Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    955 Hoffman St Elmira, NY 14905

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $199,000

    Commercial building with a large 1.2 acre lot.

    Type:Commercial
    Lot size:
    1.20 Acres
    Added:
    Apr 24, 2026
    Days on Market:
    5
    Last Refresh:
    Apr 24 at 5:59 pm

    Property Features for 955 Hoffman St

    General Information

    Standard status
    Active
    Lot size
    1.20 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1970

    We can help!

    Listing Contact
    Keith C. Gustin
    Keith C. Gustin

    Listing agent Keith C. Gustin License #40GU1174840

    Listing office RealtyUSA.com

    Listing date Apr 24, 2026

    Source Elliman

    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 RealtyUSA.com

    Overview

    Commercial Building on Large Lot

    This is a well-maintained commercial building situated on a large 1.2 acre lot, offering many possibilities for its use. The location has a bike score of 51, indicating it is bikeable, and a walk score of 50, suggesting it is somewhat walkable.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center 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
    -76.8291144
    Latitude
    42.0970096

    Nearby Similar for Sale

    • $350,000
      8,761 SF

      Elmira Restaurant Opportunity

      Fully operational restaurant with equipment, furniture, and additional parking.
      500 S Main Street, Elmira, NY 14904
      View Details
    • $99,900
      4,988 SF

      Versatile Commercial Space in Elmira

      Adaptable commercial space in downtown Elmira with high visibility.
      210 W Water Street, Elmira, NY 14901
      View Details
    • $599,000
      21,257 SF

      Spacious Elmira Commercial Redevelopment Opportunity

      Over 20,000 sq ft property suitable for redevelopment.
      1050 Pennsylvania Ave, Elmira, NY 14904
      View Details
    • $379,000
      2,850 SF

      Commercial Land on Miracle Mile

      Land and building opportunity on Corning Road, Elmira, NY.
      2454 Corning Road, Elmira, NY 14903
      View Details
    • $575,000
      3,960 SF

      Elmira Multifamily Investment Opportunity

      Eight-unit apartment complex in West Elmira, excellent investment property.
      919-921 W 1st Street, Elmira, NY 14905
      View Details
    • $96,000
      2,600 SF

      Elmira Commercial Special-Purpose Building

      Special-purpose commercial building suitable for various uses in Elmira.
      115 Westside Avenue, Elmira, NY 14901
      View Details
    • $164,900

      Adaptable Commercial Space in Elmira

      Highly visible corner property with flexible space and parking.
      357 East 5th Street, Elmira City, NY 14901
      View Details
    • $89,900
      2,584 SF

      Well-Maintained Two-Unit Multifamily Property

      Updated two-unit property with long-term tenants and separate utilities.
      372 Diven Avenue, Elmira, NY 14901
      View Details
    • $135,000
      2,426 SF

      Elmira Commercial Space Available

      Commercial space with parking, overhead door, and storefront display.
      1252 College Avenue, Elmira, NY 14901
      View Details
    • $89,900
      5,355 SF

      Elmira Four-Unit Multifamily Property

      Solid four-unit property with income potential in Elmira, NY.
      1015 Lake Street, Elmira, NY 14901
      View Details
    • $269,900
      4,658 SF

      Turnkey Restaurant with Apartment Included

      Established restaurant with apartment for sale in Elmira, NY.
      1157 N Main Street, 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 Avenue, Elmira, NY 14901
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial building with a large 1.2 acre lot.
    Where is this commercial land located?
    The property is located at 955 Hoffman St Elmira, NY.
    What is the asking price?
    The asking price for this property is $199,000.
    What are key features of this property?
    This property features: 1.2 acre lot provides ample space.; Commercial building offers various opportunities.; Many possibilities for business ventures.
    (607) 739-7899
    We can help!
    Listing Contact
    Keith C. Gustin
    Keith C. Gustin
    Real Estate License ID: 40GU1174840
    Learn More
    Request Owner's contact information
    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.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!