Retail Storefront
For Sale
$70,000
Pending
308 Fulton Street, Elmira, NY 14904
CommercialSale, Elmira, NY
Property Size320 SF
Lot Size0.06 Acres
Days on Market52
Property Features for 308 Fulton Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Business
Zoning description
Business
Parking
8
Lot features
Rectangular, Rectangular Lot
Elementary school district
Elmira
Middle school district
Elmira
High school district
Elmira
Subdivision
Elmira-City-070400
Standard status
Pending
APN
070400-099-007-0002-021-000-0000
Size
320 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
1031
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Space Heater
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Roof type
Flat, Membrane, Rubber
Listing Agency:
Howard Hanna Elmira
(607) 733-2700
Listed By:
Patrick J. Beckwith · License #40BE0983501
(607) 738-5550
Added: Jun 30
Changed: Aug 19
Last Checked: Aug 20 at 12:06AM
MLS# R1694999
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 for-sale retail storefront property offers a compact footprint suited for smaller-scale retail uses. The asset is identified as a storefront within the listing’s commercial real estate classification, with a total property size provided as 320 square feet. The property sits on a small lot measuring 0.0643 acres, and it is listed under Business zoning.
The property is located at 308 Fulton Street in Elmira, New York 14904, within Chemung County. With a straightforward storefront configuration and a Business zoning designation, it is positioned for occupiers or buyers seeking a small commercial address within the city.
For tenants, the size and storefront nature may fit service-oriented retail concepts that can operate within a smaller enclosed space. For buyers, the property provides an entry point to acquire a small retail storefront in a Business-zoned setting in Elmira. Interested parties should review the zoning requirements under the provided “Business” designation to confirm fit for their specific intended use.
The property is located at 308 Fulton Street in Elmira, New York 14904, within Chemung County. With a straightforward storefront configuration and a Business zoning designation, it is positioned for occupiers or buyers seeking a small commercial address within the city.
For tenants, the size and storefront nature may fit service-oriented retail concepts that can operate within a smaller enclosed space. For buyers, the property provides an entry point to acquire a small retail storefront in a Business-zoned setting in Elmira. Interested parties should review the zoning requirements under the provided “Business” designation to confirm fit for their specific intended use.
Key Highlights
- Year built: 1950
- Heating includes natural gas and space heater
- Public water service
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
$2,473
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
3.53%
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%
$49,460
$49.5K
Cap Rate 7%
$35,329
$35.3K
Cap Rate 9%
$27,478
$27.5K
Market Conditions
NOI Build-Up for 320 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
$3.8K $12.00/SF
− Vacancy
−$307 −$0.96/SF
EGI
$3.5K $11.04/SF
− OpEx
−$1.1K −$3.31/SF
NOI
$2.5K $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%
$49,460
Cap Rate 7%
$35,329
Cap Rate 9%
$27,478
Alternative Uses
Best Use
Retail
$35.3K
$30.9K – $41.2K
NOI $2,473 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.91M
$2.55M – $3.40M
NOI $203,908 @ 7.0% cap · market cap 291.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
766
Businesses Nearby
82k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 74%
Groceries 19%
Dining 4%
Electronics 2%
Aldi
Groceries
15,225 visits/mo
0.3 miles
Dollar Tree
Shops & Services
13,672 visits/mo
0.3 miles
Byrne Dairy
Shops & Services
12,619 visits/mo
0.4 miles
Dollar General
Shops & Services
8,537 visits/mo
0.3 miles
Kwik Fill
Shops & Services
6,734 visits/mo
0.4 miles
Demographics for 14904, NY
15,102
Population
7,629
Households
2
Avg Household Size
39
Median Age
17%
College-Educated
88%
High-School Grad
6.4 sq mi
ZIP Area
2,360
Density / Sq Mi
$54,563
Median Household Income
$35,128
Median Earnings
$1,005
Median Rent
$87,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Small retail storefront available for sale in Elmira’s Business-zoned district.
Where is this storefront property located?
The property is located at 308 Fulton Street Elmira, NY.
What is the asking price?
The asking price for this property is $70,000.
What are key features of this property?
This property features: Year built: 1950; Heating includes natural gas and space heater; Public water service
