140 Village SqPainted Post, NY 14870

Property Details for 140 Village Sq

Year built

1974

Lot size

0.27 AC

Property size (Sq ft)

19,425 SF

Zone code

05 - COMMERCIAL

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

464201 299.13-02-004.000

APU

4642012991302004000

Description

This fee-simple ownership opportunity presents a 18,375 square-foot shopping center in Painted Post, NY, boasting 94% occupancy and a strong 8.45% cap rate. The property, built in 1970 and renovated in 2020, features eleven units totaling 18,375 square feet, with one 1,128 square-foot unit currently available for lease. The asking price is $1,830,140, translating to $99.60 per square foot. The property generates a Net Operating Income (NOI) of $154,647. Recent capital improvements include roof replacement and exterior siding. The center benefits from a diverse tenant mix, including medical and service-oriented businesses such as Rivoli Dental, Miracle Ear, and The Vision Center. Situated on a 0.27-acre lot, the property is zoned VC and enjoys a prime location near major retailers like Walmart, Home Depot, and ALDI, as well as significant residential areas, Corning Sullivan Park R&D Campus, and the Siemens Energy complex. The Village maintains parking, accessways, and sidewalks, eliminating landlord responsibilities in those areas. This well-maintained center offers a compelling investment opportunity with minimal vacancy and strong potential for future growth. The property is offered free and clear of any mortgage financing. Over 23,000 people reside within a five-mile radius.

• CAP approach

  CAP return

  Valuation

  6%

  $3,889,647

  6.5%

  $3,590,444

  7%

  $3,333,983

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,750,681

  Geo Method

  $3,524,341

• Alternative Use

  Use

  Valuation

  Residential

  $3,590,444

  Hospitality

  $3,288,827

  Educational

  $2,736,265

  Medical

  $2,830,370

  Retail

  $4,256,413

Location Insight

City

Painted Post

County

Steuben

State

New York

Latitude

42.1587

Longitude

-77.0943

CBSA code

18500

CBSA name

CORNING, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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