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    226 Colonial Drive Horseheads, NY 14845

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    Claim this Listing
    For Sale
    $999,999

    COMMERCIAL - Horseheads, NY

    Property size:
    5,076 SF
    Lot size:
    2.00 Acres
    Price / SF:
    $197/SF
    Added:
    Oct 14, 2025
    Days on Market:
    201
    Last Refresh:
    May 2 at 2:06 pm

    Property Features for 226 Colonial Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Com 1
    Parking
    29
    Standard status
    Active
    APN
    072400-058-001-0002-035-012-0000
    Size
    5,076 SF
    Lot size
    2.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    30304

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1994
    Floors in Building
    1
    Flooring type
    Carpet
    Roof type
    Asphalt, Shingle

    We can help!

    Listing Contact
    Lauren Groth
    Lauren Groth

    Listing agent Lauren Groth License #10301222236

    Listing office Signature Properties 506 S MAIN ST, Horseheads, NY

    Listing date Oct 14, 2025

    MLS# R1644660

    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.

    Overview

    Versatile Commercial Building in Horseheads

    This meticulously maintained 5,076 square foot commercial building is located in Horseheads, New York. The property offers flexibility for a variety of uses and provides excellent business exposure with easy access to major routes. The layout includes an inviting lobby and reception area, a conference room, and a large open office space currently configured with 8 cubicles and storage. Additionally, there is a second office area currently set up as a private storefront, along with three private offices, a kitchenette, and two restrooms each equipped with multiple stalls. All major systems have been regularly serviced. Situated on a 2-acre lot, the site offers ample parking and room for future expansion. The property is zoned Com 1.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Girl Scouts of NYPENN ... Child Welfare Organization

    Suggested Use

    Real Estate Agency Restaurant Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Horseheads
    County
    Chemung
    State
    New York
    Longitude
    -76.869447
    Latitude
    42.163635

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    FAQs

    What type of property is this?
    Office units - Meticulously maintained building with space, flexibility, and excellent business exposure.
    Where is this office units located?
    The property is located at 226 Colonial Drive Horseheads, NY.
    What is the asking price?
    The asking price for this property is $999,999.
    What are key features of this property?
    This property features: 5,076 sqft building with flexible space.; Excellent business exposure and easy access to major routes.; Ample parking and 2‑acre site with room for future expansion.
    (607) 483-8219
    We can help!
    Listing Contact
    Lauren Groth
    Lauren Groth
    Real Estate License ID: 10301222236
    Learn More
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    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
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    226 Colonial Drive, Horseheads, NY 14845

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