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    Finger Lakes Investment Opportunity Title is generated by Realmo AI

    2400 County Road 21, Watkins Glen, NY 14891

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    For Sale
    $360,000

    MULTI_FAMILY - Watkins Glen, NY

    Property size:
    403 SF
    Lot size:
    5.00 Acres
    Price / SF:
    $893/SF
    Added:
    Feb 26, 2026
    Days on Market:
    83
    Last Refresh:
    May 20 at 12:06 am

    Property Features for 2400 County Road 21

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 4, Bathroom 1
    Appliances
    ElectricWaterHeater
    Standard status
    Active
    APN
    443000-073-000-0001-036-002-0000
    Size
    403 SF
    Lot size
    5.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4500

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Ductless (Heating), Electric (Heating)
    Cooling system
    Ductless
    Water source
    Well

    Building Details

    Year built
    2022
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Hardwood, Varies
    Building materials
    LogSiding

    We can help!

    Listing Contact
    Tiffany Bechtold
    Tiffany Bechtold

    Listing agent Tiffany Bechtold License #10401311914

    Listing office Warren Real Estate of Ithaca Inc. (Downtown) 140 Seneca Way Suite 200, Ithaca, NY

    Listing date Feb 26, 2026

    MLS# R1663787 Listing URL

    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.

    HighLights

    • Two charming, recently built (2022) cabins on 5 acres, offering flexibility for short‑term rentals or a private compound.
    • Prime location minutes from downtown Watkins Glen, Seneca Lake, wineries, hiking trails, and Watkins Glen International.
    • Each cabin features 2 bedrooms, 1 bathroom, and a spacious loft, maximizing occupancy and appeal.
    • Impressive circular driveway provides exceptional accessibility and ample parking for multiple vehicles, ideal for race teams and guests with trailers.
    • Significant income potential due to proximity to Watkins Glen International and Finger Lakes tourism.
    • Convenient access to regional attractions like the Corning Museum of Glass, enhancing year‑round desirability.

    Overview

    This property presents a rare investment opportunity in the Finger Lakes region. Situated on 5 acres, it is located minutes from downtown Watkins Glen and close to Watkins Glen International. The property includes two cabins, suitable for short-term rentals or a private retreat. Each cabin features 2 bedrooms, 1 full bathroom, and a spacious loft area that can serve as additional sleeping space or a recreational area. The interiors are designed to provide a cozy Finger Lakes experience. The property's layout includes a circular driveway that wraps around both cabins, providing accessibility and ample parking for multiple vehicles, race cars, and equipment, particularly convenient during events at Watkins Glen International. The location provides access to Seneca Lake, local wineries, hiking trails, and the dining and shopping options in Watkins Glen. The Corning Museum of Glass is also nearby. This property offers potential due to its proximity to race season activities, outdoor recreation, and Finger Lakes tourism. The property size is 403 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Auto Repair Shop Auto Parts Store HVAC Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Watkins Glen
    County
    Schuyler
    State
    New York
    Longitude
    -76.9739621
    Latitude
    42.3542925

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    FAQs

    What type of property is this?
    Short term rental property - Two cabins on 5 acres near Watkins Glen International.
    Where is this short term rental property located?
    The property is located at 2400 County Road 21 Watkins Glen, NY.
    What is the asking price?
    The asking price for this property is $360,000.
    What are key features of this property?
    This property features: Two charming, recently built (2022) cabins on 5 acres, offering flexibility for short‑term rentals or a private compound.; Prime location minutes from downtown Watkins Glen, Seneca Lake, wineries, hiking trails, and Watkins Glen International.; Each cabin features 2 bedrooms, 1 bathroom, and a spacious loft, maximizing occupancy and appeal.
    (609) 410-8003
    We can help!
    Listing Contact
    Tiffany Bechtold
    Tiffany Bechtold
    Real Estate License ID: 10401311914
    Learn More
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    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.

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