Convenience Store with Vacant
406 WALNUT ST Elmira, NY 14901
406 WALNUT ST, Elmira, NY, 14901
Contact for pricing
For Sale
Contact for pricing
Sale includes two buildings: an operating convenience store and a vacant storefront, plus ATM and lottery services.
Property Size2,372 SF
Price / SF$210.37
Days on Market90
Property Features for 406 WALNUT ST
General Information
- Standard status
- Active
- Size
- 2,372 SF
- Property subtype
- Business for Sale
Building Details
- Year Built
- 1956
Listing agency
Howard Hanna Corning Denison
(607) 684-3945
Listed by
Scott Swimley · License #10301216780
Source
Crexi
Added: Apr 23 Updated: Jul 20 at 5:48PM Checked: Jul 21 at 4:22AM
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 Denison
Investment Insights
Based on property information with market context.
This for-sale package includes two buildings with an operating convenience store and a vacant storefront. The first building is a well-established convenience store that has been serving the community for 9 years. The second building is currently vacant and could support a variety of retail uses.
The property includes ATM and lottery services on site, which are established as additional revenue streams. A built-in fire wall separates the two buildings for safety.
Also included in the sale are the land, buildings, business, and full inventory, offering a turnkey transition for an owner-operator or buyer looking to add a second storefront within the same site.
The property includes ATM and lottery services on site, which are established as additional revenue streams. A built-in fire wall separates the two buildings for safety.
Also included in the sale are the land, buildings, business, and full inventory, offering a turnkey transition for an owner-operator or buyer looking to add a second storefront within the same site.
Key Highlights
- Two‑building package with a 1956‑built operating convenience store plus a vacant storefront
- Operating convenience store has served the community for 9 years
- Vacant storefront offers flexibility for uses such as liquor store, restaurant, retail, or dispensary
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.2k | $14.40 |
| − Vacancy | −$1.5k | −$0.63 |
| EGI | $32.7k | $13.77 |
| − OpEx | −$8.2k | −$3.44 |
| NOI | $24.5k | $10.32 |
2,372 SF · lease $14.40/SF/yr · vacancy 4.40% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$349.9K
$306.1K – $408.2K
NOI $24,490 @ 7.0% cap · market cap 4.91%
Second Best
Retail
$261.9K
$229.1K – $305.5K
NOI $18,331 @ 7.0% cap · market cap 3.67%
Theoretical Best
Multifamily LT 5
$21.59M
$18.89M – $25.19M
NOI $1,511,469 @ 7.0% cap · market cap 302.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Grocery and convenience stores
Similar For Sale Nearby
FAQs
What type of property is this?
Grocery and convenience store - Sale includes two buildings: an operating convenience store and a vacant storefront, plus ATM and lottery services.
Where is this grocery and convenience store located?
The property is located at 406 WALNUT ST Elmira, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two‑building package with a 1956‑built operating convenience store plus a vacant storefront; Operating convenience store has served the community for 9 years; Vacant storefront offers flexibility for uses such as liquor store, restaurant, retail, or dispensary
