Technical
Financial
Distress signals
Property profile

1575 Lake St Elmira, NY 14901

FOR LEASE
Warehouses
Property ID
US63-6213613
160,346 SF 12.16 ac lot Built 1952
Individually Owned 3-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional industrial property in Elmira, NY, presents a significant leasing opportunity. Located just two miles from the I-86 interchange, this 255,000-square-foot warehouse sits on a 12.22-acre lot, offering unparalleled access to major transportation routes. The building, constructed in 1952, features a robust structure with cement slab floors and steel I-beams, ensuring durability and longevity. High ceilings, measuring 13 feet, provide ample vertical space for various industrial uses. The property boasts 12 elevated loading docks and overhead drive-through doors, facilitating efficient loading and unloading operations. An internal rail system further enhances its suitability for manufacturing and distribution. Three-phase electric power is readily available. The property includes approximately 18,000 square feet of office space and approximately 5,000 square feet of high-bay warehouse space, in addition to the main warehouse. The property is zoned for industrial use and is situated in Chemung County. This versatile space is ideal for a wide range of industrial applications, making it a truly remarkable investment opportunity. The property is currently vacant and ready for immediate occupancy.

Property profile

Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1952
Total area 160,346 SF
Lot 12.16 ac (529,690 SF)
Zoning code IA
APN 070400 79.15-1-3
UPID US63-6213613

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1575 Lake St Elmira, NY 14901
Elmira metro Census 100 ELMIRA, NY METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$2.61M
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.37M
Blend (final) Blend
$2.38M

Owner & transaction history

since 2023
Last sale
$2.5M
2 recorded transactions
2023
$2.5M
2022
Price N/A

Zoning & alternative use

IA · Elmira, NY
Zoning description

110.70 Limited Light Industrial: Shall mean any light industrial use employing fewe r than twenty-five (25) persons. 110.71 Light Industrial: Shall mean any manufacturing or research establish ment which has limited exte…

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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