Freestanding Pharmacy with
119 W 2nd St Elmira, NY 14901
For Sale
Contact for pricing
Freestanding former pharmacy building with a drive-thru, recently updated facade, and large parking lot on a corner lot.
Property Size10,945 SF
Price / SF$164.46
Days on Market188
Property Features for 119 W 2nd St
General Information
Standard status
Active
Size
10,945 SF
Property subtype
RETAIL
Listing Agency:
Donovan Real Estate Services
(716) 998-2943
Listed By:
Brian P Donovan · License #10491202934
Source:
Moodyscre
Added: Jan 22
Changed: Jul 26
Last Checked: Jul 28 at 2:08PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Donovan Real Estate Services
Investment Insights
Based on property information with market context.
This freestanding former pharmacy building includes a drive-thru and is offered for lease or sale. The property features a recently updated facade, two pylon signs, and building signage, along with a large parking lot with multiple curb cuts to support convenient vehicle access.
Located on a corner lot in downtown Elmira, the site can accommodate a variety of retail or restaurant concepts based on the building’s flexible storefront format and visibility enhancements provided by the pylon signage.
The improvements and site layout are designed for customer parking and straightforward ingress/egress, supported by multiple curb cuts and the corner-lot configuration.
Located on a corner lot in downtown Elmira, the site can accommodate a variety of retail or restaurant concepts based on the building’s flexible storefront format and visibility enhancements provided by the pylon signage.
The improvements and site layout are designed for customer parking and straightforward ingress/egress, supported by multiple curb cuts and the corner-lot configuration.
Key Highlights
- Former freestanding pharmacy building with a drive‑thru available for lease or sale.
- Recently renovated/updated building facade.
- Corner lot location in downtown Elmira suitable for retail or restaurant concepts.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $157.6k | $14.40 |
| − Vacancy | −$6.9k | −$0.63 |
| EGI | $150.7k | $13.77 |
| − OpEx | −$37.7k | −$3.44 |
| NOI | $113.0k | $10.32 |
10,945 SF · lease $14.40/SF/yr · vacancy 4.40% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.61M
$1.41M – $1.88M
NOI $113,005 @ 7.0% cap · market cap 6.28%
Second Best
Retail
$1.21M
$1.06M – $1.41M
NOI $84,583 @ 7.0% cap · market cap 4.70%
Theoretical Best
Multifamily LT 5
$99.63M
$87.18M – $116.24M
NOI $6,974,296 @ 7.0% cap · market cap 387.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Gerould's Professional Pharmacy Inc — 130 S Main St, Elmira, NY 14904
- Gerould's Pharmacy — 130 S Main St, Elmira, NY 14904
- Gerould's Healthcare Center (Community Cares Health Solutions) — 200 S Main St, Elmira, NY 14904
- Mark Steed — 130 S Main St, Elmira, NY 149041309
- Kenzie Overacker — 130 S Main St, Elmira, NY 149041309
Frequently Asked Questions
What type of property is this?
Drug store - Freestanding former pharmacy building with a drive-thru, recently updated facade, and large parking lot on a corner lot.
Where is this drug store located?
The property is located at 119 W 2nd St Elmira, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Former freestanding pharmacy building with a drive‑thru available for lease or sale.; Recently renovated/updated building facade.; Corner lot location in downtown Elmira suitable for retail or restaurant concepts.
