Former Cheese Manufacturing
For Sale
$599,900
3941 State Highway 28, Milford, NY 13807
Built in 2000 on a corner lot with multiple walk-in coolers and finished retail space suited for food-focused operators.
Property Size8,000 SF
Lot Size2.96 Acres
Price / SF$74.99
Days on Market52
Property Features for 3941 State Highway 28
General Information
Standard status
Active
Size
8,000 SF
Lot size
2.96 Acres
Property subtype
Commercial
Building Details
Year Built
2000
Listing Agency:
BENSON AGENCY REAL ESTATE LLC
(607) 432-4391
Listed By:
Lance Thomas · License #30MO0797197
(607) 432-4391
Source:
Elliman
Added: Jun 12
Changed: Jul 10
Last Checked: Aug 2 at 12:40PM
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 BENSON AGENCY REAL ESTATE LLC
Investment Insights
Based on property information with market context.
Former cheese manufacturing facility with approximately 8,000 square feet built in 2000, situated on 2.96 acres on a corner lot. The property includes three walk-in coolers, including a 25x28 walk-in, plus a finished retail area constructed with rustic knotty pine. The retail area has 9 door and 2 door coolers in place, and it currently includes a short-term lease tenant. Equipment remnants from the former operation, including a 500-gallon stainless evaporator and pasteurizer, are on-site and may be repurposed. Two heating systems are present: an oil-fired hot water boiler with radiant heat and a steam boiler. A second-floor loft space could become living space subject to local code requirements.
The facility is positioned on the prime gateway to Cooperstown Dreams Park and the National Baseball Hall of Fame, with access suited to a busy summertime visitor flow.
This property may fit buyers and tenants looking to revive an existing food-processing facility or pivot to light manufacturing on-site with a retail component. For operators, the combination of multiple refrigerated spaces, existing finished retail build-out, and practical on-site mechanicals can support food-service and related uses, subject to applicable approvals and code requirements.
The facility is positioned on the prime gateway to Cooperstown Dreams Park and the National Baseball Hall of Fame, with access suited to a busy summertime visitor flow.
This property may fit buyers and tenants looking to revive an existing food-processing facility or pivot to light manufacturing on-site with a retail component. For operators, the combination of multiple refrigerated spaces, existing finished retail build-out, and practical on-site mechanicals can support food-service and related uses, subject to applicable approvals and code requirements.
Key Highlights
- Former cheese manufacturing facility built in 2000, offering 8,000+ sqft of on‑site space on 2.96 acres
- Three walk‑in coolers, including a 25x28 walk‑in cooler
- Finished retail area with rustic knotty pine and 9 door coolers plus 2 door coolers (in place)
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $75.8k | $9.48 |
| − Vacancy | −$5.2k | −$0.64 |
| EGI | $70.7k | $8.84 |
| − OpEx | −$21.2k | −$2.65 |
| NOI | $49.5k | $6.18 |
8,000 SF · lease $9.48/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.10M
$965.7K – $1.29M
NOI $77,253 @ 7.0% cap · market cap 12.88%
Second Best
Industrial
$706.8K
$618.5K – $824.6K
NOI $49,478 @ 7.0% cap · market cap 8.25%
Theoretical Best
Office A
$2.21M
$1.93M – $2.57M
NOI $154,368 @ 7.0% cap · market cap 25.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 13807, NY
1,061
Population
719
Households
1.5
Avg Household Size
51
Median Age
35%
College-Educated
91%
High-School Grad
21.5 sq mi
ZIP Area
49
Density / Sq Mi
$86,250
Median Household Income
$34,047
Median Earnings
$838
Median Rent
$167,600
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Built in 2000 on a corner lot with multiple walk-in coolers and finished retail space suited for food-focused operators.
Where is this manufacturing property located?
The property is located at 3941 State Highway 28 Milford, NY.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Former cheese manufacturing facility built in 2000, offering 8,000+ sqft of on‑site space on 2.96 acres; Three walk‑in coolers, including a 25x28 walk‑in cooler; Finished retail area with rustic knotty pine and 9 door coolers plus 2 door coolers (in place)
