Mixed-Use Building with Central
For Sale
$495,000
373-375 Main Street, Oneonta, NY 13820
COMMERCIAL - Oneonta, NY
Property Size3,264 SF
Lot Size0.26 Acres
Price / SF$151.65
Days on Market51
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
Linoleum, Vinyl, Varies, Carpet, Hardwood
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: Aug 4
Last Checked: Aug 6 at 12:06PM
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.
373-375 Main Street in Oneonta is a frame mixed-use property built in 1915 on a 0.26-acre lot, totaling 3,264 square feet. The building is served by natural gas forced-air heating and central air conditioning for the first-floor spaces, with updated HVAC that includes four separate forced hot air furnaces. An upgraded exterior was completed with a freshly scraped, primed, and painted treatment (two coats) in September 2025.
Electrical and exterior improvements include upgraded first-floor electric with four separate 100-amp electric panels, a new side roof, and a new garage door. A professionally sealed and striped parking lot with 12 spaces was completed in October 2024, and a 5-ft tall white vinyl fence was professionally installed in July 2023. Accessibility is supported with an accessible approach with a ramp.
Additional interior work includes new flooring in the kitchen and bathroom of unit #3 upstairs apartment scheduled for spring 2026, along with freshly painted interiors, new carpeting throughout with original oak floors underneath, and other interior updates.
Electrical and exterior improvements include upgraded first-floor electric with four separate 100-amp electric panels, a new side roof, and a new garage door. A professionally sealed and striped parking lot with 12 spaces was completed in October 2024, and a 5-ft tall white vinyl fence was professionally installed in July 2023. Accessibility is supported with an accessible approach with a ramp.
Additional interior work includes new flooring in the kitchen and bathroom of unit #3 upstairs apartment scheduled for spring 2026, along with freshly painted interiors, new carpeting throughout with original oak floors underneath, and other interior updates.
Key Highlights
- Built in 1915, frame mixed‑use building on a 0.26‑acre lot (3,264 SF)
- HVAC updates: four separate forced hot air furnaces and central air for first‑floor spaces
- Exterior work: scraped, primed, and painted with two coats in September 2025
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
$41,244
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
8.33%
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%
$824,880
$824.9K
Cap Rate 7%
$589,200
$589.2K
Cap Rate 9%
$458,267
$458.3K
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
$70.5K $21.60/SF
− Vacancy
−$15.5K −$4.75/SF
EGI
$55.0K $16.85/SF
− OpEx
−$13.7K −$4.21/SF
NOI
$41.2K $12.64/SF
Area
Otsego County, NY
Vacancy
22.00%
Lease Rate
$21.60 /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%
$824,880
Cap Rate 7%
$589,200
Cap Rate 9%
$458,267
Alternative Uses
Best Use
Office B
$589.2K
$515.6K – $687.4K
NOI $41,244 @ 7.0% cap · market cap 8.33%
Second Best
Mixed Use
$400.1K
$350.1K – $466.8K
NOI $28,005 @ 7.0% cap · market cap 5.66%
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
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Frame mixed-use building featuring central air, natural gas forced-air heating, and paved parking with accessible ramp access.
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: Built in 1915, frame mixed‑use building on a 0.26‑acre lot (3,264 SF); HVAC updates: four separate forced hot air furnaces and central air for first‑floor spaces; Exterior work: scraped, primed, and painted with two coats in September 2025
