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    212 Main St Otego, NY 13825

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    212 Main St Otego, NY 13825

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    • Turn key restaurants
    • 5,392 SF
    • 1.30 lot acres
    For Sale
    $295,000
    View Listing →
    Restaurant and Residential Income Opportunity For Sale
    $295,000
    10,784 SF

    Restaurant and Residential Income Opportunity

    Restaurant with rental units on 3.6 acres near Interstate.

    212 Main Street, Otego, NY 13825
    View Listing
    Property ID
    US63-4335859
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 212 Main St

    Year built
    1975
    Lot size
    1.30 lot acres
    Property size
    5,392 SF
    Property type
    Turn key restaurants
    APN
    364801 317.19-1-64.00
    APU
    3648013171916400

    Description

    This exceptional commercial property in Otego, NY, presents a unique investment opportunity. Located at 212 Main St, this 10,784 square foot building sits on a sizable 3.6-acre lot, offering unparalleled visibility from Interstate 88 and NY-7. The property boasts a substantial restaurant space, totaling 8,133 square feet (5,179 square feet above grade and 2,954 square feet below grade, including walk-in coolers and prep areas). This expansive area is ready for immediate occupancy, complete with existing restaurant equipment. Adding to the investment potential are three income-generating residential apartments, measuring 635, 740, and 1,276 square feet respectively. The total above-grade building square footage is 7,830 square feet, with an additional 2,954 square feet below grade. The property features ample parking and convenient access, along with village water service. The building, estimated to be from 1975, is situated on two combined lots totaling 3.6 acres. This versatile property offers the potential for continued restaurant operation or creative adaptation for a variety of business uses, making it an exceptional opportunity in central New York.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Otego
    County
    Otsego
    State
    New York
    Longitude
    -75.1823
    Latitude
    42.3906
    CBSA code
    36580
    CBSA name
    ONEONTA, NY MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $38,000
    $243,700
    $281,700
    -
    $40,860
    $262,043
    $302,903

    Comparable in this City

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      1,240 SF

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    • Value Estimation by Request
      960 SF

      3567 State Hwy 7th 7

      DRIVE-THRU RESTAURANT, FAST FOOD • 960 SF
      3567 State Hwy 7th 7, Otego, NY 13825-3213
      View Details
    • Value Estimation by Request
      1,216 SF

      1120 County Hwy 5th 5

      FINANCIAL BUILDING • 1,216 SF
      1120 County Hwy 5th 5, Otego, NY 13825-2103
      View Details
    • Value Estimation
      $510,000
      5,005 SF

      195 County Hwy 48

      SERVICE STATION WITH FOOD MART • 5,005 SF
      195 County Hwy 48, Otego, NY 13825
      View Details
    • Value Estimation by Request
      2,408 SF

      3777 State Hwy 7th 7

      AUTO REPAIR, GARAGE • 2,408 SF
      3777 State Hwy 7th 7, Otego, NY 13825-3211
      View Details
    • Value Estimation by Request
      4,040 SF

      337 County Hwy 48

      AUTO REPAIR, GARAGE • 4,040 SF
      337 County Hwy 48, Otego, NY 13825
      View Details

    Similar Nearby for Sale

    • $295,000
      7,830 SF

      Restaurant and Income Property Opportunity

      Restaurant with rental income potential on 3.6 acres.
      212 Main St, Otego, NY 13825
      View Details
    • $295,000
      10,784 SF

      Restaurant and Residential Income Opportunity

      Restaurant with rental units on 3.6 acres near Interstate.
      212 Main St, Otego, NY 13825
      View Details
    • New
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      0.39 Acres

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      Desirable 0.39 acre building lot in Otego, NY.
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    View Listing
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    212 Main St
    Otego, NY 13825
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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.

    More about this property
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