Office Building with Open
226 Colonial Drive, Horseheads, NY 14845
For Sale
$999,999
CommercialSale, Horseheads, NY
Property Size5,076 SF
Lot Size2.00 Acres
Price / SF$197.01
Days on Market395
Property Features for 226 Colonial Drive
General Information
Property type
Property subtype
Zoning
Zoning description
Parking
Lot features
Elementary school district
Middle school district
High school district
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Amenities
lobby/reception area
conference room
kitchenette
Building Details
Year built
Floors in Building
Flooring type
Roof type
Listing Agency:
Signature Properties
(607) 796-9817
Listed By:
Lauren Groth · License NY #10301222236
(607) 483-8219
Added: Oct 14, 2025
Changed: Oct 22
Last Checked: Nov 12 at 7:06PM
MLS# R1644660
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 5,076-square-foot office building, constructed in 1994, combines a welcoming reception area with a conference room, open workspace configured with 8 cubicles, storage, and a separate private storefront-style office area. Three additional private offices, a kitchenette, and two restrooms with multiple stalls support a range of professional configurations. Carpet flooring, forced-air natural gas heat, central air conditioning, and regularly serviced major systems are in place.
The property occupies 2 acres in Horseheads, New York, with on-site parking and room on the site for future expansion. Com 1 zoning, septic service, and an asphalt shingle roof are also included among the property’s existing features.
The property occupies 2 acres in Horseheads, New York, with on-site parking and room on the site for future expansion. Com 1 zoning, septic service, and an asphalt shingle roof are also included among the property’s existing features.
Key Highlights
- 5,076‑square‑foot office building constructed in 1994
- 2‑acre site with on‑site parking and room for future expansion
- Open office area currently configured with 8 cubicles
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
Office A
$939.8K
$822.3K – $1.10M
NOI $65,785 @ 7.0% cap · market cap 6.58%
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
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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
$183,900
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Chemung County, NY
Properties on Market for Office buildings in Chemung County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Flexible layout includes reception, conference, private offices, and an open work area.
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‑square‑foot office building constructed in 1994; 2‑acre site with on‑site parking and room for future expansion; Open office area currently configured with 8 cubicles
