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
    Back to Search

    2447 Corning Rd Elmira, NY 14903

    For Sale
    $655,000

    Prime Retail Opportunity: 6,250 SF Restaurant

    Property size:
    6,250 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 6,250-square-foot retail property, formerly a Ponderosa Steakhouse, presents a unique investment opportunity in Elmira, New York. Located at 2447 Corning Rd, this single-story building sits on a 2.004-acre lot with 203 feet of road frontage on NY State Route 14, offering tremendous visibility and accessibility. The property boasts a large open floor plan ideal for various uses, complemented by an adjoining banquet or meeting room. Ample parking is available with paved space for 84 cars, and additional expansion potential exists on the adjacent undeveloped land. A prominent roadside pylon sign enhances visibility. The property's strategic location along a primary commercial corridor, near a regional retail hub and I-86, ensures high traffic volume. The current tenant is a church, operating under a modified gross lease with annual increases. Importantly, the seller retains the right to terminate the lease upon sale. The property comprises two parcels (APN: 69.05-1-32.1 & 69.05-1-32.2) and is zoned PUD, Res A. The asking price is $655,000, translating to $104.80 per square foot. Tax data reflects the combined parcels. This property offers significant potential for a variety of commercial ventures.

    Property Features for 2447 Corning Rd

    General Information

    Property type
    Restaurants
    Square Feet
    6,250 SF
    Lot Size
    87,294 SF

    Building Details

    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • 6,250 SF retail building on a 2.004‑acre lot in Elmira, NY.
    • Located at 2447 Corning Rd, with 203' of frontage on NY State Route 14.
    • Large open floor plan, banquet/meeting room, and 84 parking spaces.
    • High‑traffic location near I‑86 and a regional retail hub.
    • Modified gross lease with annual rent increases; seller can terminate lease upon sale.
    • Asking price: $655,000 ($104.80/SF).
    Property Profile Location Intelligence

    Current Use by Public Records

    Fresh Start Church Church

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Elmira
    County
    Chemung
    State
    New York
    Longitude
    -76.832322418403
    Latitude
    42.147302098382

    Nearby Similar for Sale

    • $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
    • $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
    • $170,000
      3,541 SF

      Elmira Duplex: Investment Opportunity

      Two-story duplex with classic charm, porches, and a two-car garage.
      605 Maple Ave, Elmira, NY 14904
      View Details
    • $99,900
      4,080 SF

      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
    • $95,000
      Pending

      Elmira Duplex: Vacant, Turnkey Ready

      Turnkey side-by-side duplex in Elmira, ready for immediate rental.
      239 Mount Zoar St, Elmira, NY 14904
      View Details

    FAQs

    What type of property is this?
    Restaurant - Prime Retail Opportunity: 6,250 SF Restaurant
    Where is this restaurant located?
    The property is located at 2447 Corning Rd Elmira, NY.
    What is the asking price?
    The asking price for this property is $655,000.
    What are key features of this property?
    This property features: 6,250 SF retail building on a 2.004-acre lot in Elmira, NY.; Located at 2447 Corning Rd, with 203' of frontage on NY State Route 14.; Large open floor plan, banquet/meeting room, and 84 parking spaces.
    Request Owner's contact information
    2447 Corning Rd Elmira, NY 14903
    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.
    2447 Corning Rd
    Elmira, NY 14903
    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
    2447 Corning Rd Elmira, NY 14903
    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.