOI
$122.0K $9.66/SF
Area
Otsego County, NY
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$2,440,420
Cap Rate 7%
$1,743,157
Cap Rate 9%
$1,355,789
Alternative Uses
Best Use
Retail
$1.74M
$1.53M – $2.03M
NOI $122,021 @ 7.0% cap · market cap 9.04%
Second Best
Mixed Use
$1.55M
$1.36M – $1.81M
NOI $108,417 @ 7.0% cap · market cap 8.03%
Theoretical Best
Office A
$3.48M
$3.05M – $4.06M
NOI $243,824 @ 7.0% cap · market cap 18.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,123
Businesses Nearby
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-part property combining residential units with multiple commercial suites in a Main Street building.
Where is this mixed-use property located?
The property is located at 244-248 Main St Oneonta, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 10 apartments within the building; 4 commercial spaces included; 12,636‑square‑foot mixed‑use property
