Restored Mixed-Use
3035 State Route 28, Old Forge, NY 13420
For Sale
$959,000
Retail operations, residential components, and upgraded building systems support flexible commercial use.
Property Size6,063 SF
Price / SF$158.17
Days on Market97
Property Features for 3035 State Route 28
General Information
Standard status
Size
Additional Details
Business Included
Sprinkler System
Amenities
radiant heat
sprinkler system
whole-building generator
spray foam insulation
original wood floors
exposed beams
kitchen
laundry
full dry basement
fenced backyard
detached 1.5-stall garage
Listing Agency:
Herron Realty
(315) 369-6910
Listed By:
Kathleen Rivet
(315) 369-8839
Source:
Nicholcityrealty
Added: Aug 10
Changed: Nov 12
Last Checked: Nov 12 at 7:04AM
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 Herron Realty
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Investment Insights
Based on property information with market context.
Built in 1920, this mixed-use property contains over 6,000 square feet of restored space and currently supports a retail business. Original wood floors and exposed beams remain, while radiant heat, spray foam insulation, a sprinkler system, and a whole-building generator provide updated building infrastructure. The property also includes a full dry basement, fenced backyard, and detached 1.5-stall garage.
Residential components include a second-floor apartment with its own kitchen and laundry, along with a third-floor owner's residence. Positioned at 3035 State Route 28 in Old Forge, the property is in the center of the community's shopping district and benefits from year-round visitor activity. WalkScore is 52 and BikeScore is 49.
Residential components include a second-floor apartment with its own kitchen and laundry, along with a third-floor owner's residence. Positioned at 3035 State Route 28 in Old Forge, the property is in the center of the community's shopping district and benefits from year-round visitor activity. WalkScore is 52 and BikeScore is 49.
Key Highlights
- Over 6,000 square feet of restored mixed‑use space
- Currently operating retail business with residential components
- Second‑floor apartment includes kitchen and laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,388
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,227,760
$1.2M
Cap Rate 7%
$876,971
$877.0K
Cap Rate 9%
$682,089
$682.1K
Market Conditions
NOI Build-Up for 6,063 SF
Gross rent
$109.1K $18.00/SF
− Vacancy
−$10.9K −$1.80/SF
EGI
$98.2K $16.20/SF
− OpEx
−$36.8K −$6.07/SF
NOI
$61.4K $10.13/SF
Area
Herkimer County, NY
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,227,760
Cap Rate 7%
$876,971
Cap Rate 9%
$682,089
Alternative Uses
Best Use
Retail
$1.42M
$1.24M – $1.65M
NOI $99,210 @ 7.0% cap · market cap 10.35%
Second Best
Mixed Use
$877.0K
$767.4K – $1.02M
NOI $61,388 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$1.80M
$1.58M – $2.11M
NOI $126,325 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
268
Businesses Nearby
Explore this area
Business Placement
Demographics for 13420, NY
1,263
Population
2,441
Households
0.5
Avg Household Size
55
Median Age
62%
College-Educated
91%
High-School Grad
148.2 sq mi
ZIP Area
9
Density / Sq Mi
$107,770
Median Household Income
$47,346
Median Earnings
$348,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail operations, residential components, and upgraded building systems support flexible commercial use.
Where is this mixed-use property located?
The property is located at 3035 State Route 28 Old Forge, NY.
What is the asking price?
The asking price for this property is $959,000.
What are key features of this property?
This property features: Over 6,000 square feet of restored mixed‑use space; Currently operating retail business with residential components; Second‑floor apartment includes kitchen and laundry
