6-Bay Auto Shop with
For Sale
Under Contract
$450,000
2410 Corning Road, Horseheads, NY 14845
CommercialSale, Horseheads, NY
Property Size4,542 SF
Lot Size0.75 Acres
Price / SF$99.08
Days on Market50
Property Features for 2410 Corning Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Comm
Zoning description
Commercial
Parking
25
Lot features
Irregular Lot
Elementary school district
Horseheads
Middle school district
Horseheads
High school district
Horseheads
Subdivision
Horseheads-073489
Standard status
Active Under Contract
APN
073489-069-009-0003-001-001-0000
Size
4,542 SF
Lot size
0.75 Acres
Taxes and HOA fees
Tax Annual Amount
5335
Utilities
Heating system
Forced Air, Natural Gas, Oil
Amenities
customer waiting room
office
employee bathroom
large storage area
Building Details
Year built
1970
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Block, Masonry, MetalSiding, Concrete
Listing Agency:
Howard Hanna Horseheads
(607) 739-1444
Listed By:
Steven Martin McNamara · License #10401226515
(607) 425-5100
Added: Jul 24
Changed: Sep 11
Last Checked: Sep 11 at 2:06PM
MLS# R1701595
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.
Investment Insights
Based on property information with market context.
This 4,542-square-foot auto shop occupies a 0.75-acre lot and includes six service bays equipped with lifts. The interior provides a customer waiting area, office, employee bathroom, and a large storage section. Concrete flooring and block, masonry, metal siding, and concrete construction materials are present throughout the property. Heating systems include natural gas, oil, and forced air, and the building was constructed in 1970.
Located on NY14 in Horseheads, the property includes on-site parking and commercial zoning. The building was previously used as a muffler shop by a national chain and has a configuration centered on automotive service operations.
Located on NY14 in Horseheads, the property includes on-site parking and commercial zoning. The building was previously used as a muffler shop by a national chain and has a configuration centered on automotive service operations.
Key Highlights
- Six service bays equipped with lifts
- 4,542 square feet of building area
- 0.75‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,101
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.80%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$702,020
$702.0K
Cap Rate 7%
$501,443
$501.4K
Cap Rate 9%
$390,011
$390.0K
Market Conditions
NOI Build-Up for 4,542 SF
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.
Gross rent
$54.5K $12.00/SF
− Vacancy
−$4.4K −$0.96/SF
EGI
$50.1K $11.04/SF
− OpEx
−$15.0K −$3.31/SF
NOI
$35.1K $7.73/SF
Area
Chemung County, NY
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$702,020
Cap Rate 7%
$501,443
Cap Rate 9%
$390,011
Alternative Uses
Best Use
Retail
$501.4K
$438.8K – $585.0K
NOI $35,101 @ 7.0% cap · market cap 7.80%
Second Best
Industrial
$327.7K
$286.7K – $382.3K
NOI $22,939 @ 7.0% cap · market cap 5.10%
Theoretical Best
Multifamily LT 5
$41.35M
$36.18M – $48.24M
NOI $2,894,221 @ 7.0% cap · market cap 643.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Service bays
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
26k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 70%
Shops & Services 26%
Home Improvements & Furnishings 4%
Arby's
Dining
10,153 visits/mo
0.3 miles
Dunkin' Donuts
Dining
8,202 visits/mo
0.4 miles
U-Haul Moving & Storage Of Elmira
Shops & Services
2,238 visits/mo
0.4 miles
Ferrario Ford
Shops & Services
2,037 visits/mo
0.3 miles
M&T Bank
Shops & Services
1,428 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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- Steve's American Lifetime Muffler Inc. — 2372 Corning Rd, Elmira, NY 14903
- Steves American Lifetime — 2372 corning rd, elmira, ny 14903
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial building with service bays, lifts, customer waiting area, office, employee bathroom, and substantial storage.
Where is this auto shop located?
The property is located at 2410 Corning Road Horseheads, NY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Six service bays equipped with lifts; 4,542 square feet of building area; 0.75‑acre lot
