187 Main StUnadilla, NY 13849

Property Details for 187 Main St

Year built

1879

Lot size

0.27 AC

Property size (Sq ft)

12,480 SF

Property type

Other commercial real estate

Property subtype

Showrooms

APN

366201 334.19-1-24.00

APU

3662013341912400

Description

This exceptional 10,145 square foot mixed-use building at 187 Main St, Unadilla, NY, presents a unique investment opportunity. Situated on a 0.27-acre lot, the property boasts four ground-floor commercial units, including a fully equipped former pizzeria. The pizzeria features two Blodgett stone pizza ovens, a Hobart dough mixer with attachments, a six-burner stove and hood, a walk-in cooler, triple wash sinks, and extensive stainless steel and refrigerated prep surfaces. Ample storage is available in the full basement, including a walk-in freezer and additional refrigeration. The pizzeria also includes tables, chairs, a large dining area, two public restrooms, and handicap accessibility. The remaining three ground-floor units offer excellent street frontage on Main Street. Upstairs, the second floor offers significant potential. With 20-foot ceilings, original wood floors, and large windows, this space features a bar and kitchen area, and multiple rooms adaptable for additional rental units or shops. The property includes parking spaces behind the building, plus convenient access to a large adjacent town parking lot. The first floor alone offers a potential capitalization rate exceeding 10% when fully leased, making the second floor a substantial bonus. This property is ideal for a savvy investor seeking strong cash flow and significant upside potential. The building's history and location offer a unique opportunity to contribute to the local community while generating substantial income. The asking price is $275,000.

• CAP approach

  CAP return

  Valuation

  6%

  $4,557,332

  6.5%

  $4,206,768

  7%

  $3,906,284

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,136,826

  Geo Method

  $4,109,205

• Alternative Use

  Use

  Valuation

  Residential

  $3,548,566

  Hospitality

  $3,250,467

  Educational

  $2,704,350

  Medical

  $2,797,357

  Retail

  $4,206,768

Location Insight

City

Unadilla

County

Otsego

State

New York

Latitude

42.3251

Longitude

-75.3162

CBSA code

36580

CBSA name

ONEONTA, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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