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    704 Utica Street Oriskany, NY 13424

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    For Sale
    $229,000

    COMMERCIAL - Oriskany, NY

    Property size:
    4,332 SF
    Lot size:
    0.02 Acres
    Price / SF:
    $52/SF
    Added:
    May 5, 2025
    Days on Market:
    368
    Last Refresh:
    May 7 at 6:06 am

    Property Features for 704 Utica Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    01
    Parking
    2
    Parking features
    Paved or Surfaced, Offsite
    Standard status
    Active
    APN
    307001-276-018-0002-045-002-0000
    Size
    4,332 SF
    Lot size
    0.02 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3859

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating), Baseboard, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1949
    Floors in Building
    2
    Flooring type
    Vinyl, Concrete, Linoleum
    Building materials
    BlownInInsulation
    Roof type
    Rubber, Membrane

    We can help!

    Listing Contact
    Robin Mongeau
    Robin Mongeau

    Listing agent Robin Mongeau License #10491202123

    Listing office River Hills Properties LLC Barn 8211 State Route 12, barneveld, NY

    Listing date May 5, 2025

    MLS# S1604386

    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

    • Operating laundromat business included, offering immediate income.
    • Renovated multi‑use property with major improvements since 2020, including a new roof (2021) and updated utilities.
    • Second‑level 2‑bedroom apartment provides a steady rental income stream with an existing lease until December (rent $1250/month).
    • Prime location on the busiest street in Oriskany, offering direct frontage and high visibility.
    • Includes all laundromat equipment and apartment appliances.
    • Private parking available for tenants.

    Overview

    Renovated Multi-Use Oriskany Property

    This renovated multi-use property is located in the Village of Oriskany on Utica Street. The property has undergone major renovations and improvements since 2020. The second level features a 2-bedroom apartment with a lease in place until December, generating a monthly rent of $1250. Private parking is available for tenants. Appliances are included. The property has access to public water, sewer, gas, and high-speed internet. The main level is an operating laundromat, which has been overhauled by the seller. Existing washers, dryers, vending machines, a change machine, and various accessories will convey with the sale. A bathroom and additional work room adjoin the main public laundry space. Major improvements include a rubber roof installed in 2021, a boiler that is 6 years old, blown-in insulation, some new windows, and new concrete poured to manufacturers' specifications to accommodate washer equipment. Cosmetic features include ceiling install, electric service rebuild, plumbing and gas redo, and a new hot water heater. The property size is 4332 square feet and the lot size is 0.0199 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Travelers Insurance Insurance Agency Momentum Therapy LLC Alternative Medicine Practice King's Party Planning ... Event Planning

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center Food Market Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Oriskany
    County
    Oneida
    State
    New York
    Longitude
    -75.332787
    Latitude
    43.15756

    FAQs

    What type of property is this?
    Storefront property - Renovated multi-use property with laundromat and apartment.
    Where is this storefront property located?
    The property is located at 704 Utica Street Oriskany, NY.
    What is the asking price?
    The asking price for this property is $229,000.
    What are key features of this property?
    This property features: Operating laundromat business included, offering immediate income.; Renovated multi‑use property with major improvements since 2020, including a new roof (2021) and updated utilities.; Second‑level 2‑bedroom apartment provides a steady rental income stream with an existing lease until December (rent $1250/month).
    (315) 868-6719
    We can help!
    Listing Contact
    Robin Mongeau
    Robin Mongeau
    Real Estate License ID: 10491202123
    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.

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