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    644 E Main St Palmyra, NY 14522

    Sponsored
    For Lease
    $500 /Mo ($25 SF/Yr)

    COMMERCIAL - Palmyra, NY

    Type:Office
    Property size:
    240 SF
    Lot size:
    0.59 Acres
    Days on Market:
    13
    Last Refresh:
    Jan 19 at 3:06 am

    Property Features for 644 E Main St

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Lease
    Property subtype
    Office
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    C3
    APN
    543601-065-111-0009-136-579-0000
    Parking
    23
    Size
    240 SF
    Lot size
    0.59 Acres

    Utilities

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

    Building Details

    Year built
    1987
    Floors in Building
    2
    Flooring type
    Carpet
    Building materials
    Brick, WoodSiding
    Roof type
    Shingle, Asphalt

    We can help!

    Listing Contact
    Raymond Cino

    Cornerstone Realty Associates (315) 589-7320 [email protected]

    Listing agent Raymond Luke Cino (315) 524-7320 License #10491201091

    Listing date Jan 7, 2026

    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.

    Learn more

    Property Insight Report

    Overview

    Palmyra Commercial Rental Opportunity

    Available commercial rental space located at 644 East Main Street, Palmyra, NY, presents a fantastic high-visibility business opportunity. The space, approximately 200-250 square feet, was most recently used as independent offices and offers flexible potential for a variety of business uses. The lease includes access to shared common areas, including a kitchen, foyer/entryway, and two bathrooms. The main open space shown in the listing photos is available, and there is also a very large space within the building that may be leased as well. The rent is $500 per month, for 2 separate office spaces, which includes heat, electric, Wi-Fi, snow plowing, lawn care, and general building maintenance. The tenant is responsible for maintaining their leased space and sharing a portion of any repairs required in the lower level. The property benefits from a convenient Main Street location with excellent visibility and easy access. This is a great opportunity for a small business, office, or specialty retail use. The lot size is 0.59 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wells Insurance Insurance Agency Keith Larwood Real ... Real Estate Agent Cornerstone Realty Associates-Palmyra Real Estate Agency

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Palmyra
    County
    Wayne
    State
    New York
    Longitude
    -77.214858
    Latitude
    43.060613

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      Palmyra Commercial Space For Rent

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      Palmyra Office Space For Rent

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    FAQs

    What type of property is this?
    Office space - Commercial rental space with flexible potential for various business uses.
    Where is this office space located?
    The property is located at 644 E Main St Palmyra, NY.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: - High-visibility Main Street location.; - Rent includes heat, electric, Wi-Fi, snow plowing, lawn care, and general building maintenance.; - Flexible space suitable for office, retail, or small business.
    (315) 524-7320
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    644 E Main St Palmyra, NY 14522
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    Palmyra, NY 14522
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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
    644 E Main St Palmyra, NY 14522
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    We can help!
    Listing Contact
    Raymond Cino
    Real Estate License ID: 10491201091
    (315) 524-7320
    Learn more
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