Building Details

Year Built 1940

Year Renovated 2015

Buildings 1

Stories 2

Listing Agency: Hunt Real Estate ERA

Listed By: Erica Laquidara · License #10301221265 Show Phone

Source: Skinnercnyrealty

Added: Jul 6 Changed: Aug 29 Last Checked: Oct 15 at 7:44AM

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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 Hunt Real Estate ERA

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Investment Insights

Based on property information with market context.

The historic former Vienna Hotel is a two-story commercial property on approximately 2.5 acres in Blossvale. The building has received major improvements in 2015 and additional upgrades during the past couple years, including work to the roof, siding, heat pumps, and many windows. A large custom bar occupies the main level, while four former hotel rooms are located upstairs. The property will be cleared for the next owner, leaving the existing improvements and interior configuration available for a new operating concept.

Located at the corner of State Route 49 and State Route 13, the property has 582 feet of total road frontage and sits minutes from the water. Its established hotel layout and existing bar area support continued hospitality use, subject to applicable approvals.

Key Highlights

• Approximately 2.5 acres
• 582 feet of total road frontage
• Corner location at State Route 49 and State Route 13

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,036

Cap Rate

8.97%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$500,720 $500.7K

Cap Rate 7%

$357,657 $357.7K

Cap Rate 9%

$278,178 $278.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,507 SF

Gross rent

$117.1K $18.00/SF

− Vacancy

−$64.4K −$9.90/SF

EGI

$52.7K $8.10/SF

− OpEx

−$27.7K −$4.25/SF

NOI

$25.0K $3.85/SF

Area

Oneida County, NY

Vacancy

55.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

52.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$500,720

Cap Rate 7%

$357,657

Cap Rate 9%

$278,178

Alternative Uses

Best Use

Specialty Retail

$1.07M

$936.9K – $1.25M (±1% cap)

NOI $74,949 @ 7.0% cap · market cap 26.86%

Second Best

Hotel Hospitality

$357.7K

$313.0K – $417.3K (±1% cap)

NOI $25,036 @ 7.0% cap · market cap 8.97%

Theoretical Best

Office A

$1.71M

$1.50M – $2.00M (±1% cap)

NOI $120,031 @ 7.0% cap · market cap 43.02%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Hotels

Suggested Use

Top Pick Electrical Service Building Supply (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Auto Repair Shop Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

20

Businesses Nearby

Explore this area Business Placement

Demographics for 13308, NY

3,722

Population

2,026

Households

1.8

Avg Household Size

45

Median Age

23%

College-Educated

87%

High-School Grad

37.9 sq mi

ZIP Area

98

Density / Sq Mi

$86,072

Median Household Income

$49,832

Median Earnings

$1,040

Median Rent

$124,600

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Frequently Asked Questions

What type of property is this?

Hotel - Updated commercial building with a custom bar, four upstairs rooms, and substantial road exposure.

Where is this hotel located?

The property is located at 2805 State Route 49 Blossvale, NY.

What is the asking price?

The asking price for this property is $279,000.

What are key features of this property?

This property features: Approximately 2.5 acres; 582 feet of total road frontage; Corner location at State Route 49 and State Route 13