58-60 Market StOneonta, NY 13820

Property Details for 58-60 Market St

Year built

1970

Lot size

0.41 AC

Property size (Sq ft)

5,106 SF

Zone code

352

Property type

Turn key restaurants

APN

361200 300.6-2-29

APU

3612003006229

Description

This exceptional 8,000-square-foot commercial property, located at 58-60 Market Street in Oneonta, New York, presents a unique investment opportunity. Originally constructed in 1892 as a former rail station, this building underwent a loving restoration in 1970, seamlessly blending historical charm with modern conveniences. Currently vacant, the property is zoned MU-1 and sits on a 0.41-acre lot (APN: 361200-300-006-0002-029-000-0000). The asking price is $1,400,000. Ideal for a variety of uses, including restaurant, retail, medical, or professional offices, the space even allows for a three-store mini-mall setup with separate heating systems. A full kitchen and bar are already in place, and the property boasts a new roof (2023) and a highly efficient mini-split HVAC system (2021). Its prime location offers excellent visibility, being just steps from the Foothills Performing Arts Center, Main Street's shopping corridor, a city park, banking facilities, and other retail establishments. The building's proximity to the Clarion Hotel further enhances its appeal. All existing contents and equipment are negotiable. This is a truly remarkable property with significant potential for a discerning buyer. The property's history and prime location make it an exceptional investment opportunity in the heart of Oneonta.

• CAP approach

  CAP return

  Valuation

  6%

  $1,864,562

  6.5%

  $1,721,134

  7%

  $1,598,196

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,692,518

  Geo Method

  $1,681,218

• Alternative Use

  Use

  Valuation

  Residential

  $1,451,841

  Hospitality

  $1,329,879

  Educational

  $1,106,443

  Medical

  $1,144,496

  Retail

  $1,721,134

Location Insight

City

Oneonta

County

Otsego

State

New York

Latitude

42.4527

Longitude

-75.0597

CBSA code

36580

CBSA name

ONEONTA, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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