Historic Rail Station For
For Sale
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58-60 Market St, Oneonta, NY 13820
Lovingly restored historic rail station suitable for retail or office.
Property Size8,000 SF
Price / SF$175
Days on Market976
Property Features for 58-60 Market St
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Retail
Building Details
Year Built
1892
Listing Agency:
EXP Commercial - Vega
(585) 735-7739
Listed By:
Michael Conroy · License #NY 10301218830
Source:
Crexi
Added: Dec 18, 2023
Changed: Jul 6
Last Checked: Aug 20 at 12:21PM
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 EXP Commercial - Vega
Investment Insights
Based on property information with market context.
This historic former rail station, dating back to circa 1892, has been restored to its original condition. The 8,000 square foot building is located steps away from the Foothills Performing Arts Center. It is equipped for retail, medical/professional, or service business opportunities. The building could also function as a three-store mini-mall with separate heating. All contents and equipment are negotiable for food establishment ideas. The restoration has blended historical charm with modern systems and conveniences. As an office or medical complex, the site offers views toward Main Street to the Clarion Hotel and is near a city park, banking, and other service and retail shops.
Key Highlights
- Historic former rail station (circa 1892) lovingly restored.
- Ideally equipped for retail, medical/professional, or service business.
- Proven location footsteps from Foothills Performing Arts Center.
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
$77,253
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
5.52%
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%
$1,545,060
$1.5M
Cap Rate 7%
$1,103,614
$1.1M
Cap Rate 9%
$858,367
$858.4K
Market Conditions
NOI Build-Up for 8,000 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
$115.2K $14.40/SF
− Vacancy
−$4.8K −$0.60/SF
EGI
$110.4K $13.80/SF
− OpEx
−$33.1K −$4.14/SF
NOI
$77.3K $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%
$1,545,060
Cap Rate 7%
$1,103,614
Cap Rate 9%
$858,367
Alternative Uses
Best Use
Retail
$1.10M
$965.7K – $1.29M
NOI $77,253 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.21M
$1.93M – $2.57M
NOI $154,368 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,183
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13820, NY
21,605
Population
10,083
Households
2.1
Avg Household Size
30
Median Age
40%
College-Educated
91%
High-School Grad
107.3 sq mi
ZIP Area
201
Density / Sq Mi
$66,217
Median Household Income
$26,154
Median Earnings
$983
Median Rent
$176,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Lovingly restored historic rail station suitable for retail or office.
Where is this storefront property located?
The property is located at 58-60 Market St Oneonta, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Historic former rail station (circa 1892) lovingly restored.; Ideally equipped for retail, medical/professional, or service business.; Proven location footsteps from Foothills Performing Arts Center.
