Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Modern Office Space in Elmira Title is generated by Realmo AI

    170 North Park Lane, Elmira, NY 14903

    View on Map
    Claim this Listing
    For Lease
    $1,000/Mo $14 SF/Yr (calc)

    COMMERCIAL - Elmira, NY

    Type:Office
    Property size:
    825 SF
    Lot size:
    0.07 Acres
    Added:
    Apr 24, 2025
    Days on Market:
    385
    Last Refresh:
    May 13 at 1:06 am

    Property Features for 170 North Park Lane

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    Commercial
    Rooms
    Basement
    Parking
    5
    Standard status
    Active
    APN
    073403-069-017-0005-059-000-0000
    Size
    825 SF
    Lot size
    0.07 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1947
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Linoleum, Vinyl, Carpet
    Roof type
    Flat

    We can help!

    Listing Contact
    Arthur D. Ambrose

    Listing agent Arthur D. Ambrose License #30AM1081022

    Listing office Howard Hanna Elmira 215 W CHURCH ST, Corning, NY

    Listing date Apr 24, 2025

    MLS# R1599216

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Modern office space with approximately 825 square feet.
    • Includes a reception area and 2 private offices.
    • Accessible bathroom.
    • Use of basement for storage.
    • Central air conditioning.
    • Plenty of municipal parking.

    Overview

    This modern office space, suitable for commercial use, is located behind 170 East 14th Street in Elmira Heights on North Park Lane, which runs parallel to 14th Street. The property has approximately 825 square feet and includes a reception area, two private offices, and an accessible bathroom. The basement is available for storage. The lot size is 0.0689 acres. Municipal parking is available. The property is located in Chemung County, New York.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    National Income Life: ... Insurance Agency

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elmira
    County
    Chemung
    State
    New York
    Longitude
    -76.823452
    Latitude
    42.129252

    Nearby Similar for Lease

    • $1,650/Mo

      Elmira Office Space Available

      Clean, ready-to-go office spaces in Elmira, NY.
      170 E 14th Street, Elmira, NY 14903
      View Details
    • $1,200/Mo

      Elmira Commercial Space For Rent

      Commercial space on a high traffic, visible corner in Elmira.
      642 W water st, Elmira, NY 14905
      View Details
    • $12,000/Mo

      Elmira Industrial/Manufacturing Warehouse

      29,000 sq ft warehouse on 5 acres for lease.
      145 Philo Road W, Elmira, NY 14903
      View Details
    • $950/Mo

      Professional Office Space in Elmira

      Professional 5-room office suite in Commerce Center Building.
      400 E Church Street, Elmira, NY 14901
      View Details
    • Contact for pricing

      Elmira Commercial Space Available

      Commercial space on high-traffic corner with multiple rooms and entrances.
      642 w water st, Elmira, NY 14905
      View Details
    • $16 SF/Yr

      Freestanding Retail Building with Drive-Thru

      Former pharmacy with drive-thru, suitable for retail or restaurant.
      119 W Second Street, Elmira, NY 14901
      View Details
    • Contact for pricing

      Former Fridays Restaurant Sublease Opportunity

      Turnkey restaurant space available in a high-traffic retail center.
      830 County Rd 64, Elmira, NY 14903
      View Details
    • Contact for pricing

      Retail Center with Redevelopment Potential

      574,215 SF retail center with excellent visibility and access.
      830 County Route 64, Elmira, NY 14814
      View Details
    • Contact for pricing

      Retail Space in Big Flats

      Retail space available in a large shopping center.
      831-845 County Rd 64, Elmira, NY
      View Details
    • Contact for pricing

      Retail Center Space Available

      Retail spaces for lease in a high-traffic shopping center.
      830 County Rd 64, Elmira, NY 14903
      View Details
    • Contact for pricing

      Retail Space Near Arnot Mall

      Inline retail spaces available in busy shopping complex.
      950 County Rd 64, Elmira, NY
      View Details
    • Contact for pricing

      Downtown Elmira Retail Space Available

      Retail space in a neighborhood shopping center with high visibility.
      303 N Main St, Elmira, NY 14901
      View Details

    FAQs

    What type of property is this?
    Office units - Office space for rent featuring reception, offices, and storage.
    Where is this office units located?
    The property is located at 170 North Park Lane Elmira, NY.
    What is the lease rate?
    The lease rate is $1,000 /Mo.
    What are key features of this property?
    This property features: Modern office space with approximately 825 square feet.; Includes a reception area and **2 private offices**.; Accessible bathroom.
    (607) 738-8900
    We can help!
    Listing Contact
    Arthur D. Ambrose
    Real Estate License ID: 30AM1081022
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    170 North Park Lane, Elmira, NY 14903
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!