Auto Shop with Ten Heated
For Sale
$625,000
25 E Pulteney Street, Corning, NY 14830
COMMERCIAL - Corning, NY
Property Size5,930 SF
Lot Size0.29 Acres
Price / SF$105.40
Days on Market48
Property Features for 25 E Pulteney Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Rooms
Basement
Parking
10
Parking features
Paved or Surfaced
Lot features
Rectangular, Rectangular Lot
Elementary school district
Corning-Painted Post
Middle school district
Corning-Painted Post
High school district
Corning-Painted Post
Directions
Located on E Pulteney St. across from CCU.
Subdivision
Corning-City-460300
Standard status
Active
APN
460300-299-084-0001-047-000
Size
5,930 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Annual Amount
10089
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard, Hot Water(Heating)
Water source
Public
Amenities
heated bays
10-foot automatic overhead doors
six offices
basement storage
Building Details
Year built
1985
Floors in Building
1
Building materials
Block, MetalSiding
Roof type
Rubber, Metal, Membrane
Listing Agency:
Howard Hanna Corning
(607) 936-4663
Listed By:
Joseph Long · License #10401344891
(607) 481-9535
Added: Jun 23
Changed: Aug 4
Last Checked: Aug 9 at 6:06PM
MLS# R1688005
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.
Auto shop property set for service-oriented operations, currently built out with ten heated bays and two wash-equipped bays for year-round functionality. The bays include 10-foot automatic overhead doors, supported by six office spaces and substantial basement storage. The exterior is constructed with block and metal siding, and the roof includes rubber, metal, and membrane materials.
The building is served by hot water/baseboard heating using natural gas. Public water and public sewer are available, and parking is paved or surfaced. The property was built in 1985 and totals 5,930 square feet on a 0.2917-acre lot.
In addition to ongoing auto-related use, the flexible layout can support adaptive reuse concepts, including destination-style ideas such as a boutique wine tasting venue or brewery, subject to approvals. The property is also described as available for lease.
The building is served by hot water/baseboard heating using natural gas. Public water and public sewer are available, and parking is paved or surfaced. The property was built in 1985 and totals 5,930 square feet on a 0.2917-acre lot.
In addition to ongoing auto-related use, the flexible layout can support adaptive reuse concepts, including destination-style ideas such as a boutique wine tasting venue or brewery, subject to approvals. The property is also described as available for lease.
Key Highlights
- Ten heated bays with 10‑foot automatic overhead doors
- Two wash‑equipped bays for operational flexibility
- Six office spaces plus substantial basement storage
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
Specialty Retail
$1.10M
$958.7K – $1.28M
NOI $76,693 @ 7.0% cap · market cap 12.27%
Second Best
Office B
$1.07M
$936.6K – $1.25M
NOI $74,931 @ 7.0% cap · market cap 11.99%
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
Well-served
Demand for This Use
Explore this area
Business Placement
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Commercial-zoned auto shop with heated bays, wash-equipped bays, and paved parking.
Where is this auto shop located?
The property is located at 25 E Pulteney Street 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 bays with 10‑foot automatic overhead doors; Two wash‑equipped bays for operational flexibility; Six office spaces plus substantial basement storage
