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

    131-133 Walnut St Corning, NY 14830

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $225,000

    4,928 SF office building suitable for medical or office use.

    Lot size:
    0.21 Acres

    Property Features for 131-133 Walnut St

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.21 Acres

    Building Details

    Year built
    1955

    We can help!

    Listing Contact
    Michael Manzari
    Michael Manzari
    Source: Elliman

    Listing Agency: Cushman & Wakefield Pyramid Brokerage Company Corning Listing Agent: Michael Manzari

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Office Building with Lab Space

    This 4,928 square foot office building offers a reception area, lab space, and a waiting room. It includes four exam rooms, an open area with cubicles, and a private office. The property also features an employee kitchen and a large conference room. There are two public restrooms and one employee restroom. The building is ADA accessible and has a large parking lot in the rear with 11 parking spaces. It presents an excellent opportunity for medical or any type of office use. There is also potential to lease the building.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Corning
    County
    Steuben
    State
    New York
    Longitude
    -77.0570913
    Latitude
    42.1426546

    Nearby Similar for Sale

    • New
      $149,900
      Pending

      Retail Building on Market Street

      Two-story retail building in Corning's historic Market Street.
      10 W Market St, Corning, NY 14830
      View Details
    • $650,000
      5,880 SF

      Corning Investment Property with Tenant

      Four-unit building leased to Visionworks until 2027.
      107-113 W Market St, Corning, NY 14830
      View Details
    • $139,000
      3,316 SF

      Mixed-Use Property in Corning, NY

      Commercial storefront with apartments and additional commercial space.
      135 Bridge Street Ext, Corning, NY 14830
      View Details
    • New
      $149,900
      2,740 SF

      Corning Multifamily Income Property

      Three-unit income property in Corning, NY with potential for improvements.
      148 W 3Rd St, Corning, NY 14830
      View Details
    • $1,795,000
      11,776 SF

      Historical Gaffer District Commercial Opportunity

      High-quality, remodeled building in a prime location.
      2-4 E Market St, Corning, NY 14830
      View Details
    • New
      $124,000
      1,536 SF

      Charming Brick Home Near Market

      Multi-family home near Market Street, ideal for owner occupancy.
      173 Walnut St, Corning, NY 14830
      View Details
    • New
      $225,000
      2,170 SF

      Historical Mixed-Use Building on Market

      Mixed-use building with retail and apartment units on Market Street.
      88 E Market St, Corning, NY 14830
      View Details
    • New
      $184,999
      2,092 SF

      Two-Unit Income Property in Corning

      Two-unit property near Market Street, ideal for investors or owner-occupants.
      169 Wall St, Corning, NY 14830
      View Details
    • $138,000
      2,640 SF

      Corning Triplex with Rented Units

      Investment opportunity: triplex in quiet neighborhood with separate utilities.
      63 Sterling St, Corning, NY 14830
      View Details
    • New
      $249,000
      2,268 SF

      Charming Two-Unit Home in Corning

      Updated two-unit home near Corning Museum of Glass.
      88 Gorton St, Corning, NY 14830
      View Details
    • $189,000
      2,111 SF

      Corning Multifamily Investment Opportunity

      Inviting rental property near downtown Corning with income potential.
      179 Sly Avenue Ext, Corning, NY 14830
      View Details
    • $79,900
      2,099 SF

      Spacious Two-Unit Home with Garage

      Two-unit home with garage, renovation potential, near Market Street.
      360 E 1St St, Corning, NY 14830
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 4,928 SF office building suitable for medical or office use.
    Where is this medical office space located?
    The property is located at 131-133 Walnut St Corning, NY.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: - 4,928sf office building suitable for medical or general office use; - Includes reception area, lab space, exam rooms, open cubicle area, private office, and conference room; - Large parking lot with 11 spaces
    (607) 937-9720
    Request Owner's contact information
    131-133 Walnut St Corning, NY 14830
    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.
    131-133 Walnut St
    Corning, NY 14830
    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
    131-133 Walnut St Corning, NY 14830
    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

    We can help!
    Listing Contact
    Michael Manzari
    Michael Manzari
    Real Estate License ID: 30MA0862846
    (607) 937-9720 (607) 738-8458
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!