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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Industrial properties
17 Aviation Dr, Horseheads, NY 14845-1102
Entity Owned
6-yr Hold
Free & Clear
Property ID
US63-5232972
Property summary
AI-generated overview
This Class A, 70,000-square-foot industrial property, located at 17 Aviation Dr, Horseheads, NY 14845, presents a unique investment opportunity. Situated on an 8-acre lot within the Elmira Corning Regional Airport (ELM) Airport Business District, this facility boasts a 30,000-square-foot hangar with a 30' x 120' hangar door, offering direct tarmac/runway access. Completely renovated in 2012, the building features 34-41' ceiling heights and includes a reception area, training rooms, cafeteria, open floor plans, ADA-compliant restrooms, an executive office suite with a meeting room, machine shop, parts room, and ample storage. A large IR air compressor provides air throughout the building. The property is secured with fencing, a gate, and a guard shack. Conveniently located minutes from Exit 50 on I-86, the airport offers daily flights with Delta and Allegiant. The property is on a ground lease with the airport
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1998
Total area
20,768 SF
Lot
6.41 ac (279,220 SF)
APN
072400 57.02-2-60./9
UPID
US63-5232972
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$555k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$675k
Blend (final)
Blend
$615k
Owner & transaction history
Chemung County Industrial · 6 yrs held
Chemung County Industrial
since 2020
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$890,000
+82.9%
Retail stores
$810,000
+66.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Horseheads submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Horseheads submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$555,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$485,000
Current use
WAREHOUSE, STORAGE
$890,000
Change: +83% · Conversion: Easy
RETAIL STORES
$810,000
Change: +66% · Conversion: Moderate
Blend value · Realmo final
$615k
Range $554k – $677k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$30 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Assessed value
$2,761,300
Assessed 2023
Previous assessed
$2,761,300
+0.0% YoY
Assessed improvement
$2,761,300
Improvement market value
$2,937,553
Total market value
$2,937,553
Applied tax rate
73,401.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1998
Cooling
CENTRAL
Buildings
2
Stories
2
Total area
20,768 SF
Lot
6.41 ac (279,220 SF)
APN
072400 57.02-2-60./9
UPID
US63-5232972
Jurisdiction
CHEMUNG
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$485,000
WAREHOUSE, STORAGE
Est. value
$890,000
RETAIL STORES
Est. value
$810,000
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1998
Cooling
Yes
Stories
2
Buildings
2
Lot
6.41 ac
Current owner
From public records · entity-resolved
Chemung County Industrial
Entity
Free & Clear · 6 yrs held
Mailing address
400 E CHURCH ST, ELMIRA, NY 14901-2834
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2020
$250
Chemung County Industrial
Chemung County Of
Quit Claim Deed
related
—
Jan 13, 2020
—
Chemung County Industrial
County Of Chemung
Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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