Remodeled Corner Restaurant
2-4 E Market Street, Corning, NY 14830
For Sale
$1,575,000
Multi-level restaurant property with commercial kitchens, dining areas, banquet space, and upgraded building systems.
Property Size11,776 SF
Days on Market378
Property Features for 2-4 E Market Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Sprinkler System
Commercial Hood
Taxes and HOA fees
Annual Taxes
Amenities
office
vast storage
new fire system
new internet system with POS
Synexis system
reversed osmosis
new security camera system
patron elevator
vault tasting room
fireplaces
banquet room
marble top bar
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Warren Real Estate of Ithaca Inc.
(607) 257-0666
Listed By:
Kathleen M Markowski · License NY 30MA0818780
(607) 342-0778
Source:
Wcirealty
Added: Oct 31, 2025
Changed: Nov 12
Last Checked: Aug 2 at 5:01AM
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 Warren Real Estate of Ithaca Inc.
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Investment Insights
Based on property information with market context.
This 1900 commercial building is configured for restaurant operations across multiple levels. The first floor includes a large commercial kitchen, while the upper level features an open-fire kitchen with a double hood and an additional prep kitchen. Basement space provides an office and extensive storage. The property also includes a dining room, private banquet room, marble-top bar, walk-in vault tasting room, three fireplaces, and a patron elevator.
Recent improvements include an upgraded sprinkler system, fire system, internet and POS system, Synexis system, reverse osmosis equipment, and security camera system. The building is zoned C, Commercial, and is currently operated as a restaurant/bistro with high-end wines and spirits. It is located in the Historical Gaffer District at 2-4 E Market Street in Corning, near the Corning Glass Museum, galleries, small businesses, and community events. A pilot program tax incentive is in place.
Recent improvements include an upgraded sprinkler system, fire system, internet and POS system, Synexis system, reverse osmosis equipment, and security camera system. The building is zoned C, Commercial, and is currently operated as a restaurant/bistro with high-end wines and spirits. It is located in the Historical Gaffer District at 2-4 E Market Street in Corning, near the Corning Glass Museum, galleries, small businesses, and community events. A pilot program tax incentive is in place.
Key Highlights
- Multi‑level restaurant building constructed in 1900
- Large first‑floor commercial kitchen plus upper‑level double‑hooded open‑fire kitchen
- Additional prep kitchen, basement office, and extensive storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,832
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,456,640
$1.5M
Cap Rate 7%
$1,040,457
$1.0M
Cap Rate 9%
$809,244
$809.2K
Market Conditions
NOI Build-Up for 11,776 SF
Gross rent
$111.6K $9.48/SF
− Vacancy
−$7.6K −$0.64/SF
EGI
$104.0K $8.84/SF
− OpEx
−$31.2K −$2.65/SF
NOI
$72.8K $6.18/SF
Area
Steuben County, NY
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,456,640
Cap Rate 7%
$1,040,457
Cap Rate 9%
$809,244
Alternative Uses
Best Use
Specialty Retail
$2.18M
$1.90M – $2.54M
NOI $152,299 @ 7.0% cap · market cap 9.67%
Second Best
Industrial
$1.04M
$910.4K – $1.21M
NOI $72,832 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$2.87M
$2.51M – $3.35M
NOI $200,957 @ 7.0% cap · market cap 12.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
1,241
Businesses Nearby
116k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 53%
Dining 22%
Shops & Services 22%
Hotels & Casinos 2%
Wegmans
Groceries
62,003 visits/mo
0.5 miles
McDonald's
Dining
20,658 visits/mo
0.2 miles
Byrne Dairy
Shops & Services
12,473 visits/mo
0.2 miles
Burger King
Dining
5,414 visits/mo
0.3 miles
Mobil
Shops & Services
5,068 visits/mo
0.1 miles
Demographics for 14830, NY
18,949
Population
9,324
Households
2
Avg Household Size
40
Median Age
41%
College-Educated
96%
High-School Grad
90.6 sq mi
ZIP Area
209
Density / Sq Mi
$73,831
Median Household Income
$48,331
Median Earnings
$997
Median Rent
$168,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Multi-level restaurant property with commercial kitchens, dining areas, banquet space, and upgraded building systems.
Where is this conventional restaurant located?
The property is located at 2-4 E Market Street Corning, NY.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Multi‑level restaurant building constructed in 1900; Large first‑floor commercial kitchen plus upper‑level double‑hooded open‑fire kitchen; Additional prep kitchen, basement office, and extensive storage
