Renovated Post-and-Beam Flex
New
For Sale
$529,000
467 County Highway 26, Otsego, NY 13326
Level acreage with offices, workshop improvements, and a local variance for service trade use.
Property Size4,080 SF
Lot Size18.00 Acres
Days on Market4
Property Features for 467 County Highway 26
General Information
Standard status
Active
Size
4,080 SF
Lot size
18.00 Acres
Property subtype
Commercial
Zoning
RA-2
Additional Details
Road Access
Yes
Power
200 amps
Taxes and HOA fees
Annual Taxes
$4,412
Building Details
Building Size
4,080 SF
Year Built
2004
Buildings
2
Stories
2
Construction
post-and-beam
Listing Agency:
Keller Williams Upstate New York Properties
(607) 435-9413
Listed By:
Robin M. Aufmuth · License #10401362667
(607) 435-9413
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 6:12AM
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 New York Properties
Investment Insights
Based on property information with market context.
This flex property includes an 18+ acre parcel with level, usable land and a renovated 4,000± square-foot, two-story post-and-beam barn. The building features exposed timber framing, high ceilings, radiant in-floor heat, a wood stove, full insulation, a metal roof, updated 200-amp electrical service, and phone and internet connectivity. Interior improvements include three private offices, two bathrooms, and a break room/kitchenette. A separate 40' x 20' machine shop provides additional storage or workspace.
The property is located at 467 County Highway 26, approximately 2 miles from the heart of historic Cooperstown and minutes from Cooperstown Dreams Park. It offers approximately 1,256 feet of road frontage, scenic views toward Oaks Creek, and placement within the Cooperstown School District. Zoning is RA-2 (Residential/Agriculture 2), with a local variance for a service trade establishment.
The property is located at 467 County Highway 26, approximately 2 miles from the heart of historic Cooperstown and minutes from Cooperstown Dreams Park. It offers approximately 1,256 feet of road frontage, scenic views toward Oaks Creek, and placement within the Cooperstown School District. Zoning is RA-2 (Residential/Agriculture 2), with a local variance for a service trade establishment.
Key Highlights
- 18+ acres with approximately 1,256 feet of road frontage
- Renovated 4,000± square‑foot, two‑story post‑and‑beam barn
- Three private offices, two bathrooms, and a break room/kitchenette
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
$25,234
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
4.77%
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%
$504,680
$504.7K
Cap Rate 7%
$360,486
$360.5K
Cap Rate 9%
$280,378
$280.4K
Market Conditions
NOI Build-Up for 4,080 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
$38.7K $9.48/SF
− Vacancy
−$2.6K −$0.64/SF
EGI
$36.0K $8.84/SF
− OpEx
−$10.8K −$2.65/SF
NOI
$25.2K $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 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%
$504,680
Cap Rate 7%
$360,486
Cap Rate 9%
$280,378
Alternative Uses
Best Use
Office B
$736.5K
$644.4K – $859.3K
NOI $51,555 @ 7.0% cap · market cap 9.75%
Second Best
Warehouse
$709.7K
$621.0K – $828.0K
NOI $49,679 @ 7.0% cap · market cap 9.39%
Theoretical Best
Office A
$1.12M
$984.1K – $1.31M
NOI $78,728 @ 7.0% cap · market cap 14.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13326, NY
4,893
Population
2,724
Households
1.8
Avg Household Size
51
Median Age
48%
College-Educated
96%
High-School Grad
92.1 sq mi
ZIP Area
53
Density / Sq Mi
$70,977
Median Household Income
$33,740
Median Earnings
$1,120
Median Rent
$308,600
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?
Flex space - Level acreage with offices, workshop improvements, and a local variance for service trade use.
Where is this flex space located?
The property is located at 467 County Highway 26 Otsego, NY.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: 18+ acres with approximately 1,256 feet of road frontage; Renovated 4,000± square‑foot, two‑story post‑and‑beam barn; Three private offices, two bathrooms, and a break room/kitchenette
