Southport Pizzeria
For Sale
$139,900
600 Pennsylvania Ave, Elmira, NY 14904
Turnkey restaurant opportunity in a proven location.
Property Size1,320 SF
Price / SF$105.98
Days on Market313
Property Features for 600 Pennsylvania Ave
General Information
Standard status
Active
Size
1,320 SF
Listing Agency:
Russell Real Estate Solutions
Listed By:
Abby M. Russell · License #10491212049
(607) 846-0456
Source:
Skinnercnyrealty
Added: Nov 27, 2025
Changed: Oct 3
Last Checked: Oct 4 at 1:27PM
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 Russell Real Estate Solutions
Investment Insights
Based on property information with market context.
This property presents an opportunity to acquire a long-established local pizzeria known for its pizza and Italian takeout. Situated on a corner lot, the property benefits from ample parking. The sale includes all existing kitchen equipment, offering a turnkey setup. The property is being sold as is, with utilities currently off and the building winterized. This location offers a start-up opportunity in a well-known location, suitable for relaunching under the existing name or introducing a new concept.
Key Highlights
- Well‑established pizzeria in Southport with a long‑standing reputation.
- Turnkey operation with all existing kitchen equipment included.
- Prominent corner lot location with ample parking.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,201
Cap Rate
7.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$204,020
$204.0K
Cap Rate 7%
$145,729
$145.7K
Cap Rate 9%
$113,344
$113.3K
Market Conditions
NOI Build-Up for 1,320 SF
Gross rent
$15.8K $12.00/SF
− Vacancy
−$1.3K −$0.96/SF
EGI
$14.6K $11.04/SF
− OpEx
−$4.4K −$3.31/SF
NOI
$10.2K $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 Rate 5%
$204,020
Cap Rate 7%
$145,729
Cap Rate 9%
$113,344
Alternative Uses
Best Use
Specialty Retail
$194.7K
$170.4K – $227.2K
NOI $13,629 @ 7.0% cap · market cap 9.74%
Second Best
Retail
$145.7K
$127.5K – $170.0K
NOI $10,201 @ 7.0% cap · market cap 7.29%
Theoretical Best
Multifamily LT 5
$12.02M
$10.51M – $14.02M
NOI $841,121 @ 7.0% cap · market cap 601.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
21k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Byrne Dairy
Shops & Services
12,619 visits/mo
0.1 miles
Dollar General
Shops & Services
8,537 visits/mo
0.3 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Restaurant - Turnkey restaurant opportunity in a proven location.
Where is this restaurant located?
The property is located at 600 Pennsylvania Ave Elmira, NY.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Well‑established pizzeria in Southport with a long‑standing reputation.; Turnkey operation with all existing kitchen equipment included.; Prominent corner lot location with ample parking.
