Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    241-243 Erie St Waverly, NY 14892

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Mixed-use property with warehouses, offices, kitchen, and flexible rental options.

    Property size:
    12,865 SF
    Lot size:
    34,848.00 Acres

    Property Features for 241-243 Erie St

    General Information

    Standard status
    Active
    Size
    12,865 SF
    Lot size
    34,848.00 Acres

    Building Details

    Year built
    1950

    We can help!

    Listing Contact
    Tiffany Glielmi
    Source: Crexi

    Listing Agency: Coldwell Banker Preferred Properties Listing Agent: Tiffany Glielmi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Versatile Income-Producing Commercial Property

    This income-producing property includes multiple insulated warehouses, garage units, office suites, and a commercial kitchen. The property offers flexibility for investors or owner-users. Improvements include LP radiant heat throughout most buildings, with backup heat in offices and restrooms. Multiple overhead doors range in size from 7'x7' to 16'x20'. Man-door access and a concrete loading apron are present. RV hookups are available. Ceiling heights vary up to 16'. A 30'x30' commercial kitchen and prep room is on site. Heated office spaces include restrooms, storage areas, and lobby space. Several units are rented on month-to-month or short-term leases. Some utilities are tenant-paid. Additional vacant or owner-occupied space allows for upside, repositioning, or owner occupancy. The property is suitable for contractors, storage, light industrial, food production, or mixed commercial use. The property size is 12865 square feet.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Waverly
    County
    Tioga
    State
    New York
    Longitude
    -76.533507
    Latitude
    42.000429

    Nearby Similar for Sale

    • $899,000
      0.80 Acres

      Waverly Commercial Property For Sale

      Income-producing property with warehouses, offices, kitchen, and flexible spaces.
      241-243 Erie St, Waverly, NY 14892
      View Details
    • New
      $424,900
      11,860 SF

      Waverly, NY Self-Storage Facility

      Turnkey 65-unit self-storage facility with additional business space.
      437 Broad Street Ext, Waverly, NY 14892
      View Details
    • New
      $146,775
      2,290 SF

      Updated Duplex in Waverly, NY

      Renovated duplex, ideal for investment or owner-occupancy.
      472 Waverly St, Waverly, NY 14892
      View Details
    • $625,000
      0.11 Acres

      Waverly Mixed-Use Investment Opportunity

      High-performing mixed-use building with strong cash flow and upside potential.
      367 Broad St, Waverly, NY 14892
      View Details
    • $269,000
      0.14 Acres

      Waverly Commercial Property with Income

      Turnkey commercial property with established business, apartment, and vacant lot.
      210-220 Broad Street Ext, Waverly, NY 14892
      View Details
    • $1,399,000
      11,660 SF

      Former Market with Retail Space

      Retail building with equipment, furniture, and fixtures included.
      118 Broad St, Waverly, NY 14892
      View Details
    • $325,000
      Pending

      Metal Fabrication Business For Sale

      Established metal fabrication and welding business with equipment and inventory.
      116 Howard St, Waverly, NY 14892
      View Details

    FAQs

    What type of property is this?
    Flex space - Mixed-use property with warehouses, offices, kitchen, and flexible rental options.
    Where is this flex space located?
    The property is located at 241-243 Erie St Waverly, NY.
    What are key features of this property?
    This property features: - Income-producing property featuring warehouses, garage units, office suites, and a commercial kitchen.; - Exceptional flexibility for investors or owner-users due to diverse unit types.; - Multiple overhead doors (ranging from 7'x7' to 16'x20') and concrete loading apron.
    Request Owner's contact information
    241-243 Erie St Waverly, NY 14892
    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.
    241-243 Erie St
    Waverly, NY 14892
    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
    241-243 Erie St Waverly, NY 14892
    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

    We can help!
    Listing Contact
    Tiffany Glielmi
    Real Estate License ID: RS356243
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!