Multi-Office
For Sale
$999,999
226 Colonial Drive, Horseheads, NY 14845
A reception area, conference room, private offices, and open workspace support a range of office configurations.
Property Size5,076 SF
Lot Size2.00 Acres
Price / SF$197.01
Days on Market378
Property Features for 226 Colonial Drive
General Information
Standard status
Active
Size
5,076 SF
Total Parking Spaces
29
Lot size
2.00 Acres
Property subtype
Commercial
Zoning
Com 1, Commercial
Additional Details
Property Use
Office
Taxes and HOA fees
Annual Taxes
$30,304
Amenities
lobby/reception area
conference room
kitchenette
Building Details
Building Size
5,076 SF
Year Built
1994
Buildings
1
Stories
1
Abandoned
No
Listed By:
Heidi Westcott
(315) 796-9034
Source:
Deeprootedrealty
Added: Oct 14, 2025
Changed: Oct 25
Last Checked: Oct 26 at 3:43AM
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 5,076-square-foot office building, constructed in 1994, includes a lobby and reception area, conference room, and open office space arranged with eight cubicles. A separate office area is configured as a private storefront, alongside three private offices, a kitchenette, and two restrooms with multiple stalls. Major building systems receive regular service, and the property is zoned Com 1, Commercial.
The site encompasses 2 acres in Big Flats and provides parking, with additional land available for expansion. The address is 226 Colonial Drive in Horseheads, New York.
The site encompasses 2 acres in Big Flats and provides parking, with additional land available for expansion. The address is 226 Colonial Drive in Horseheads, New York.
Key Highlights
- 5,076 SQFT office building on 2 acres
- Eight cubicles in the open office area
- Conference room, three private offices, kitchenette, and two multi‑stall restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,242
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$964,840
$964.8K
Cap Rate 7%
$689,171
$689.2K
Cap Rate 9%
$536,022
$536.0K
Market Conditions
NOI Build-Up for 5,076 SF
Gross rent
$73.1K $14.40/SF
− Vacancy
−$8.8K −$1.73/SF
EGI
$64.3K $12.67/SF
− OpEx
−$16.1K −$3.17/SF
NOI
$48.2K $9.50/SF
Area
Chemung County, NY
Vacancy
12.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$964,840
Cap Rate 7%
$689,171
Cap Rate 9%
$536,022
Alternative Uses
Best Use
Office B
$689.2K
$603.0K – $804.0K
NOI $48,242 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$46.21M
$40.43M – $53.91M
NOI $3,234,493 @ 7.0% cap · market cap 323.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
Explore this area
Business Placement
Demographics for 14845, NY
20,628
Population
9,370
Households
2.2
Avg Household Size
46
Median Age
35%
College-Educated
96%
High-School Grad
78.2 sq mi
ZIP Area
264
Density / Sq Mi
$76,617
Median Household Income
$45,909
Median Earnings
$1,175
Median Rent
$183,900
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - A reception area, conference room, private offices, and open workspace support a range of office configurations.
Where is this office building located?
The property is located at 226 Colonial Drive Horseheads, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: 5,076 SQFT office building on 2 acres; Eight cubicles in the open office area; Conference room, three private offices, kitchenette, and two multi‑stall restrooms
