Listing Agency: Benson Agency Real Estate LLC Show Phone

Listed By: Rodger B Moran · License #30MO0797197 Show Phone

Source: Nicholcityrealty

Added: Jul 25 Changed: Oct 8 Last Checked: Oct 14 at 11:01PM

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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.

This restaurant property includes the land, building, and equipment associated with the operation. The interior features exposed beams, a vaulted ceiling, and a 30-foot bar with a hostess station and secondary service area. A two-line commercial kitchen supports the dining operation, while the upper level provides over 600 sqft for seating, private parties, or gaming, including pool, ping-pong, and darts.

Outdoor dining is arranged on a covered L-shaped patio measuring 16 feet by 80 feet. A commercial overhead door can open the dining area to the patio during favorable weather. The group-oriented layout can serve up to three baseball teams at once in addition to regular patrons. The property is located at 4938 State Highway 28 in Hartwick, NY, less than 1 mile from Cooperstown Dreams Park.

Key Highlights

• Purpose‑built restaurant property with land, building, and equipment included
• Covered L‑shaped patio measures 16'X80'
• Upper‑level seating or gaming area exceeds 600 sqft

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$55,997

Cap Rate

6.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,119,940 $1.1M

Cap Rate 7%

$799,957 $800.0K

Cap Rate 9%

$622,189 $622.2K

Market Conditions

NOI Build-Up for 4,043 SF

Gross rent

$76.7K $18.96/SF

− Vacancy

−$2.0K −$0.49/SF

EGI

$74.7K $18.47/SF

− OpEx

−$18.7K −$4.62/SF

NOI

$56.0K $13.85/SF

Area

Otsego County, NY

Vacancy

2.60%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,119,940

Cap Rate 7%

$799,957

Cap Rate 9%

$622,189

Alternative Uses

Best Use

Specialty Retail

$800.0K

$700.0K – $933.3K (±1% cap)

NOI $55,997 @ 7.0% cap · market cap 6.12%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.11M

$975.2K – $1.30M (±1% cap)

NOI $78,014 @ 7.0% cap · market cap 8.53%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Building Supply Plumbing Service Storage Facility Bakery Furniture & Home Goods (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

77

Businesses Nearby

14k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Dollar General Shops & Services

8,466 visits/mo 0.3 miles

Citgo Shops & Services

3,831 visits/mo 0.4 miles

Napa Auto Parts Shops & Services

1,326 visits/mo 0.1 miles

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 Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Seasonal restaurant property with group-oriented dining, private-event space, gaming areas, and a two-line commercial kitchen.

Where is this conventional restaurant located?

The property is located at 4938 State Highway 28 Hartwick, NY.

What is the asking price?

The asking price for this property is $915,000.

What are key features of this property?

This property features: Purpose‑built restaurant property with land, building, and equipment included; Covered L‑shaped patio measures 16'X80'; Upper‑level seating or gaming area exceeds 600 sqft