Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Horseheads Warehouse and Office Space Title is generated by Realmo AI

    224 N Main Street, Horseheads, NY 14845

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $12,500,000

    116,000 SF warehouse with 30,000 SF office space.

    Type:Industrial
    Property size:
    116,000 SF
    Price / SF:
    $107/SF
    Added:
    Nov 26, 2025
    Days on Market:
    171
    Last Refresh:
    Apr 5 at 9:35 pm

    Property Features for 224 N Main Street

    General Information

    Standard status
    Active
    Size
    116,000 SF
    Property subtype
    Industrial

    We can help!

    Listing Contact
    Justin Tunnell, SIOR

    Listing agent Justin Tunnell, SIOR License #TX #498388

    Listing office Lee & Associates

    Listing date Nov 26, 2025

    Source Lee-associates

    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 Lee & Associates

    HighLights

    • 88.53 Acres
    • 116,000 Total SF
    • Heavy Power, 3‑Phase
    • 29' - 38' Eave Height
    • Features 30,000 SF Office
    • Located in Horseheads, NY

    Overview

    This property, located in Horseheads, NY, features a total of approximately 116,000 square feet, including approximately 30,000 square feet of office space. The property is situated on approximately 88.53 acres and has eave heights ranging from approximately 29 feet to approximately 38 feet. It also features heavy power, 3-phase.

    Financial Insights

    Value Estimation Calculated for Warehouse

    Conservative
    $8.82M
    NOI $793,975 @ 9.00% cap · cautious / downside scenario
    Moderate
    $11.34M
    NOI $793,975 @ 7.00% cap · market / base-case scenario
    Aggressive
    $15.88M
    NOI $793,975 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Warehouse

    Component $ $/SF
    Gross rent $1.00M $8.64
    − Vacancy −$68.2k −$0.59
    EGI $934.1k $8.05
    − OpEx −$140.1k −$1.21
    NOI $794.0k $6.84
    116,000 SF · lease $8.64/SF/yr · vacancy 6.80% · expense 15.00%

    Alternative Use Scenarios

    Best Use
    Warehouse
    $11.34M
    $9.92M – $13.23M (±1% cap)
    NOI $793,975 @ 7.0% cap · market cap 6.35%
    Second Best
    Industrial
    $8.37M
    $7.32M – $9.76M (±1% cap)
    NOI $585,858 @ 7.0% cap · market cap 4.69%
    Theoretical Best
    Multifamily LT 5
    $1,055.95M
    $923.96M – $1,231.95M (±1% cap)
    NOI $73,916,708 @ 7.0% cap · market cap 591.33%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Kayden Industries Factory Air Contact Transport Trucking Company Mc Junkin Red ... Distribution Center Gas Field Specialists ... Oil & Natural Gas Company A W Farrell Roofing Company

    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

    • SteelSafe Storage of Horseheads — 12 E St, Horseheads, NY 14845
    • Bolt Storage — 192 Old Ithaca Rd, Horseheads, NY 14845

    Location Insight

    • Map
    • Local Demand
    City
    Horseheads
    County
    Chemung
    State
    New York
    Longitude
    -76.824
    Latitude
    42.171

    Nearby Similar for Sale

    • $115,000
      4,848 SF

      Adaptable Commercial Space, Horseheads, NY

      Versatile commercial property with high visibility and easy highway access.
      3137 Lake Road, Horseheads, NY 14845
      View Details
    • $999,999
      5,076 SF

      Versatile Commercial Building in Horseheads

      Meticulously maintained building with space, flexibility, and excellent business exposure.
      226 Colonial Drive, Horseheads, NY 14845
      View Details
    • $475,000
      14,225 SF

      High-Traffic Retail Investment Property

      Investment property on high-traffic area with long-term tenants.
      701-705 & 703R S Main Street, Horseheads, NY 14845
      View Details
    • $275,000
      2,376 SF

      Well-Maintained Office Building in Horseheads

      Centrally located office building with expansion potential in Horseheads, NY.
      2860 Westinghouse Road, Horseheads, NY 14845
      View Details
    • $199,000

      Turnkey Commercial Property in Horseheads

      Standalone commercial property with excellent visibility and easy highway access.
      829 W Broad St, Horseheads, NY 14845
      View Details
    • $1,950,000
      149,079 SF

      Former Ames Plaza Investment Opportunity

      Versatile storefronts with rental potential and established land lease.
      3162 Lake Road, Horseheads, NY 14845
      View Details
    • $165,000
      3,285 SF

      Charming Horseheads Home with Rental Potential

      Spacious home with flexible layout, large garage, and outdoor features.
      31 Lorraine Boulevard, Horseheads, NY 14845
      View Details
    • $699,000
      2,872 SF

      COMMERCIAL - HORSEHEADS, NY

      435 Sing Sing Road, HORSEHEADS, NY 14845
      View Details
    • $275,000
      2,376 SF

      Professional Office Space in Horseheads

      Well-maintained office building with expansion potential in Horseheads, NY.
      2860 Westinghouse Road, Horseheads, NY, USA, Horseheads, NY 14845
      View Details
    • Contact for pricing
      860,000 SF

      860,000 SF Industrial Facility

      Mission-critical industrial facility in Horseheads, NY, with long-term tenants.
      100-200 Westinghouse Cir, Horseheads, NY 14845
      View Details
    • $580,000

      19-Unit Multifamily Property For Sale

      19-unit multifamily property located in the Southern Tier of New York.
      3554 Watkins Rd, Horseheads, NY 14845
      View Details
    • $550,000
      11,239 SF

      Turnkey Convenience Store with Beer License

      Fully equipped store with warehouse, residence, and high visibility.
      3165 Lake Rd. Horseheads NY 14845, Horseheads, NY 14845
      View Details

    FAQs

    What type of property is this?
    Warehouse - 116,000 SF warehouse with 30,000 SF office space.
    Where is this warehouse located?
    The property is located at 224 N Main Street Horseheads, NY.
    What is the asking price?
    The asking price for this property is $12,500,000.
    What are key features of this property?
    This property features: 88.53 Acres; 116,000 Total SF; Heavy Power, 3‑Phase
    (713) 744-7431
    We can help!
    Listing Contact
    Justin Tunnell, SIOR
    Real Estate License ID: TX #498388
    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

    Thank You for Inquiry
    224 N Main Street, Horseheads, NY 14845
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!