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    Philo Rd Elmira, NY 14903

    Sponsored
    For Sale
    $425,700

    28-Acre Manufacturing Site, Zoned for Industry

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional 28.38-acre parcel of land presents a unique opportunity for industrial development in Elmira, New York. Strategically located on a quiet, dead-end section of Philo Road West, this property offers significant advantages for businesses seeking a private and expansive location. The site boasts existing infrastructure, including a 10-inch water line and an 8-inch sewer line, simplifying the development process. Its proximity to a NYSEG substation ensures reliable power access. The property encompasses tax parcels 1.2 and 2.1, as detailed on the tax map. While existing structures are not suitable for reuse and will require demolition, this presents a blank canvas for a custom-built facility. Currently zoned for agricultural use, the property is undergoing re-zoning to accommodate manufacturing, opening doors to a wide range of industrial applications. Furthermore, the location offers potential access to incentives from the Empire State Development Corporation and the Chemung County Industrial Development Agency, potentially reducing development costs. This prime location in Chemung County, with its convenient access to transportation routes and a skilled workforce, makes this a compelling investment opportunity for discerning industrial developers. The asking price for this substantial land holding is $425,700. The zip code is 14903.

    Property Features for 0 Philo Rd

    General Information

    Property type
    Land
    Lot Size
    1,236,233 SF

    HighLights

    • 28.38‑acre industrial land parcel on a quiet dead‑end road in Elmira, NY.
    • Existing 10" water line, 8" sewer line, and proximity to a NYSEG substation.
    • Encompasses tax parcels 1.2 and 2.1.
    • Existing structures require demolition.
    • Ideal for manufacturing or industrial development.
    • Currently agriculturally zoned, with rezoning underway for manufacturing.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Elmira
    County
    Chemung
    State
    New York
    Longitude
    -76.842507
    Latitude
    42.156412

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    FAQs

    What type of property is this?
    Land - 28-Acre Manufacturing Site, Zoned for Industry
    Where is this land located?
    The property is located at Philo Rd Elmira, NY.
    What is the asking price?
    The asking price for this property is $425,700.
    What are key features of this property?
    This property features: 28.38-acre industrial land parcel on a quiet dead-end road in Elmira, NY.; Existing 10" water line, 8" sewer line, and proximity to a NYSEG substation.; Encompasses tax parcels 1.2 and 2.1.
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    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
    Philo Rd Elmira, NY 14903
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