Mixed-Use Property with Upgraded
For Sale
$495,000
373-375 Main Street, Oneonta, NY 13820
Commercial zoning supports first-floor business space alongside an upstairs apartment component.
Property Size3,264 SF
Days on Market64
Property Features for 373-375 Main Street
General Information
Standard status
Active
Size
3,264 SF
Total Parking Spaces
12
Property subtype
Commercial
Zoning
420, Commercial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$8,415
Building Details
Building Size
3,264 SF
Year Built
1915
Buildings
1
Stories
2
Listing Agency:
Keller Williams Upstate NY Properties
(607) 435-0567
Listed By:
Tim Mullinnex · License #10401341885
(607) 435-0567
Source:
Wcirealty
Added: Jun 17
Changed: Aug 14
Last Checked: Aug 18 at 12:10AM
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 Keller Williams Upstate NY Properties
Investment Insights
Based on property information with market context.
Built in 1915, this mixed-use property combines first-floor commercial areas with an upstairs apartment component. The building has four separate forced hot air furnaces, central air conditioning for the first-floor spaces, upgraded electrical service with four 100-amp panels, and a new side roof and garage door. Interior improvements include fresh paint, new carpeting, and original oak flooring beneath the carpet. Unit #3 received new kitchen and bathroom flooring in Spring 2026.
Located at 373-375 Main Street in downtown Oneonta, the property has direct Main Street exposure. Exterior work completed in September 2025 included scraping, priming, and two coats of paint. A five-foot white vinyl fence was installed in July 2023, while the 12-space parking lot was professionally sealed and striped in October 2024. The property is zoned 420, Commercial.
Located at 373-375 Main Street in downtown Oneonta, the property has direct Main Street exposure. Exterior work completed in September 2025 included scraping, priming, and two coats of paint. A five-foot white vinyl fence was installed in July 2023, while the 12-space parking lot was professionally sealed and striped in October 2024. The property is zoned 420, Commercial.
Key Highlights
- Mixed‑use building constructed in 1915 with first‑floor commercial areas and an upstairs apartment component
- Four separate forced hot air furnaces; central air conditioning serves first‑floor spaces
- Electrical improvements include four separate 100‑amp panels
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
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
178
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial zoning supports first-floor business space alongside an upstairs apartment component.
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: Mixed‑use building constructed in 1915 with first‑floor commercial areas and an upstairs apartment component; Four separate forced hot air furnaces; central air conditioning serves first‑floor spaces; Electrical improvements include four separate 100‑amp panels
