1344 College Ave, Unit 1350 Elmira, NY 14901-1136
- Community centers
- 16,834 SF
- 0.73 lot acres
Current Use by Public Records
- Pookie's Little Britches / Clothing Store
Property Details for 1344 College Ave
- Year built
- 1967
- Lot size
- 0.73 lot acres
- Property size
- 16,834 SF
- Zone code
- BE
- Property type
- Community centers
- APN
- 070400 79.18-3-5
- APU
- 70400791835
Description
This exceptional investment opportunity presents a fully occupied, multi-tenant industrial property located at 1344 College Ave, Elmira, NY 14901. The property consists of two buildings totaling 16,990 square feet on a 1.25-acre lot, zoned General Commercial. The property features three leased units, including 9,250 square feet of warehouse/distribution space with two loading docks and 20-foot ceilings, and 7,740 square feet of retail/flex space with prominent College Avenue (NY Route 14) frontage. The property boasts 100% occupancy with a strong NOI of $67,000, resulting in a 9.12% cap rate. The asking price is $735,000, or $245,000 per unit. Leases are modified gross with rent bumps included. The property includes a neighboring single-family rental and an additional lot, offering potential for future expansion. Conveniently located on a primary north-south corridor between Elmira and Horseheads, with easy access to Clemens Center Parkway and Interstate 86. The buildings are fully sprinklered and feature a pylon sign and ample parking. The owner maintains flood insurance. Note that the provided tax data reflects the combined parcels (APN: 79.18-3-5, 7, 8). A signed confidentiality agreement and review of financials are required before showings.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $730,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $755,000
- 6.5%
- $700,000
- 7%
- $725,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $610,000
- Geo Method
- $610,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $775,000
- Retail
- $810,000
- Mixed-Use
- $885,000
- Hospitality
- $775,000
- Educational
- $875,000
- Residential Income
- $685,000
- Energy
- $630,000
- Income-Based Land
- $745,000
- Food Service
- $815,000
Location Insight
- Map
- Local Demand
- City
- Elmira
- County
- Chemung
- State
- New York
- Longitude
- -76.8206
- Latitude
- 42.1133
- CBSA code
- 21300
- CBSA name
- ELMIRA, NY METROPOLITAN STATISTICAL AREA
