Mixed-Use Property with
For Sale
$495,000
373-375 Main Street, Oneonta, NY 13820
CommercialSale, Oneonta, NY
Property Size3,264 SF
Lot Size0.26 Acres
Price / SF$151.65
Days on Market93
Property Features for 373-375 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
420
Zoning description
Commercial
Rooms
Basement
Parking
12
Parking features
Paved or Surfaced
Accessibility
Accessible Approach with Ramp
Lot features
Rectangular, Rectangular Lot
Elementary school district
Oneonta
Middle school district
Oneonta
High school district
Oneonta
Directions
From I88 take exit 15 towards Main street, turn right onto Main St, Property on left, see sign.
Subdivision
Oneonta-City-361200
Standard status
Active
APN
361200-288-018-0006-016-000-0000
Size
3,264 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Annual Amount
8415
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1915
Floors in Building
2
Flooring type
Carpet, Varies, Vinyl, Hardwood, Linoleum
Building materials
Frame
Roof type
Rubber, Membrane
Listing Agency:
Keller Williams Upstate NY Properties · Keller Williams Realty
(607) 431-2540
Listed By:
Tim Mullinnex · License #10401341885
(607) 435-0567
Added: Jun 17
Changed: Sep 16
Last Checked: Sep 17 at 2:06PM
MLS# R1684290
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 3,264-square-foot mixed-use property at 373-375 Main Street occupies 0.26 acres and was built in 1915. The building includes first-floor commercial space and upstairs apartments, with original oak flooring beneath newer carpeting in portions of the interior. Unit #3 has updated kitchen and bathroom flooring identified for Spring 2026. Building systems include four separate forced-air furnaces, central air conditioning for the first-floor spaces, four 100-amp electrical panels, and upgraded first-floor electrical service.
Exterior improvements include a membrane roof, a newer side roof, a replacement garage door, and a 5-foot white vinyl fence installed in July 2023. The paved parking lot has 12 spaces and was sealed and striped in October 2024. The property also offers an accessible approach with ramp, public water and sewer, natural gas heat, and direct Main Street exposure in downtown Oneonta.
Exterior improvements include a membrane roof, a newer side roof, a replacement garage door, and a 5-foot white vinyl fence installed in July 2023. The paved parking lot has 12 spaces and was sealed and striped in October 2024. The property also offers an accessible approach with ramp, public water and sewer, natural gas heat, and direct Main Street exposure in downtown Oneonta.
Key Highlights
- 3,264‑square‑foot mixed‑use building on 0.26 acres
- Built in 1915 with first‑floor commercial space and upstairs apartments
- Four separate forced‑air furnaces and central air conditioning for first‑floor 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
$28,005
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
5.66%
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%
$560,100
$560.1K
Cap Rate 7%
$400,071
$400.1K
Cap Rate 9%
$311,167
$311.2K
Market Conditions
NOI Build-Up for 3,264 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
$50.9K $15.60/SF
− Vacancy
−$6.1K −$1.87/SF
EGI
$44.8K $13.73/SF
− OpEx
−$16.8K −$5.15/SF
NOI
$28.0K $8.58/SF
Area
Otsego County, NY
Vacancy
12.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$560,100
Cap Rate 7%
$400,071
Cap Rate 9%
$311,167
Alternative Uses
Best Use
Mixed Use
$400.1K
$350.1K – $466.8K
NOI $28,005 @ 7.0% cap · market cap 5.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$899.7K
$787.3K – $1.05M
NOI $62,982 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,051
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Main Street mixed-use building with separate residential and commercial spaces, upgraded systems, and paved on-site parking.
Where is this mixed-use property located?
The property is located at 373-375 Main Street Oneonta, NY.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 3,264‑square‑foot mixed‑use building on 0.26 acres; Built in 1915 with first‑floor commercial space and upstairs apartments; Four separate forced‑air furnaces and central air conditioning for first‑floor spaces
