Freestanding Restaurant With
New
For Sale
$1,900,000
337 Chestnut Street, Oneonta, NY 13820
CommercialSale, Oneonta, NY
Property Size5,355 SF
Lot Size1.39 Acres
Price / SF$354.81
Days on Market2
Property Features for 337 Chestnut Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Parking
80
Lot features
Rectangular, Rectangular Lot
Elementary school district
Oneonta
Middle school district
Oneonta
High school district
Oneonta
Directions
From Main Street in Oneonta, turn onto Chestnut Street. Property is on the left at #337.
Subdivision
Oneonta-City-361200
Standard status
Active
APN
299.7-7-38
Size
5,355 SF
Lot size
1.39 Acres
Taxes and HOA fees
Tax Annual Amount
16069
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
double-sided gas fireplace
custom wooden partitions
POS terminals
stereo/speaker system
14-camera security system
two storage buildings
municipal water and sewer
natural gas
three-phase electric
two rooftop HVAC units
Building Details
Year built
1977
Floors in Building
1
Building materials
Block, SprayFoamInsulation
Roof type
Shingle, Asphalt
Listing Agency:
Keller Williams Upstate NY Properties · Keller Williams Realty
(607) 431-2540
Listed By:
David C. Brower · License #40BR1082970
(607) 435-4800
Added: Aug 23
Changed: Aug 24
Last Checked: Aug 24 at 11:06AM
MLS# R1709338
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 5,355-square-foot restaurant property sits on 1.39 acres and includes separate bar and main dining areas with seating for 204 guests. Interior features include a double-sided gas fireplace with custom stonework, custom wood partitions, POS terminals, and an integrated stereo and speaker system. The dedicated bar includes an eight-tap Micro-Matic kegerator, three-door beer cooler, mug chiller, televisions, and Quick Draw monitors.
The commercial kitchen is outfitted for substantial food service operations, with walk-in cold storage, electric smokers, commercial cooking equipment, fryers, ice production, worktop refrigeration, food warmers, steam wells, panini equipment, and fire-suppressed exhaust hoods. Additional improvements include two 10' x 16' storage buildings, approximately 80 paved parking spaces, municipal water and sewer, natural gas, three-phase electric, two rooftop Ruud HVAC units, and a 14-camera security system. Built in 1977, the property has block construction, spray foam insulation, central air, and an asphalt shingle roof.
The commercial kitchen is outfitted for substantial food service operations, with walk-in cold storage, electric smokers, commercial cooking equipment, fryers, ice production, worktop refrigeration, food warmers, steam wells, panini equipment, and fire-suppressed exhaust hoods. Additional improvements include two 10' x 16' storage buildings, approximately 80 paved parking spaces, municipal water and sewer, natural gas, three-phase electric, two rooftop Ruud HVAC units, and a 14-camera security system. Built in 1977, the property has block construction, spray foam insulation, central air, and an asphalt shingle roof.
Key Highlights
- 5,355‑square‑foot restaurant on 1.39 acres
- Seating capacity of 204 guests across separate dining and bar areas
- Approximately 80 paved parking spaces
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
$74,168
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
3.90%
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%
$1,483,360
$1.5M
Cap Rate 7%
$1,059,543
$1.1M
Cap Rate 9%
$824,089
$824.1K
Market Conditions
NOI Build-Up for 5,355 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
$101.5K $18.96/SF
− Vacancy
−$2.6K −$0.49/SF
EGI
$98.9K $18.47/SF
− OpEx
−$24.7K −$4.62/SF
NOI
$74.2K $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%
$1,483,360
Cap Rate 7%
$1,059,543
Cap Rate 9%
$824,089
Alternative Uses
Best Use
Specialty Retail
$1.06M
$927.1K – $1.24M
NOI $74,168 @ 7.0% cap · market cap 3.90%
Second Best
Industrial
$473.1K
$414.0K – $552.0K
NOI $33,119 @ 7.0% cap · market cap 1.74%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,330 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Utilities to site
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
315
Businesses Nearby
18k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 44%
Dunkin' Donuts
Dining
10,064 visits/mo
0.5 miles
Speedway
Shops & Services
6,832 visits/mo
0.5 miles
Napa Auto Parts
Shops & Services
1,225 visits/mo
0.5 miles
Dairy Queen
Dining
216 visits/mo
0.4 miles
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with separate dining and bar areas, commercial kitchen, and paved on-site parking.
Where is this conventional restaurant located?
The property is located at 337 Chestnut Street Oneonta, NY.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 5,355‑square‑foot restaurant on 1.39 acres; Seating capacity of 204 guests across separate dining and bar areas; Approximately 80 paved parking spaces
