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    950 County Rte Big Flats, NY 14814
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    Property profile & analytics

    950 County Rte Big Flats, NY 14814

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    • Neighborhood centers
    • 172,050 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 950 County Rte

    Year built
    2007
    Property size
    172,050 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Big Flats Commons, located at 950 County Route 64 in Big Flats, NY 14814, offers a prime retail opportunity in Chemung County. This 172,050 square foot strip center, built in 2007, boasts a strong tenant mix including Target, Best Buy, Maurice's, Panera Bread, and Five Guys. The property enjoys a highly visible location at a busy intersection directly across from Arnot Mall, placing it within the busiest shopping corridor of New York's Southern Tier. Currently, there is 5,935 square feet of vacant space available for lease. This space is inline and offers a maximum contiguous area of 4,220 square feet, with a minimum divisible space of 1,715 square feet. The property consists of two total building suites. This presents a unique opportunity for businesses seeking high visibility and access to a substantial customer base in a thriving retail environment. The property's strategic location and established tenant base make it an attractive investment for businesses looking to expand their reach in this dynamic market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Big Flats
    County
    Chemung
    State
    New York
    Longitude
    -76.947
    Latitude
    42.141

    Comparable in this City

    • Value Estimation by Request
      13,050 SF

      831 County Rte 64

      SHOPPING CENTER, STRIP CENTER • 13,050 SF
      831 County Rte 64, Big Flats, NY 14814
      View Details
    • Value Estimation
      $585,000
      34,688 SF

      84 Canal St

      SHOPPING CENTER, STRIP CENTER • 34,688 SF
      84 Canal St, Big Flats, NY 14814-8968
      View Details
    • Value Estimation
      $1,000,000
      82,120 SF

      845 County Rte 64

      SHOPPING CENTER, STRIP CENTER • 82,120 SF
      845 County Rte 64, Big Flats, NY 14814
      View Details
    • Value Estimation by Request
      6,718 SF

      3300 Chambers Rd

      REGIONAL SHOPPING CENTER, MALL • 6,718 SF
      3300 Chambers Rd, Big Flats, NY 14814
      View Details
    • Value Estimation by Request
      28,800 SF

      3335-3339 Chambers S Rd

      MINI-MALL • 28,800 SF
      3335-3339 Chambers S Rd, Big Flats, NY 14814
      View Details
    • Value Estimation
      $1,340,000
      134,040 SF

      830 County Rte 64

      MINI-MALL • 134,040 SF
      830 County Rte 64, Big Flats, NY 14814
      View Details

    Similar Nearby for Sale

    • $199,900
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      Big Flats Retail/Office Opportunity

      Convertible retail/office space with expansion potential in Big Flats, NY.
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    • Contact for pricing

      200 Acres Sub-dividable Land

      200 acres of sub-dividable land in Airport Corporate Park.
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    • $99,900
      3.33 Acres

      Level Land Parcel in Big Flats

      3.33 acre cleared land parcel ready for development.
      180 Hibbard Road Ext, Big Flats, NY 14814
      View Details
    • $99,900
      13.25 Acres

      Big Flats Buildable Acreage

      13.25 acres in Big Flats, NY, buildable and conveniently located.
      370 West Hl #A Rd, Big Flats, NY 14814
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      172,050 SF

      Retail Space Near Arnot Mall

      Retail space available in a busy shopping center.
      950 County Rte 64, Big Flats, NY 14814
      View Details
    • Contact for pricing

      Retail Center with Redevelopment Potential

      574,215 SF retail center with excellent visibility and access.
      830 County Rte 64, Elmira, NY 14814
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    • $1,800 /Mo
      2,400 SF

      Equipped Commercial Space in Big Flats

      Versatile commercial space suitable for automotive or storage uses.
      3328 Nys 352, Big Flats, NY 14814
      View Details
    • $7 SF/Yr
      4,250 SF

      Big Flats Flex Space Available

      4,250 SF flex space ideal for warehouse or manufacturing.
      95 Hibbard Rd, Big Flats, NY 14814
      View Details
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    Big Flats, NY 14814
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    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.

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