Manufacturing Warehouse with Loading
For Sale
$1,750,000
145 Philo Road W, Elmira, NY 14903
The facility combines production and warehouse areas with office space, a fenced section, and three-phase power.
Property Size28,906 SF
Lot Size5.00 Acres
Price / SF$60.54
Days on Market363
Property Features for 145 Philo Road W
General Information
Standard status
Active
Size
28,906 SF
Total Parking Spaces
50
Lot size
5.00 Acres
Property subtype
Commercial
Zoning
TH05, Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
20 ft
Dock-High Doors
4
Three-Phase Power
Yes
Sprinkler System
Yes
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$19,483
Building Details
Building Size
28,906 SF
Year Built
1968
Buildings
1
Stories
1
Listed By:
Heidi Westcott
(315) 796-9034
Source:
Deeprootedrealty
Added: Oct 28, 2025
Changed: Oct 23
Last Checked: Oct 23 at 4:12PM
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 Heidi Westcott
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Investment Insights
Based on property information with market context.
This 28,906-square-foot manufacturing and warehouse facility sits on more than 5 acres. The building includes a production area, a second warehouse wing, and office and multipurpose space. A secured section of the site is fenced, and the building has 20-foot clear height, multiple overhead doors, and a four-bay loading dock. Additional features include three-phase electrical service, a sprinkler system, and municipal services. Built in 1968, the property is zoned TH05, Industrial.
The site is minutes from I-86 and near businesses including NYSEG and Erie Materials.
The site is minutes from I-86 and near businesses including NYSEG and Erie Materials.
Key Highlights
- 28,906‑square‑foot building on 5 plus acres
- 20‑foot clear height and four‑bay loading dock
- Multiple overhead door access points
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$145,990
Cap Rate
8.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,919,800
$2.9M
Cap Rate 7%
$2,085,571
$2.1M
Cap Rate 9%
$1,622,111
$1.6M
Market Conditions
NOI Build-Up for 28,906 SF
Gross rent
$225.5K $7.80/SF
− Vacancy
−$16.9K −$0.59/SF
EGI
$208.6K $7.22/SF
− OpEx
−$62.6K −$2.16/SF
NOI
$146.0K $5.05/SF
Area
Chemung County, NY
Vacancy
7.50%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,919,800
Cap Rate 7%
$2,085,571
Cap Rate 9%
$1,622,111
Alternative Uses
Best Use
Warehouse
$2.83M
$2.47M – $3.30M
NOI $197,850 @ 7.0% cap · market cap 11.31%
Second Best
Industrial
$2.09M
$1.82M – $2.43M
NOI $145,990 @ 7.0% cap · market cap 8.34%
Theoretical Best
Multifamily LT 5
$263.13M
$230.24M – $306.99M
NOI $18,419,279 @ 7.0% cap · market cap 1,052.53%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
20 ft
Clear height
4
Dock-high doors
Yes
Sprinkler system
Yes
Fenced yard
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
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Business Placement
Demographics for 14903, NY
7,279
Population
3,344
Households
2.2
Avg Household Size
42
Median Age
28%
College-Educated
95%
High-School Grad
21.6 sq mi
ZIP Area
337
Density / Sq Mi
$66,142
Median Household Income
$41,182
Median Earnings
$943
Median Rent
$123,900
Median Home Value
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Manufacturing property - The facility combines production and warehouse areas with office space, a fenced section, and three-phase power.
Where is this manufacturing property located?
The property is located at 145 Philo Road W Elmira, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 28,906‑square‑foot building on 5 plus acres; 20‑foot clear height and four‑bay loading dock; Multiple overhead door access points
