Manufacturing Facility with Retail
For Sale
$599,900
3941 State Highway 28, Milford, NY 13807
CommercialSale, Milford, NY
Property Size8,612 SF
Lot Size2.96 Acres
Price / SF$69.66
Days on Market146
Property Features for 3941 State Highway 28
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
710 Manuf
Zoning description
Light Industrial
Parking
35
Parking features
Driveway
Lot features
Irregular Lot
Elementary school district
Milford
Middle school district
Milford
High school district
Milford
Directions
I88 to State Rout 28 N toward Cooperstown. Through Village of Milford, property on left just outside village.
Subdivision
Milford-364089
Standard status
Active
APN
194.00-2-44.02
Size
8,612 SF
Lot size
2.96 Acres
Site & Location
Corner Location
Yes
Mixed-Use Components
manufacturing, retail
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
14144
Utilities
Sewer type
Septic Tank
Heating system
Oil, Steam, Radiant
Building Details
Year built
2000
Floors in Building
1
Flooring type
Concrete
Building materials
Frame
Roof type
Metal
Listing Agency:
Benson Agency Real Estate LLC
(607) 432-4391
Listed By:
Rodger B Moran · License #30MO0797197
(607) 287-1559
Added: Jun 8
Changed: Oct 30
Last Checked: Oct 31 at 6:06AM
MLS# R1688947
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.
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Investment Insights
Based on property information with market context.
Built in 2000, this 8,612-square-foot frame facility occupies 2.96 acres at a corner location. The property includes concrete flooring, three walk-in coolers, a finished retail area with rustic knotty pine, and existing 9-door and 2-door coolers. Remnants of production equipment include a 500-gallon stainless evaporator and pasteurizer. Heating is provided by an oil-fired hot-water boiler with radiant heat and a separate steam boiler. A second-floor loft offers additional space subject to local code requirements.
The property is zoned 710 Manuf and served by a septic tank. It fronts State Highway 28 at 3941 State Highway 28 in Milford, with the site positioned near Cooperstown Dreams Park and the National Baseball Hall of Fame. A retail-area tenant occupies the property under a short-term lease. The existing layout and equipment support continued manufacturing use, with retail space already in place.
The property is zoned 710 Manuf and served by a septic tank. It fronts State Highway 28 at 3941 State Highway 28 in Milford, with the site positioned near Cooperstown Dreams Park and the National Baseball Hall of Fame. A retail-area tenant occupies the property under a short-term lease. The existing layout and equipment support continued manufacturing use, with retail space already in place.
Key Highlights
- 2.96‑acre corner property with an 8,612‑square‑foot facility
- 710 Manuf zoning with manufacturing and retail components
- Three walk‑in coolers, including one measuring 25x28
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,263
Cap Rate
8.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,065,260
$1.1M
Cap Rate 7%
$760,900
$760.9K
Cap Rate 9%
$591,811
$591.8K
Market Conditions
NOI Build-Up for 8,612 SF
Gross rent
$81.6K $9.48/SF
− Vacancy
−$5.6K −$0.64/SF
EGI
$76.1K $8.84/SF
− OpEx
−$22.8K −$2.65/SF
NOI
$53.3K $6.18/SF
Area
Otsego County, NY
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,065,260
Cap Rate 7%
$760,900
Cap Rate 9%
$591,811
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.39M
NOI $83,163 @ 7.0% cap · market cap 13.86%
Second Best
Industrial
$760.9K
$665.8K – $887.7K
NOI $53,263 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$2.37M
$2.08M – $2.77M
NOI $166,177 @ 7.0% cap · market cap 27.70%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
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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
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Manufacturing property - Manufacturing-zoned facility with production infrastructure, walk-in coolers, and a finished customer-facing area.
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: 2.96‑acre corner property with an 8,612‑square‑foot facility; 710 Manuf zoning with manufacturing and retail components; Three walk‑in coolers, including one measuring 25x28
