• Broker Constantine Gavalas 9175123480
6208 Hwy 28 food corp

Rental Property and Restaurant 6202-6208 State Highway 28 22,000 SF 100% Leased Retail Building Fly Creek, NY 13337 £712,813 (£32.40/SF) 4.42% Net Initial Yield

View Photo

INVESTMENT HIGHLIGHTS

  • Recently renovated corner building in high traffic area with on-site Parking. Minutes away from Cooperstown Dreams Park and Bassett Hospital.
  • Includes 4 residential apartments (2 one-bedroom apartments, 2 two-bedroom apartments)
  • Renovated Basement for storage or office space.
  • Fully equipped and renovated Bar and Restaurant. Turn-key operation! Best cocktails and beverage selection between Albany and Utica!
  • Includes 1 retail store approximately 800sq feet
  • Second floor of restaurant can be used as Event space or rented for additional income.

EXECUTIVE SUMMARY

Operating bar & restaurant plus an additional four income producing apartment rentals and another retail store, on 2.7 acre lot.
Located in a high traffic area in beautiful Fly Creek, NY, just minutes away from Baseball Dreams Park and the Baseball Hall of Fame in Cooperstown, NY and many other attractions (Lake Otsego, Glimmerglass Opera, Golf, farms etc.) and also minutes away from the Bassett hospital.
The building has on site parking and has benefited from recent upgrades, such as new roof, new boiler, new paint and apartment renovations.
Wonderful opportunity for chefs/restaurateurs that want to own their restaurant and have the rents pay the mortgage while enjoying the beauty of Fly Creek and everything this lovely town in Otsego county has to offer!

PROPERTY FACTS

Sale Type
Investment
Sale Condition
Business Value Included
Property Type
Retail
Property Subtype
Restaurant
Building Size
22,000 SF
Building Class
C
Year Built/Renovated
1850/2023
Price
£712,813
Price Per SF
£32.40
Net Initial Yield
4.42%
NOI
£31,514
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
0.22
Lot Size
2.31 AC
Zoning
01 - commercial zoning.
Frontage
90 ft on New York 28

PROPERTY TAXES

Parcel Number 365089-114-005-0001-037-000-0000 Improvements Assessment £181,055
Land Assessment £71,056 Total Assessment £252,111

MAP

ADDITIONAL PHOTOS

View Photo Apartment side
View Photo Entire building
View Photo Restaurant
View Photo Store rental in High traffic corner
View Photo Restaurant deck
View Photo Restaurant and function room
View Photo Parking
View Photo Restobar - The Buzz
View Photo Bar Area
View Photo Restaurant dining room
View Photo Bar
View Photo FunctionRoom above restaurant
View Photo FunctionRoom1
View Photo IMG_6141

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