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    Mixed-Use Investment Opportunity in Fly Creek Title is generated by Realmo AI

    6208 State Highway 28, Fly Creek, NY 13337

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    Claim this Listing
    For Sale
    $850,000

    MULTI_FAMILY - Fly Creek, NY

    Property size:
    12,234 SF
    Lot size:
    2.06 Acres
    Price / SF:
    $69/SF
    Added:
    Mar 10, 2026
    Days on Market:
    67
    Last Refresh:
    May 15 at 2:06 am

    Property Features for 6208 State Highway 28

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 5, Basement, Bathroom 1, Bedroom 6, Bedroom 2, Bathroom 4, Bedroom 4, Bedroom 1
    Parking features
    On Street
    Exterior features
    PropaneTankLeased
    Appliances
    PropaneWaterHeater
    Standard status
    Active
    APN
    365089-114-005-0001-037-000-0000
    Size
    12,234 SF
    Lot size
    2.06 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Propane (Heating), Forced Air
    Cooling system
    Central Air
    Water source
    Well

    Building Details

    Year built
    1970
    Floors in Building
    3
    Number of units
    4
    Flooring type
    Hardwood, Linoleum, Vinyl, Varies
    Building materials
    VinylSiding
    Roof type
    Flat, Shingle, Asphalt

    We can help!

    Listing Contact
    Brandon Mosher
    Brandon Mosher

    Listing agent Brandon Mosher License #10301224028

    Listing office River Hills Properties LLC Lf 525 Albany St., barneveld, NY

    Listing date Mar 10, 2026

    MLS# S1666125 Listing URL

    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.

    HighLights

    • Multiple Income Streams: Featuring two commercial spaces and four residential rental units.
    • Business‑Ready Restaurant: Fully equipped with dining room, professional kitchen, handcrafted bar, and outdoor deck.
    • Prime Location: Highly visible corner property in the heart of Fly Creek, minutes from Cooperstown.
    • Updated Residential Units: Four well‑maintained apartments with updated kitchens and baths and private entrances.
    • Additional Commercial Space: Second storefront offers flexible layout suitable for various uses.
    • Updated Mechanical Systems and Ample Parking: Ensuring smooth operation and convenience.

    Overview

    Located in Fly Creek, NY, this mixed-use property offers a blend of small-town charm and business potential. Situated minutes from Cooperstown and the Fly Creek Cider Mill, the corner property features two commercial spaces and four residential rental units. The anchor commercial space is configured as a fully equipped restaurant and bar, featuring a dining room with tall ceilings, hardwood floors, and large windows. It includes a professional kitchen, handcrafted bar, and outdoor deck. The restaurant space is suited for an operator to bring their concept to life. Adjacent to the restaurant is a commercial storefront currently operating as a consignment shop, suitable for retail, office, gallery, or studio use. Upstairs, four residential apartments feature updated kitchens and baths, living areas, and private entrances. The property includes ample parking, updated mechanical systems, and a restored exterior. The property also features scenic rear views and a lot with open green space. The property size is 12234 square feet and the lot size is 2.06 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Dental Office Gym & Fitness Center Hotel & Motel Department Store Clothing & Fashion Store Wine and Liquor Store Bed & Breakfast

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fly Creek
    County
    Otsego
    State
    New York
    Longitude
    -74.982162
    Latitude
    42.718785

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with commercial spaces and residential units near Cooperstown.
    Where is this mixed-use property located?
    The property is located at 6208 State Highway 28 Fly Creek, NY.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: Multiple Income Streams: Featuring two commercial spaces and four residential rental units.; Business‑Ready Restaurant: Fully equipped with dining room, professional kitchen, handcrafted bar, and outdoor deck.; Prime Location: Highly visible corner property in the heart of Fly Creek, minutes from Cooperstown.
    (315) 868-4596
    We can help!
    Listing Contact
    Brandon Mosher
    Brandon Mosher
    Real Estate License ID: 10301224028
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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