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

    1124 Main St Elmira, NY 14904

    • Investment properties
    • 952 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    $255,000
    Show details
    Cap Rate Potential
    3.1%
    Investment properties
    Location Intelligence
    Property ID
    US63-2060812
    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

    • Investment properties

    Property Details for 1124 Main St

    Year built
    1950
    Lot size
    0.13 lot acres
    Property size
    952 SF
    Zone code
    RT
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    073600 109.08-4-14
    APU
    7360010908414

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Elmira
    County
    Chemung
    State
    New York
    Longitude
    -76.7953
    Latitude
    42.0631
    CBSA code
    21300
    CBSA name
    ELMIRA, NY METROPOLITAN 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
    2020
    $0.00
    $20,000
    $42,000
    $62,000
    -
    $23,529
    $49,412
    $72,941

    Comparable in this City

    • Value Estimation
      $260,000
      2,028 SF

      531 Pennsylvania Ave

      STORE/OFFICE (MIXED USE) • 2,028 SF
      531 Pennsylvania Ave, Elmira, NY 14904-1732
      View Details
    • Value Estimation
      $215,000
      1,296 SF

      123 Bob Masia Dr

      STORE/OFFICE (MIXED USE) • 1,296 SF
      123 Bob Masia Dr, Elmira, NY 14904
      View Details
    • Value Estimation
      $285,000
      2,925 SF

      112 Main St

      STORE/OFFICE (MIXED USE) • 2,925 SF
      112 Main St, Elmira, NY 14904-1309
      View Details
    • Value Estimation
      $365,000
      9,255 SF

      1146 Broadway St

      STORE/OFFICE (MIXED USE) • 9,255 SF
      1146 Broadway St, Elmira, NY 14904-2502
      View Details
    • Value Estimation
      $70,000
      2,017 SF

      1150 Main St

      STORE/OFFICE (MIXED USE) • 2,017 SF
      1150 Main St, Elmira, NY 14904-3037
      View Details
    • Value Estimation
      $230,000
      4,550 SF

      807 Pennsylvania Ave

      STORE/OFFICE (MIXED USE) • 4,550 SF
      807 Pennsylvania Ave, Elmira, NY 14904-2631
      View Details

    Similar Nearby for Sale

    • New
      Contact for pricing
      2,664 SF

      Elmira Two-Unit Investment Opportunity

      Two-unit property in Elmira, NY, ideal for investors or owner-occupiers.
      312 Caldwell Ave, Elmira, NY 14904
      View Details
    • New
      $69,900
      2,259 SF

      Elmira Multifamily Investment Opportunity

      Two-unit property in Elmira, NY, with long-term tenants.
      716-718 Spaulding St, Elmira, NY 14904
      View Details
    • $80,000
      2,627 SF

      Elmira Two-Unit Investment Opportunity

      Two-unit property with rental income and convenient location in Elmira.
      300 Lormore St, Elmira, NY 14904
      View Details
    • $30,000
      3,720 SF

      Elmira Mixed-Use Redevelopment Opportunity

      Three-story brick building with retail and apartment potential.
      118 S Main St, Elmira, NY 14904
      View Details
    • $94,900

      Spacious Duplex with Garage

      Duplex with separate utilities, garage, and strong cash flow.
      1005 Pennsylvania Ave, Elmira, NY 14904
      View Details
    • $200,000

      Commercial Land on Erie Street

      Commercial land available on Erie Street in Elmira, NY.
      601 Erie St, Elmira, NY 14904
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,945 SF

      Freestanding Retail Building with Drive-Thru

      Former pharmacy with drive-thru, suitable for retail or restaurant.
      209 Mount Zoar St, Elmira, NY 14904
      View Details
    • $11,400 /Mo
      373,000 SF

      Elmira Industrial Manufacturing Campus

      Multiple spaces, 48 acres, rail access
      1051 Main St, Elmira, NY 14904
      View Details
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    1124 Main St
    Elmira, NY 14904
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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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