Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    144 Colonial Dr Horseheads, NY

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Land parcel near I-86, utilities available, business zoning.

    Type:LAND
    Lot size:
    6.09 Acres
    Added:
    Mar 5, 2025
    Days on Market:
    406
    Last Refresh:
    Apr 5 at 11:07 pm

    Property Features for 144 Colonial Dr

    General Information

    Standard status
    Active
    Lot size
    6.09 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Ronald Panosian
    Ronald Panosian

    Listing agent Ronald Panosian License #10301203376

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

    Listing date Mar 5, 2025

    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

    Overview

    I-86 Accessible Land Parcel

    This commercial land parcel is located at the end of the I-86 slip ramp between exits 51 and 52. The property is situated directly across from Raymour & Flanigan's. Originally proposed as two outparcels, the site is zoned "Business Regional". All public utilities are located nearby. The property is located minutes from the Arnot Mall, automotive sales, regional retail, the Elmira-Corning Regional Airport, and Airport Corporate Park. It is located midway between Elmira and Corning.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop 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
    -76.8607
    Latitude
    42.1616

    Nearby Similar for Sale

    • $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

      Well-Maintained Office Building in Horseheads

      Centrally located office building with expansion potential in Horseheads, NY.
      2860 Westinghouse Road, Horseheads, NY 14845
      View Details
    • $499,000

      Horseheads Commercial Land For Sale

      3.58 acres of commercial land with development potential.
      565 State Route 13, Horseheads, NY 14845
      View Details
    • $349,000

      Land in Horseheads, NY

      2.43 acre commercial land parcel for sale.
      489 Old Ithaca Rd Lot #1, Horseheads, NY 14845
      View Details
    • $175,000
      3,285 SF

      Charming Horseheads Home with Potential

      Spacious home with flexible layout, large garage, and outdoor features.
      31 Lorraine Boulevard, Horseheads, NY 14845
      View Details
    • $199,000

      Turnkey Commercial Property in Horseheads

      Standalone commercial property with excellent visibility and easy highway access.
      829 W Broad St, Horseheads, NY 14845
      View Details
    • $1,950,000
      149,079 SF

      Former Ames Plaza Investment Opportunity

      Versatile storefronts with rental potential and established land lease.
      3162 Lake Road, Horseheads, NY 14845
      View Details
    • $189,000
      1,937 SF

      Commercial Building with Apartment, Horseheads

      Commercial building with apartment and high-traffic exposure in Horseheads, NY.
      10 Ridge Road, Horseheads, NY 14845
      View Details
    • $79,000

      Vacant Land in Horseheads, NY

      Commercial land parcel suitable for various business uses.
      2454 Rt-14, Horseheads, NY 14845
      View Details
    • $499,000

      Commercial Land Investment Opportunity

      Commercial land suitable for various development projects, subject to approval.
      565 State Route 13, Horseheads, NY, 14845
      View Details
    • $335,000

      Land Parcel in Horseheads, NY

      129.3 acres of wooded land with mineral and timber rights.
      355 Townley Hill Road, Horseheads, NY 14845
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land parcel near I-86, utilities available, business zoning.
    Where is this commercial land located?
    The property is located at 144 Colonial Dr Horseheads, NY.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: Zoned “Business Regional” offering diverse development opportunities.; High‑visibility location at the end of I‑86 Slip Ramp between Exits #51 & #52.; Directly across from Raymour & Flanigan’s.
    (607) 426-5282 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ronald Panosian
    Ronald Panosian
    Real Estate License ID: 10301203376
    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

    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!