Mixed-Use Building with
For Sale
$1,350,000
244-248 Main Street, Oneonta, NY 13820
COMMERCIAL - Oneonta, NY
Property Size12,636 SF
Lot Size0.20 Acres
Price / SF$106.84
Days on Market46
Property Features for 244-248 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
320
Zoning description
Commercial
Lot features
Rectangular, Rectangular Lot
Elementary school district
Oneonta
Middle school district
Oneonta
High school district
Oneonta
Subdivision
Oneonta-City-361200
Standard status
Active
APN
300.23-1-24
Size
12,636 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
17929
Utilities
Heating system
Other (Heating), Natural Gas
Building Details
Year built
1900
Floors in Building
3
Roof type
Flat
Listing Agency:
Oneonta Realty, LLC
(607) 441-7312
Listed By:
Lizabeth Rose · License #1049120176
(607) 441-7312
Added: Jul 10
Changed: Aug 19
Last Checked: Aug 24 at 7:06PM
MLS# R1692292
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 mixed-use property at 244-248 Main Street contains 12,636 square feet on a 0.2-acre parcel. The building includes 10 apartments alongside 4 commercial spaces, creating a combined residential and business configuration within one structure. Constructed in 1900, the property features a flat roof and natural gas heating.
The building is located in Oneonta, NY, within Otsego County and ZIP Code 13820. Zoning is identified as 320. The address places the asset directly on Main Street, with separate residential and commercial components supporting a range of occupancy arrangements within the existing layout.
The building is located in Oneonta, NY, within Otsego County and ZIP Code 13820. Zoning is identified as 320. The address places the asset directly on Main Street, with separate residential and commercial components supporting a range of occupancy arrangements within the existing layout.
Key Highlights
- 10 apartments within the mixed‑use building
- 4 commercial spaces included
- 12,636 square feet on a 0.2‑acre parcel
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 - Main Street property combines residential apartments with multiple commercial spaces.
Where is this mixed-use property located?
The property is located at 244-248 Main Street 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 mixed‑use building; 4 commercial spaces included; 12,636 square feet on a 0.2‑acre parcel
