Building Details

Building Size 6,507 SF

Year Built 1940

Stories 2

Listing Agency: e***@huntrealestate.com Show Phone

Listed By: Erica Laquidara Show Phone

Source: Elliman

Added: Apr 27 Changed: Aug 14 Last Checked: Aug 21 at 9:22AM

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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 Erica Laquidara

Investment Insights

Based on property information with market context.

Located on a prominent corner at Route 49 and Route 13 in Blossvale, the former Vienna Hotel is a 6,500 square foot, two-story building presenting a commercial opportunity. The property is set on approximately 2.5 acres and features 582 feet of total road frontage. Significant improvements have been completed, including major updates in 2015 and additional recent upgrades. The roof, siding, heat pumps, and many windows have been updated. The property will be cleared out for its next owner. The main level features a large custom bar, while the upstairs includes four former hotel rooms. Potential uses include a destination restaurant, craft cocktail bar, event venue, or a boutique-style retreat. The location is just minutes from the water.

Key Highlights

• Prime corner location at Route 49 and Route 13 with high visibility and 582 feet of road frontage.
• Substantial recent improvements including roof, siding, heat pumps, and many windows.
• Large 6,500 square foot two‑story building on approximately 2.5 acres.

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

$25,009

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

8.96%

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%

$500,180 $500.2K

Cap Rate 7%

$357,271 $357.3K

Cap Rate 9%

$277,878 $277.9K

Market Conditions

NOI Build-Up for 6,500 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

$117.0K $18.00/SF

− Vacancy

−$64.4K −$9.90/SF

EGI

$52.6K $8.10/SF

− OpEx

−$27.6K −$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 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%

$500,180

Cap Rate 7%

$357,271

Cap Rate 9%

$277,878

Alternative Uses

Best Use

Hotel Hospitality

$357.3K

$312.6K – $416.8K (±1% cap)

NOI $25,009 @ 7.0% cap · market cap 8.96%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.71M

$1.50M – $2.00M (±1% cap)

NOI $119,902 @ 7.0% cap · market cap 42.98%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

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.

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

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Hotel - Two-story, 6,500 SF building on 2.5 acres with frontage.

Where is this hotel located?

The property is located at 2805 State Route 49 Vienna, 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: Prime corner location at Route 49 and Route 13 with high visibility and 582 feet of road frontage.; Substantial recent improvements including roof, siding, heat pumps, and many windows.; Large 6,500 square foot two‑story building on approximately 2.5 acres.