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

    51-53 Elm St Hornell, NY 14843

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $99,900

    Metal garage built in 2022 with extra lot included.

    Type:Commercial
    Lot size:
    0.05 Acres
    Added:
    Apr 27, 2026
    Days on Market:
    3
    Last Refresh:
    Apr 27 at 12:11 am

    Property Features for 51-53 Elm St

    General Information

    Standard status
    Active
    Lot size
    0.05 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    2022

    We can help!

    Listing Contact
    Stacia Schieder

    Listing agent Stacia Schieder

    Listing office Real Inc.

    Listing date Apr 27, 2026

    Source Elliman

    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 Real Inc.

    Overview

    Metal Garage with Extra Lot

    For sale is a 36-foot by 38-foot metal garage, constructed in 2022, suitable for housing up to five vehicles. The low-maintenance building features four overhead doors, providing easy access and flexible parking configurations. It is ideal for use as a multi-car garage, RV or boat storage, a workshop, or for small commercial purposes. The sale includes an extra adjacent lot, versatile for outdoor parking, equipment storage, or future expansion. The corner lot measures 82.5 feet by 28.5 feet. There is additional parking space behind and to the right of the building, enough for approximately five additional vehicles on the exterior. The property is located at 51-53 Elm St, Hornell, NY 14843. The sale includes two properties: the commercial building at 51-53 Elm St. under Tax ID#166.06-05-003.000 and the extra lot located adjacent on 34 Erie Avenue with Tax #166.06-05-001.000. The location has a walk score of 62, indicating it is somewhat walkable, and a bike score of 47, indicating it is somewhat bikeable.
    Location Intelligence

    Current Use by Public Records

    Parking lots & garages

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Hertz Car Rental - Hornell - Alstom Hornell HLE — 1 Transit Dr, Hornell, NY 14843

    Location Insight

    • Map
    • Local Demand
    City
    Hornell
    County
    Steuben
    State
    New York
    Longitude
    -77.6575612
    Latitude
    42.3237872

    Nearby Similar for Sale

    • $250,000
      11,514 SF

      Versatile Commercial Property on 1.5 Acres

      Flexible commercial property suitable for various business uses.
      55 N Main St, Hornell, NY 14843
      View Details
    • $170,000
      3,120 SF

      Retail/Office/Warehouse Opportunity

      Former plumbing and heating location with good visibility.
      299-301 Main Street, Hornell, NY 14843
      View Details
    • $619,000
      21,000 SF

      Hornell Warehouse/Distribution Building For Sale

      21,000+ SF building suitable for warehousing, distribution, or office/industrial.
      450-452 Canisteo St, Hornell, NY
      View Details
    • $325,000
      5,270 SF

      Hornell Multi-Income Commercial Property

      Turn-key, cash-flowing property with multiple revenue streams in high-visibility location.
      24 Park Dr, Hornell, NY 14843
      View Details
    • $2,500,000

      Event Center Portfolio For Sale

      Four properties functioning as an event center with guest housing.
      251 Main Street, Hornell, NY 14843
      View Details
    • $69,900

      Three-Unit Multifamily Property Near Downtown

      Three-unit multifamily property near the high school and downtown Hornell.
      8 Washington St, Hornell, NY 14843
      View Details
    • $199,000
      11,514 SF

      Warehouse/Distribution Building on 1.5 Acres

      Warehouse/distribution building with offices and one overhead door.
      55 N Main St, Hornell, NY
      View Details
    • $159,900

      Hornell Multifamily Property For Sale

      Two residential buildings on one tax parcel, fully occupied.
      56-58 Jane St, Hornell, NY 14843
      View Details
    • $82,000
      1,998 SF

      Two-Unit Investment Opportunity

      Two 2-bedroom units with off-street parking and decks.
      239 HIGH ST, HORNELL, NY 14843
      View Details
    • $5,190,000
      13,813 SF

      Hornell Retail Property for Sale

      Retail property with long-term lease and rental increases.
      12 Park Dr, Hornell, NY
      View Details
    • $5,190,000
      13,813 SF

      Walgreens with Drive Thru

      Walgreens in Hornell, NY with absolute NNN lease.
      12 Park Dr, Hornell, NY 14843
      View Details
    • $3,900,000
      88,000 SF

      Mixed-Use Retail/Warehouse Development Opportunity

      Mixed-use retail/warehouse plaza with development potential on 17.5 acres.
      7451 Seneca Rd N, Hornell, NY 14843
      View Details

    FAQs

    What type of property is this?
    Parking lot & garage - Metal garage built in 2022 with extra lot included.
    Where is this parking lot & garage located?
    The property is located at 51-53 Elm St Hornell, NY.
    What is the asking price?
    The asking price for this property is $99,900.
    What are key features of this property?
    This property features: Large 36’ x 38’ metal garage built in 2022, suitable for 5 vehicles; Includes an extra adjacent lot (82.5x28.5) for versatile outdoor use or expansion; Features 4 overhead doors for easy vehicle access and flexible configuration
    (607) 324-0394
    We can help!
    Listing Contact
    Stacia Schieder
    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!