Nursery and Garden Center
For Sale
$360,000
248 River Street, Oneonta, NY 13820
CommercialSale, Oneonta, NY
Property Size3,050 SF
Price / SF$118.03
Days on Market51
Property Features for 248 River Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C/I
Zoning description
Commercial
Parking
20
Lot features
Irregular Lot
Elementary school district
Oneonta
Middle school district
Oneonta
High school district
Oneonta
Subdivision
Oneonta-City-361200
Standard status
Active
APN
299.15-1-9.2
Size
3,050 SF
Taxes and HOA fees
Tax Annual Amount
1455
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Natural Gas, Baseboard, Hot Water(Heating)
Cooling system
Separate Meters
Water source
Public
Amenities
koi pond
stream
perennials
pergola/hardscape walkways
greenhouse
underground water/electric
Building Details
Year built
1970
Floors in Building
2
Building materials
Frame
Roof type
Shingle
Listing Agency:
Benson Agency Real Estate LLC
(607) 432-4391
Listed By:
Rodger B Moran · License #30MO0797197
(607) 287-1559
Added: Aug 12
Changed: Sep 16
Last Checked: Oct 1 at 7:06PM
MLS# R1706777
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 nursery and garden center property combines commercial space, outdoor improvements, and residential accommodations. The site includes 1,650 square feet of office and retail area, a functional greenhouse, underground water and electric service, and 2,500 square feet of pergola, hardscape walkway, open, and covered areas. Yard space supports retail display and outdoor activities, while a koi pond, stream, and perennial plantings form the main entrance setting.
The property also includes a new 650-square-foot, one-bedroom first-floor apartment and a new 850-square-foot second-floor apartment with an open-concept kitchen and living area, two bedrooms, one and a half baths, and a washer and dryer. Major interior and exterior improvements have been completed. The building has frame construction, a shingle roof, public water, public sewer, and C/I zoning. Heating includes hot water, natural gas, baseboard, and electric systems, with separate-metered cooling.
The property also includes a new 650-square-foot, one-bedroom first-floor apartment and a new 850-square-foot second-floor apartment with an open-concept kitchen and living area, two bedrooms, one and a half baths, and a washer and dryer. Major interior and exterior improvements have been completed. The building has frame construction, a shingle roof, public water, public sewer, and C/I zoning. Heating includes hot water, natural gas, baseboard, and electric systems, with separate-metered cooling.
Key Highlights
- 1,650 square feet of office and retail space
- 2,500 square feet of pergola, hardscape walkway, open, and covered areas
- Functional greenhouse with underground water and electric service
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
$29,453
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
8.18%
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%
$589,060
$589.1K
Cap Rate 7%
$420,757
$420.8K
Cap Rate 9%
$327,256
$327.3K
Market Conditions
NOI Build-Up for 3,050 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
$43.9K $14.40/SF
− Vacancy
−$1.8K −$0.60/SF
EGI
$42.1K $13.80/SF
− OpEx
−$12.6K −$4.14/SF
NOI
$29.5K $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%
$589,060
Cap Rate 7%
$420,757
Cap Rate 9%
$327,256
Alternative Uses
Best Use
Office B
$550.6K
$481.8K – $642.3K
NOI $38,540 @ 7.0% cap · market cap 10.71%
Second Best
Retail
$420.8K
$368.2K – $490.9K
NOI $29,453 @ 7.0% cap · market cap 8.18%
Theoretical Best
Office A
$840.8K
$735.7K – $980.9K
NOI $58,853 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
Balanced
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Nursery and garden center - Former nursery site with retail, office, greenhouse, outdoor display areas, and two newly completed apartments.
Where is this nursery and garden center located?
The property is located at 248 River Street Oneonta, NY.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 1,650 square feet of office and retail space; 2,500 square feet of pergola, hardscape walkway, open, and covered areas; Functional greenhouse with underground water and electric service
