9 Park Pl Corning, NY 14830
Landmark property suited for hotel, venue, restaurant, or headquarters.
Property Features for 9 Park Pl
General Information
- Standard status
- Active
- Size
- 13,673 SF
- Property subtype
- Office
Building Details
- Year Built
- 1916
Listing office SVN Innovative Commercial Advisors (607) 621-0439
Listing date Oct 4, 2024
Source Crexi
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 SVN Innovative Commercial Advisors
Investment Insights
Based on property information with market context.
Key Highlights
- Historic estate "The Knoll," once owned by the Houghton Family, the largest residence in Corning, NY.
- Sweeping views of the city from its Southside Hill location.
- Updated with modern amenities including central air, three‑phase electric, and gas‑converted fireplaces.
Local Financial Insights For Hotel Hospitality
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 | $205.1k | $15.00 |
| − Vacancy | −$112.8k | −$8.25 |
| EGI | $92.3k | $6.75 |
| − OpEx | −$48.5k | −$3.54 |
| NOI | $43.8k | $3.21 |
