Updated Salon
For Sale
$240,000
177 Village Square, Painted Post, NY 14870
Commercial Sale, Painted Post, NY
Property Size1,596 SF
Lot Size0.04 Acres
Price / SF$150.38
Days on Market194
Property Features for 177 Village Square
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Half bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Elementary school district
Corning Painted Post
Middle school district
Corning Painted Post
High school district
Corning Painted Post
Subdivision
Steuben
Standard status
Active
Size
1,596 SF
Lot size
0.04 Acres
Amenities
4-5 station areas
two private rooms
one semi-private room
two bathrooms
break room with sink, refrigerator, and washer/dryer
Building Details
Year built
1972
Listing Agency:
Howard Hanna Southern Tier
(607) 936-4663
Listed By:
Jennifer Baker · License #40BA1157206
(607) 857-2077
Added: Mar 2
Changed: Sep 4
Last Checked: Sep 12 at 1:06AM
MLS# 31726977
Copyright © 2026 Northern Mountains of Pennsylvania MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,596-square-foot salon property was built in 1972 and has undergone a 90% interior remodel, along with code-related updates. The layout includes 4-5 station areas, two private rooms, one semi-private room, and two bathrooms. A staff break area adds a sink, refrigerator, and washer/dryer, while select equipment is included with the sale.
The property is located at 177 Village Square in Painted Post, within the Village Square setting. The site offers on-site parking, visibility, and a high-traffic position. The space is currently operating as a hair, spa, and nail salon, providing an existing configuration for continued salon use or a different wellness-oriented concept.
The property is located at 177 Village Square in Painted Post, within the Village Square setting. The site offers on-site parking, visibility, and a high-traffic position. The space is currently operating as a hair, spa, and nail salon, providing an existing configuration for continued salon use or a different wellness-oriented concept.
Key Highlights
- 1,596 SF salon property with a 90% interior remodel
- 4‑5 station areas, two private rooms, and one semi‑private room
- Two bathrooms plus a break area with sink, refrigerator, and washer/dryer
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,412
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$308,240
$308.2K
Cap Rate 7%
$220,171
$220.2K
Cap Rate 9%
$171,244
$171.2K
Market Conditions
NOI Build-Up for 1,596 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$23.0K $14.40/SF
− Vacancy
−$965 −$0.60/SF
EGI
$22.0K $13.80/SF
− OpEx
−$6.6K −$4.14/SF
NOI
$15.4K $9.66/SF
Area
Steuben County, NY
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$308,240
Cap Rate 7%
$220,171
Cap Rate 9%
$171,244
Alternative Uses
Best Use
Retail
$220.2K
$192.7K – $256.9K
NOI $15,412 @ 7.0% cap · market cap 6.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$389.1K
$340.5K – $453.9K
NOI $27,236 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
41k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 88%
Shops & Services 12%
McDonald's
Dining
27,954 visits/mo
0.2 miles
KFC
Dining
7,822 visits/mo
0.2 miles
Mobil
Shops & Services
4,928 visits/mo
0.2 miles
Demographics for 14870, NY
9,648
Population
4,691
Households
2.1
Avg Household Size
44
Median Age
41%
College-Educated
93%
High-School Grad
64.5 sq mi
ZIP Area
150
Density / Sq Mi
$88,514
Median Household Income
$58,864
Median Earnings
$1,128
Median Rent
$164,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Similar Off Market Nearby
- Peacock Acupuncture — 145 Village Square, Painted Post, NY 14870
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Configured for hair, spa, and nail services with private rooms and support areas.
Where is this spa & wellness property located?
The property is located at 177 Village Square Painted Post, NY.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 1,596 SF salon property with a 90% interior remodel; 4‑5 station areas, two private rooms, and one semi‑private room; Two bathrooms plus a break area with sink, refrigerator, and washer/dryer
