10-Bay Heated Auto
For Sale
$625,000
25 E Pulteney St, Corning, NY 14830
Service-oriented commercial building with offices, wash bays, and storefront potential.
Property Size5,930 SF
Price / SF$105.40
Days on Market51
Property Features for 25 E Pulteney St
General Information
Standard status
Active
Size
5,930 SF
Automotive
Service Bays
10
Car Wash Bays
2
Amenities
heated bays
automatic overhead doors
offices
basement storage
Building Details
Year Built
1985
Listing Agency:
Howard Hanna Corning
(607) 481-9535
Listed By:
Joseph Long · License #10401344891
Source:
Skinnercnyrealty
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 25 at 5:28AM
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 Howard Hanna Corning
Investment Insights
Based on property information with market context.
Located at 25 E Pulteney Street in Corning City’s Gaffer District, this 5,930 SF commercial property is configured for automotive service use. The building includes ten heated bays, 10-foot automatic overhead doors, and two bays equipped for washing, supporting year-round operations.
Six offices add administrative and customer-facing space, with potential for storefront or retail use. Substantial basement storage expands the functional footprint. The property also offers a layout that may support adaptive reuse concepts such as a wine tasting venue or brewery, subject to required approvals.
Six offices add administrative and customer-facing space, with potential for storefront or retail use. Substantial basement storage expands the functional footprint. The property also offers a layout that may support adaptive reuse concepts such as a wine tasting venue or brewery, subject to required approvals.
Key Highlights
- Ten heated automotive service bays
- 10‑foot automatic overhead doors
- Two wash‑equipped bays
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
$57,264
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
9.16%
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%
$1,145,280
$1.1M
Cap Rate 7%
$818,057
$818.1K
Cap Rate 9%
$636,267
$636.3K
Market Conditions
NOI Build-Up for 5,930 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
$85.4K $14.40/SF
− Vacancy
−$3.6K −$0.60/SF
EGI
$81.8K $13.80/SF
− OpEx
−$24.5K −$4.14/SF
NOI
$57.3K $9.66/SF
Area
Steuben County, NY
Vacancy
4.20%
Lease Rate
$14.40 /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%
$1,145,280
Cap Rate 7%
$818,057
Cap Rate 9%
$636,267
Alternative Uses
Best Use
Retail
$818.1K
$715.8K – $954.4K
NOI $57,264 @ 7.0% cap · market cap 9.16%
Second Best
Industrial
$523.9K
$458.5K – $611.3K
NOI $36,676 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$1.45M
$1.26M – $1.69M
NOI $101,195 @ 7.0% cap · market cap 16.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Service bays
Location Intelligence
Trade Area within ½ mile
947
Businesses Nearby
87k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 71%
Shops & Services 15%
Dining 6%
Hotels & Casinos 5%
Wegmans
Groceries
62,003 visits/mo
0.4 miles
Sunoco
Shops & Services
8,094 visits/mo
0.3 miles
Burger King
Dining
5,414 visits/mo
0.5 miles
H&R Block
Shops & Services
3,773 visits/mo
0.1 miles
Zoom Tan
Beauty & Spa
2,726 visits/mo
0.1 miles
Demographics for 14830, NY
18,949
Population
9,324
Households
2
Avg Household Size
40
Median Age
41%
College-Educated
96%
High-School Grad
90.6 sq mi
ZIP Area
209
Density / Sq Mi
$73,831
Median Household Income
$48,331
Median Earnings
$997
Median Rent
$168,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Goodyear Auto Service — 20 Denison Pkwy W, Corning, NY 14830
- Tire World of Corning LLC — 113 Chestnut St, Corning, NY 14830
- J&T's Auto Cafe — 5 Bridge St, Corning, NY 14830
- Cowboy Up Automotive & Small Engine Repair — 104 W William St, Corning, NY 14830
- Corning Imported Auto LLC — 27 W Pulteney St, Corning, NY 14830
Frequently Asked Questions
What type of property is this?
Auto shop - Service-oriented commercial building with offices, wash bays, and storefront potential.
Where is this auto shop located?
The property is located at 25 E Pulteney St Corning, NY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Ten heated automotive service bays; 10‑foot automatic overhead doors; Two wash‑equipped bays
