Mixed-Use Property on Main
For Sale
Contact for pricing
26 Main St, Oneonta, NY 13820
Versatile mixed-use property with restaurant and residential units.
Property Size7,754 SF
Lot Size0.77 Acres
Price / SF$190.22
Days on Market971
Property Features for 26 Main St
General Information
Standard status
Active
Size
7,754 SF
Lot size
0.77 Acres
Property subtype
Retail
Zoning
MU-1
Lease Type
Modified Gross
Building Details
Year Built
1970
Year Renovated
1995
Stories
2
Tenancy
Multi
Listing Agency:
EXP Commercial - Vega
(585) 735-7739
Listed By:
Michael Conroy · License #NY 10301218830
Source:
Crexi
Added: Dec 19, 2023
Changed: Aug 11
Last Checked: Aug 14 at 10:56PM
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 EXP Commercial - Vega
Investment Insights
Based on property information with market context.
Located at 26 Main Street in Oneonta, NY, this mixed-use property offers opportunities for investors, developers, or business owners. The property has approximately 163 feet of frontage on Main Street, with high visibility and a dedicated turning lane. The site spans approximately 0.77 acres and includes private parking for about 50 vehicles. The building totals approximately 7,754 square feet over two stories, blending historic charm with modern updates, including newer mechanical systems such as a furnace, AC units, and a hot water heater. Currently operating as Alfresco, a restaurant, the property offers the option to continue the existing business, rebrand with a new concept, or reposition the property. It also includes two on-site residential apartments totaling approximately 2,300 square feet with three bedrooms and three bathrooms combined. The property is zoned for a range of commercial uses, making it suitable for restaurants, breweries, boutique lodging, wellness, offices, or mixed-use redevelopment. Located just off Interstate 88, the site captures both local and regional traffic, with an AADT of 12,008. Oneonta is home to SUNY Oneonta and Hartwick College, contributing a strong student population and consistent year-round demand. The city also benefits from a significant tourism base.
Key Highlights
- High‑visibility Main Street location with ±163 feet of frontage and a dedicated turning lane.
- ±0.77‑acre site with rare downtown private parking for approximately 50 vehicles.
- Versatile mixed‑use property with multiple redevelopment options and flexible zoning for various commercial uses.
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
$107,395
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
7.28%
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%
$2,147,900
$2.1M
Cap Rate 7%
$1,534,214
$1.5M
Cap Rate 9%
$1,193,278
$1.2M
Market Conditions
NOI Build-Up for 7,754 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
$147.0K $18.96/SF
− Vacancy
−$3.8K −$0.49/SF
EGI
$143.2K $18.47/SF
− OpEx
−$35.8K −$4.62/SF
NOI
$107.4K $13.85/SF
Area
Otsego County, NY
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
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%
$2,147,900
Cap Rate 7%
$1,534,214
Cap Rate 9%
$1,193,278
Alternative Uses
Best Use
Specialty Retail
$1.53M
$1.34M – $1.79M
NOI $107,395 @ 7.0% cap · market cap 7.28%
Second Best
Mixed Use
$950.4K
$831.6K – $1.11M
NOI $66,529 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$2.14M
$1.87M – $2.49M
NOI $149,621 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
839
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile mixed-use property with restaurant and residential units.
Where is this mixed-use property located?
The property is located at 26 Main St Oneonta, NY.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: High‑visibility Main Street location with ±163 feet of frontage and a dedicated turning lane.; ±0.77‑acre site with rare downtown private parking for approximately 50 vehicles.; Versatile mixed‑use property with multiple redevelopment options and flexible zoning for various commercial uses.
