Restaurant Space For
For Sale
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748 State Highway 28, Oneonta, NY 13820
5,500 SF restaurant in Oneonta's Southside retail area.
Property Size5,500 SF
Price / SF$363.64
Days on Market966
Property Features for 748 State Highway 28
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Retail
Zoning
Commercial
Building Details
Buildings
2
Stories
2
Listing Agency:
Vanguard-Fine LLC
(518) 862-0861
Listed By:
Ben Feinman · License #2298690
Source:
Crexi
Added: Dec 28, 2023
Changed: Aug 19
Last Checked: Aug 19 at 8:01PM
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 Vanguard-Fine LLC
Investment Insights
Based on property information with market context.
A 5,500 SF restaurant is available for sale in the Southside area of Oneonta. The property benefits from high visibility and a commanding presence on the main retail thoroughfare. It features a large parking area. The property is located on NYS Route 28, in front of BJ's Wholesale Warehouse, in the heart of the retail district in Oneonta, NY. The property may be suitable for a beverage center or marijuana dispensary.
Key Highlights
- High visibility location on the main retail drag in the Southside of Oneonta.
- Large parking area.
- Ideal for a beverage center or marijuana dispensary.
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
$76,177
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
3.81%
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%
$1,523,540
$1.5M
Cap Rate 7%
$1,088,243
$1.1M
Cap Rate 9%
$846,411
$846.4K
Market Conditions
NOI Build-Up for 5,500 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
$104.3K $18.96/SF
− Vacancy
−$2.7K −$0.49/SF
EGI
$101.6K $18.47/SF
− OpEx
−$25.4K −$4.62/SF
NOI
$76.2K $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 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%
$1,523,540
Cap Rate 7%
$1,088,243
Cap Rate 9%
$846,411
Alternative Uses
Best Use
Specialty Retail
$1.09M
$952.2K – $1.27M
NOI $76,177 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,128 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
Well-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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Similar Off Market Nearby
- Moe's Southwest Grill — 5001 NY-23, Oneonta, NY 13820
- Sweet Peach Smokehouse LLC — 114 S Side Dr, Oneonta, NY 13820
Frequently Asked Questions
What type of property is this?
Restaurant - 5,500 SF restaurant in Oneonta's Southside retail area.
Where is this restaurant located?
The property is located at 748 State Highway 28 Oneonta, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: High visibility location on the main retail drag in the Southside of Oneonta.; Large parking area.; Ideal for a beverage center or marijuana dispensary.
