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

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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