5059 State Highway 23Oneonta, NY 13820

Property Details for 5059 State Highway 23

Year built

1980

Lot size

1.12 AC

Property size (Sq ft)

5,910 SF

Zone code

1

Property type

Motels

APN

364600 300.00-3-95.00

APU

3646003000039500

Description

This exceptional 1-acre property, located at 5059 State Highway 23 in Oneonta, New York, presents a unique investment opportunity. Priced at $1,600,000, this expansive parcel offers significant potential for a variety of commercial ventures. The property's strategic location along State Highway 23 ensures high visibility and accessibility, making it ideal for businesses seeking strong exposure to a substantial traffic flow. The sheer size of the land provides ample space for development, allowing for flexibility in design and construction plans. Given its prime location and considerable acreage, this property is well-suited for a range of commercial uses, from retail establishments and restaurants to light industrial facilities or office spaces. The absence of existing structures allows for complete customization, enabling prospective buyers to create a development that perfectly aligns with their specific business needs and vision. This is a rare chance to acquire a significant piece of land in a thriving New York community, offering substantial potential for long-term growth and return on investment. Serious inquiries are encouraged to explore the possibilities this exceptional property presents. The property is categorized as "Other" in terms of property type, indicating its versatility and adaptability to diverse commercial applications. Further due diligence is recommended to fully assess the zoning regulations and development possibilities.

• CAP approach

  CAP return

  Valuation

  6%

  $1,667,557

  6.5%

  $1,539,284

  7%

  $1,429,335

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,826,869

  Geo Method

  $1,814,671

• Alternative Use

  Use

  Valuation

  Residential

  $1,680,451

  Hospitality

  $1,539,284

  Educational

  $1,280,666

  Medical

  $1,324,710

  Retail

  $1,992,147

Location Insight

City

Oneonta

County

Otsego

State

New York

Latitude

42.4493

Longitude

-75.0413

CBSA code

36580

CBSA name

ONEONTA, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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