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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1000 State Rte 36 Hornell, NY 14843-9323

    • Strip malls
    • 81,633 SF
    • 13.10 lot acres
    OFF-MARKET
    Last Sale
    May 05, 2025
    $14,522,141
    Value Estimations
    $15,095,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1625977
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Strip malls

    Property Details for 1000 State Rte 36

    Year built
    1995
    Lot size
    13.10 lot acres
    Property size
    81,633 SF
    Zone code
    B-2
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    460600 136.03-01-001.004
    APU
    4606001360301001004

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $17,595,000
      6.5%
      $16,240,000
      7%
      $15,080,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hornell
    County
    Steuben
    State
    New York
    Longitude
    -77.6698
    Latitude
    42.3487
    CBSA code
    18500
    CBSA name
    CORNING, NY MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $890,000
    $10,910,000
    $11,800,000
    -
    $936,842
    $11,484,211
    $12,421,053

    Comparable in this City

    • Value Estimation by Request
      28,634 SF

      16 Park Dr

      SHOPPING CENTER, STRIP CENTER • 28,634 SF
      16 Park Dr, Hornell, NY 14843-2296
      View Details
    • Value Estimation
      $545,000
      103,138 SF

      7451 Seneca N Rd

      SHOPPING CENTER, STRIP CENTER • 103,138 SF
      7451 Seneca N Rd, Hornell, NY 14843-9642
      View Details
    • Value Estimation by Request
      10,614 SF

      960 State Rte 36

      MINI-MALL • 10,614 SF
      960 State Rte 36, Hornell, NY 14843-9322
      View Details
    • Value Estimation
      $1,475,000
      111,348 SF

      949 State Rte 36

      MINI-MALL • 111,348 SF
      949 State Rte 36, Hornell, NY 14843-1018
      View Details
    • Value Estimation
      $580,000
      15,446 SF

      33 Broadway Mall, Unit 43

      MINI-MALL • 15,446 SF
      33 Broadway Mall, Hornell, NY 14843-1919
      View Details
    • Value Estimation
      $5,460,000
      13,776 SF

      12 Park Dr

      MINI-MALL • 13,776 SF
      12 Park Dr, Hornell, NY 14843-2271
      View Details

    Similar Nearby for Sale

    • $3,900,000
      88,000 SF

      Hornell Shopping Plaza Investment

      88,000 SF Retail Center, Development Potential
      7451 Seneca Rd, Hornell, NY 14843
      View Details
    • $250,000
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      Spacious Retail Property in Hornell

      Two-story, 8,200+/-sf retail building on 1.00+/- acre lot.
      196 Seneca St, Hornell, NY 14843
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    • $55,000

      Commercial Building Overlooking Canisteo River

      Well-kept commercial building with metal roof and updated AC.
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    • $170,000
      3,120 SF

      Retail/Office/Warehouse Opportunity

      Former plumbing and heating location with good visibility.
      299-301 Main Street Ext, Hornell, NY 14843
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    • $5,190,000
      13,813 SF

      Hornell Retail Property for Sale

      Retail property with long-term lease and rental increases.
      12 Park Dr, Hornell, NY 14843
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    • $369,900

      Turnkey Bar and Event Venue

      Bar, event venue, and apartments for sale in Hornell.
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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
    • Contact for pricing
      13,200 SF

      Industrial Shop/Maintenance Facility For Rent

      9,600 SF shop/maintenance facility with 3 bays for rent.
      7774 Industrial Park Rd, Hornell, NY 14843
      View Details
    • $5 SF/Yr
      27,000 SF

      Hornell Shopping Plaza Retail Space

      Two retail spaces available for lease.
      7451 Seneca Rd, Hornell, NY 14843
      View Details
    • $399,900

      Adaptable One-Story Building on 13 Acres

      Versatile one-story building suitable for various uses on 13 acres.
      6017 Magee Rd, Hornell, NY 14843
      View Details
    • Contact for pricing
      13,839 SF

      Hornell Warehouse Space for Lease

      7,250 SF warehouse space available for lease.
      195 Seneca St, Hornell, NY 14843
      View Details
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    Hornell, NY 14843-9323
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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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