159 Prescott Avenue, Horseheads, NY 14903

Building Details

Year Built 1960 More

Listing Agency: Howard Hanna Horseheads k***@howardhanna.com Show Phone

Listed By: Macie Drake · License #10401350147 Show Phone

Source: Prestigefamilyrealty

Added: Oct 5 Changed: Nov 6 Last Checked: Nov 6 at 3:36PM

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Investment Insights

Based on property information with market context.

Operating bar and grill at 159 Prescott Avenue in Horseheads, New York, with 2,913 square feet. The building dates to 1960 and has separate areas for dining and entertainment, plus a kitchen and dedicated food-preparation space. A pool room contains two establishment-owned tables.

Outside, a partially covered deck and fenced yard provide additional gathering space. A 10’ x 20’ Amish-made shed is also on the property and is used for catering supplies and restaurant storage. The business remains open.

Key Highlights

• 2,913‑square‑foot bar and grill
• Separate dining and entertainment areas
• Kitchen with a separate prep space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,076

Cap Rate

6.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$601,520 $601.5K

Cap Rate 7%

$429,657 $429.7K

Cap Rate 9%

$334,178 $334.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,913 SF

Gross rent

$41.9K $14.40/SF

− Vacancy

−$1.8K −$0.63/SF

EGI

$40.1K $13.77/SF

− OpEx

−$10.0K −$3.44/SF

NOI

$30.1K $10.32/SF

Area

Chemung County, NY

Vacancy

4.40%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$601,520

Cap Rate 7%

$429,657

Cap Rate 9%

$334,178

Alternative Uses

Best Use

Specialty Retail

$429.7K

$376.0K – $501.3K (±1% cap)

NOI $30,076 @ 7.0% cap · market cap 6.02%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$26.52M

$23.20M – $30.94M (±1% cap)

NOI $1,856,201 @ 7.0% cap · market cap 371.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Bars & Pubs

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Kitchen & Bath Showroom Bakery Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

443

Businesses Nearby

28k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 93% Dining 7%

Splash Car Wash Shops & Services

7,413 visits/mo 0.4 miles

7-Eleven Shops & Services

6,166 visits/mo 0.4 miles

Exxon Shops & Services

4,862 visits/mo 0.4 miles

Sunoco Shops & Services

3,321 visits/mo 0.2 miles

Hallmark Shops & Services

2,725 visits/mo 0.4 miles

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

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Similar Off Market Nearby

• Pick's Pub — 101 Prescott Ave, Elmira Heights, NY 14903
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Frequently Asked Questions

What type of property is this?

Bar & Pub - Separate dining and entertainment areas are complemented by a fenced outdoor yard.

Where is this bar & pub located?

The property is located at 159 Prescott Avenue Horseheads, NY.

What is the asking price?

The asking price for this property is $500,000.

What are key features of this property?

This property features: 2,913‑square‑foot bar and grill; Separate dining and entertainment areas; Kitchen with a separate prep space