Turnkey Garage Near
For Sale
$410,000
6225 State Highway 28, Fly Creek, NY 13337
High-visibility commercial garage on a main route to Cooperstown.
Property Size2,790 SF
Days on Market127
Property Features for 6225 State Highway 28
General Information
Standard status
Active
Size
2,790 SF
Total Parking Spaces
10
Property subtype
Commercial
Zoning
1, Commercial
Taxes and HOA fees
Annual Taxes
$3,451
Building Details
Building Size
2,790 SF
Year Built
2016
Buildings
1
Stories
1
Listing Agency:
Howard Hanna
(315) 395-1849
Listed By:
Mary Jo Warner
(315) 395-1849
Source:
Northstarwny
Added: Apr 20
Changed: Aug 23
Last Checked: Aug 23 at 9:24AM
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 Howard Hanna
Investment Insights
Based on property information with market context.
Located on a prominent corner along New York State Route 28 in Fly Creek, this commercial garage benefits from high visibility on a main corridor leading directly into Cooperstown. The property is suitable for automotive, mechanical, or service-based businesses. The interior space is adaptable and can accommodate office, detailing, or various other commercial applications. The property experiences consistent local and seasonal traffic due to its location on a well-traveled route to Cooperstown. It features road frontage, paved parking, and room for expansion, offering both immediate functionality and long-term potential. This property is positioned to capitalize on its location, exposure, and flexibility, whether continuing its current use or adapting the space for future growth. The area has a walk score of 2, indicating car dependence, and a bike score of 17, suggesting it is somewhat bikeable.
Key Highlights
- Prime corner location on NYS Route 28, a main route into Cooperstown.
- Turnkey commercial garage suitable for automotive, mechanical, or service‑based businesses.
- Flexible interior space adaptable to office, detailing, or other commercial uses.
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
$26,942
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
6.57%
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%
$538,840
$538.8K
Cap Rate 7%
$384,886
$384.9K
Cap Rate 9%
$299,356
$299.4K
Market Conditions
NOI Build-Up for 2,790 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
$40.2K $14.40/SF
− Vacancy
−$1.7K −$0.60/SF
EGI
$38.5K $13.80/SF
− OpEx
−$11.5K −$4.14/SF
NOI
$26.9K $9.66/SF
Area
Otsego County, NY
Vacancy
4.20%
Lease Rate
$14.40 /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%
$538,840
Cap Rate 7%
$384,886
Cap Rate 9%
$299,356
Alternative Uses
Best Use
Retail
$384.9K
$336.8K – $449.0K
NOI $26,942 @ 7.0% cap · market cap 6.57%
Second Best
Industrial
$246.5K
$215.7K – $287.6K
NOI $17,255 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$769.1K
$673.0K – $897.3K
NOI $53,836 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
59
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13337, NY
686
Population
486
Households
1.4
Avg Household Size
55
Median Age
45%
College-Educated
92%
High-School Grad
16.8 sq mi
ZIP Area
41
Density / Sq Mi
$74,821
Median Household Income
$42,140
Median Earnings
$982
Median Rent
$287,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Auto shop - High-visibility commercial garage on a main route to Cooperstown.
Where is this auto shop located?
The property is located at 6225 State Highway 28 Fly Creek, NY.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Prime corner location on NYS Route 28, a main route into Cooperstown.; Turnkey commercial garage suitable for automotive, mechanical, or service‑based businesses.; Flexible interior space adaptable to office, detailing, or other commercial uses.
