Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    305 Pennsylvania Ave Elmira, NY 14904

    Sponsored
    For Sale
    $1,400,000

    High-Yield, Net Lease Auto Parts Store

    Property size:
    7,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 7,000 square foot, single-tenant retail property in Elmira, NY, occupied by a credit-rated Advance Auto Parts. The property boasts a strong 6.50% cap rate and a substantial net operating income (NOI) of $91,000. The lease, classified as NN+, features a remaining term of 8.1 years with a lease expiration date of December 31, 2032. The tenant, a Fortune 500 company, has a long-standing operational history at this location, exceeding 20 years. The property includes 35 parking spaces and sits on a 1.07-acre lot. A new roof was installed in 2023, minimizing future maintenance responsibilities. The lease includes rent bumps of 4% in 2027 and 10% in an option period. This Class B building, constructed in 2002, benefits from its strategic location on Pennsylvania Ave, enjoying high visibility and traffic volume. The property's proximity to other major retailers further enhances its appeal. This is an ideal investment for those seeking a low-maintenance, high-return asset with a long-term, credit-worthy tenant. The property is offered for sale at $1,400,000.

    Property Features for 305 Pennsylvania Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    7,000 SF
    Class
    B
    Lot Size
    46,609 SF

    Building Details

    Year Built
    2002
    Buildings
    1
    Units
    1

    HighLights

    • Corporate guarantee backed by BBB- S&P credit rating.
    • Over 9 years remaining on the base lease term.
    • New roof (2023); minimal landlord responsibilities.
    • Tenant operating at this location for over 20 years.
    • Excellent access to Clemens Center Pkwy and Pennsylvania Ave (20,000 VPD).
    • Strong tenant mix nearby including Pizza Hut, Aldi, Dollar Tree, Mobil, Big Lots, and Walgreens.
    Property Profile Location Intelligence

    Current Use by Public Records

    UPS Access Point ... Shipping And Mailing Service Advance Auto Parts Auto Parts Store

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elmira
    County
    Chemung
    State
    New York
    Longitude
    -76.7998739
    Latitude
    42.0835253

    Nearby Similar for Sale

    • $169,900
      0.22 Acres

      Elmira City Commercial Opportunity

      Versatile commercial property with office spaces and ample parking.
      357 East 5Th St, Elmira, NY 14901
      View Details
    • $675,000
      21,257 SF

      Iconic Elmira Commercial Redevelopment Opportunity

      Expansive property with redevelopment potential for various commercial uses.
      1050 Pennsylvania Ave, Elmira, NY 14904
      View Details
    • New
      $178,000
      Pending

      Elmira Turn-Key Investment Property

      Turn-key 3-unit property with immediate rental income in Elmira.
      615 W Gray St, Elmira, NY 14905
      View Details
    • $114,900
      1,769 SF

      Elmira Income-Generating Two-Unit Property

      Meticulously maintained two-unit property near Elmira College.
      912 Magee St, Elmira, NY 14901
      View Details
    • $129,000
      Pending

      Elmira Multifamily Investment Opportunity

      Move-in ready duplex in a convenient Elmira location.
      722 Seneca Pl St, Elmira, NY 14904
      View Details
    • $99,900
      Pending

      Turnkey Restaurant and Mixed-Use Building

      Established restaurant with mixed-use building for sale in Elmira.
      414-416 W Washington Ave, Elmira, NY 14901
      View Details
    • $285,000
      Pending

      Well-Maintained Four-Unit Income Property

      Solid income producer with coin laundry in Elmira Heights.
      289 Mulberry Ave, Elmira, NY 14903
      View Details
    • New
      $115,000
      2,201 SF

      Elmira Office Building For Sale

      One-story brick office building in Elmira's Near Westside neighborhood.
      406 W Church St, Elmira, NY 14901
      View Details
    • $450,000
      8,761 SF

      Elmira Restaurant Opportunity

      Fully operational restaurant for sale with equipment and additional lot.
      500 S Main St, Elmira, NY 14904
      View Details
    • $128,000
      Pending

      Elmira Multifamily Property For Sale

      Multifamily property with recent updates and income potential.
      316 W Washington Ave, Elmira, NY 14901
      View Details
    • $189,999
      2,720 SF

      Elmira Duplex: Income and Growth

      Duplex in desirable location near medical facilities with income potential.
      1103-1105 College Ave, Elmira, NY 14901
      View Details
    • $164,999
      2,720 SF

      Elmira Duplex: Investment Opportunity

      Well-kept duplex near medical facilities, offering immediate cash flow.
      1101 College Ave, Elmira, NY 14901
      View Details

    FAQs

    What type of property is this?
    Individual retail property - High-Yield, Net Lease Auto Parts Store
    Where is this individual retail property located?
    The property is located at 305 Pennsylvania Ave Elmira, NY.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Corporate guarantee backed by BBB- S&P credit rating.; Over 9 years remaining on the base lease term.; New roof (2023); minimal landlord responsibilities.
    Request Owner's contact information
    305 Pennsylvania Ave Elmira, NY 14904
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    305 Pennsylvania Ave
    Elmira, NY 14904
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    305 Pennsylvania Ave Elmira, NY 14904
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.