Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Aviation Facility with Tarmac Access Title is generated by Realmo AI

    41 Aviation Dr, Horseheads, NY

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    70,000 SF aviation facility with direct tarmac access.

    Type:INDUSTRIAL
    Property size:
    70,000 SF
    Lot size:
    662.50 Acres
    Price / SF:
    $78/SF
    Added:
    Jun 23, 2024
    Days on Market:
    716
    Last Refresh:
    May 20 at 8:43 pm

    Property Features for 41 Aviation Dr

    General Information

    Standard status
    Active
    Size
    70,000 SF
    Lot size
    662.50 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Michael Manzari, SIOR, CCIM

    Listing agent Michael Manzari, SIOR, CCIM

    Listing office Cushman & Wakefield | Pyramid Brokerage - Corning \ Elmira

    Listing date Jun 23, 2024

    Source Moodyscre

    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 Cushman & Wakefield | Pyramid Brokerage - Corning \ Elmira

    HighLights

    • Direct tarmac/runway access at Elmira Corning Regional Airport (ELM).
    • 70,000sf aviation/aeronautical facility suitable for multiple aviation‑related uses.
    • 30,000sf of hangar space with a 30' x 120' hangar door.
    • Completely renovated in 2012.
    • Air piped throughout the building from a large IR air compressor.
    • Fenced and gated property with guard shack.

    Overview

    This 70,000 square foot aviation/aeronautical facility, renovated in 2012, is suitable for manufacturing/assembly, aviation maintenance, or air cargo shipping, among other aviation-related uses. Located on the Elmira Corning Regional Airport (ELM), the property offers direct access to the tarmac/runway. The facility includes 30,000 square feet of hangar space featuring a 30' x 120' hangar door. The remaining space is configured with a reception area, training rooms, a cafeteria, open floor plans, ADA-compliant restrooms, an executive office suite with a meeting room, a machine shop, a parts room, and storage areas. An air compressor provides piped air throughout the building. The property is on a ground lease with the airport, with acreage and lease terms to be negotiated. The site is fenced and gated, with a guard shack at the entrance.

    Local Financial Insights For Industrial

    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 $546.0k $7.80
    − Vacancy −$41.0k −$0.59
    EGI $505.1k $7.22
    − OpEx −$151.5k −$2.16
    NOI $353.5k $5.05
    70,000 SF · lease $7.80/SF/yr · vacancy 7.50% · expense 30.00%

    Alternative Uses

    Best Use
    Industrial
    $5.05M
    $4.42M – $5.89M (±1% cap)
    NOI $353,535 @ 7.0% cap · market cap 6.43%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Multifamily LT 5
    $637.21M
    $557.56M – $743.42M (±1% cap)
    NOI $44,604,910 @ 7.0% cap · market cap 811.00%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Restaurant Spa & Massage Center Auto Repair Shop Hair Salon Pharmacy Skin Care Clinic Food Market Grocery & Convenience Store Furniture & Home Goods Electronics & Wireless Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Horseheads
    County
    Chemung
    State
    New York
    Longitude
    -76.8923
    Latitude
    42.1691

    Nearby Similar for Sale

    • $675,000
      2,872 SF

      Turnkey Convenience Store Near Airport

      Established convenience store and quick-food business in prime location.
      435 Sing Sing Road, HORSEHEADS, NY 14845
      View Details
    • $115,000
      4,848 SF

      Adaptable Commercial Space, Horseheads, NY

      Versatile commercial property with high visibility and easy highway access.
      3137 Lake Road, Horseheads, NY 14845
      View Details
    • $999,999
      5,076 SF

      Versatile Commercial Building in Horseheads

      Meticulously maintained building with space, flexibility, and excellent business exposure.
      226 Colonial Drive, Horseheads, NY 14845
      View Details
    • $475,000
      14,225 SF

      High-Traffic Retail Investment Property

      Investment property on high-traffic area with long-term tenants.
      701-705 & 703R S Main Street, Horseheads, NY 14845
      View Details
    • $275,000
      2,376 SF

      Professional Office Space in Horseheads

      Well-maintained office building with expansion potential in a central location.
      2860 Westinghouse Road, Horseheads, NY 14845
      View Details
    • $199,000
      994 SF

      Turnkey Commercial Property in Horseheads

      Standalone commercial property with excellent visibility and easy highway access.
      829 W Broad St, Horseheads, NY 14845
      View Details
    • $165,000
      3,285 SF

      Charming Horseheads Home with Rental Potential

      Spacious home with flexible layout, large garage, and outdoor features.
      31 Lorraine Boulevard, Horseheads, NY 14845
      View Details
    • $275,000
      2,376 SF

      Professional Office Space in Horseheads

      Well-maintained office building with expansion potential in Horseheads, NY.
      2860 Westinghouse Road, Horseheads, NY, USA, Horseheads, NY 14845
      View Details
    • $323,000

      Multi-Unit Residence with Detached Garage

      Two-level residence offers flexible multi-generational or rental configuration, supported by a standout 2+ car garage.
      3301 Watkins Rd, Veteran, NY 14845
      View Details
    • Contact for pricing
      860,000 SF

      860,000 SF Industrial Facility

      Mission-critical industrial facility in Horseheads, NY, with long-term tenants.
      100-200 Westinghouse Cir, Horseheads, NY 14845
      View Details
    • $580,000

      19-Unit Multifamily Property For Sale

      19-unit multifamily property located in the Southern Tier of New York.
      3554 Watkins Rd, Horseheads, NY 14845
      View Details
    • $550,000
      11,239 SF

      Turnkey Convenience Store with Beer License

      Fully equipped store with warehouse, residence, and high visibility.
      3165 Lake Rd. Horseheads NY 14845, Horseheads, NY 14845
      View Details

    FAQs

    What type of property is this?
    Manufacturing property - 70,000 SF aviation facility with direct tarmac access.
    Where is this manufacturing property located?
    The property is located at 41 Aviation Dr Horseheads, NY.
    What is the asking price?
    The asking price for this property is $5,500,000.
    What are key features of this property?
    This property features: Direct tarmac/runway access at Elmira Corning Regional Airport (ELM).; 70,000sf aviation/aeronautical facility suitable for multiple aviation‑related uses.; **30,000sf of hangar space with a 30' x 120' hangar door.**
    (607) 738-8458 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Michael Manzari, SIOR, CCIM
    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
    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
    41 Aviation Dr, Horseheads, NY
    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!