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    6371 Co Rd Hornell, NY 14843
    Property profile & analytics

    6371 Co Rd Hornell, NY 14843

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    • Specialty properties
    • 5,000 SF
    • 200.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 6371 Co Rd

    Lot size
    200.00 lot acres
    Property size
    5,000 SF
    Property type
    Specialty properties
    Property subtype
    Land

    Description

    This exceptional 200-acre property presents a unique investment opportunity in Upstate New York's Southern Tier. The expansive land, primarily flat and ideal for various agricultural uses such as bale farming and grazing, includes approximately 90 acres of forest. A 5,000 square-foot building is situated on the property, currently vacant and offering significant potential for repurposing. The site boasts ample parking with 100 spaces available. Its strategic location provides easy access to major highways, enhancing its appeal for diverse ventures. Beyond traditional agricultural uses, the property's size and location make it suitable for a range of developments, including temporary storage units, a cannabis cultivation facility, a mobile home park, or recreational activities. The property is serviced by NYSEG power. This substantial land holding offers considerable flexibility and potential for significant returns, making it an attractive proposition for discerning investors seeking a large-scale project in a desirable location. The combination of existing infrastructure and vast acreage presents a rare opportunity to capitalize on the growing demand for land in this region.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hornell
    County
    Steuben
    State
    New York
    Longitude
    -77.6899
    Latitude
    42.3074

    Comparable in this City

    • Value Estimation by Request
      13,335 SF

      251 Main St

      PROFESSIONAL CLUBS/ASSOCIATIONS • 13,335 SF
      251 Main St, Hornell, NY 14843-1546
      View Details
    • Value Estimation by Request

      Hornell, NY 14843

      SBE - SPECIAL ASSESSMENTS
      Hornell, NY 14843
      View Details
    • Value Estimation by Request
      10,145 SF

      72 Broadway Mall

      PROFESSIONAL CLUBS/ASSOCIATIONS • 10,145 SF
      72 Broadway Mall, Hornell, NY 14843-1920
      View Details
    • Value Estimation by Request
      12,768 SF

      60 Broadway Mall

      PROFESSIONAL CLUBS/ASSOCIATIONS • 12,768 SF
      60 Broadway Mall, Hornell, NY 14843-1920
      View Details
    • Value Estimation by Request
      8,625 SF

      245 Canisteo St

      PROFESSIONAL CLUBS/ASSOCIATIONS • 8,625 SF
      245 Canisteo St, Hornell, NY 14843-1816
      View Details
    • Value Estimation
      $520,000
      16,428 SF

      66 Seneca St

      CHARITABLE ORGANIZATION • 16,428 SF
      66 Seneca St, Hornell, NY 14843-1311
      View Details

    Similar Nearby for Sale

    • $749,000
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      177-Acre Farm Near Hornell

      Farm with potential for horse or beef operation near Hornell.
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    • $2,500,000

      Event Center Portfolio For Sale

      Four properties functioning as an event center with guest housing.
      251 Main Street Ext, Hornell, NY 14843
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    • $2,250,000
      226.91 Acres

      Historic Golf and Country Club

      A historic golf and country club with development potential.
      7230 Country Clb Dr, Hornell, NY 14843
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    Similar Nearby for Lease

    • Contact for pricing
      2,106 SF

      Retail Space Near Wegmans Market

      Retail, office, or restaurant space with high visibility.
      1000-1044 State Route 36, Hornell, NY 14843
      View Details
    • $56 SF/Yr

      Shopping Plaza Retail/Warehouse Space

      Retail and warehouse spaces available in a busy shopping plaza.
      7451 Seneca Rd N, Hornell, NY 14843
      View Details
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    Hornell, NY 14843
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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.

    More about this property
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