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Property profile & analytics
FOR LEASE
Investment properties
1801 W Water St Elmira, NY 14905
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US63-1415625
For Lease
1 / 2
$10.07 SF/Yr
1801 W Water St, Elmira, NY 14905
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1970
Total area
9,552 SF
Lot
0.46 ac (19,890 SF)
Zoning code
NB
APN
073089 98.06-2-34
UPID
US63-1415625
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
Current use
Occupant on record · Public records
-
Subway Take-out & Catering
-
Snap Fitness Elmira Gym & Fitness Center
-
Hollywood dream NY (Bike/Boat/Book/etc) Store
-
His & Hers Hair Stuido Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$495k
Blend (final)
Blend
$660k
Owner & transaction history
1801 West Water Street Ll · 2 yrs held
1801 West Water Street Ll
since 2024
Last sale
$670,000
4 recorded transactions
Zoning & alternative use
NB · Elmira, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$640,000
+41.3%
Restaurant
$615,000
+35.8%
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 Elmira submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elmira 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$455,000
Current use
OFFICE BUILDING
$640,000
Change: +41% · Conversion: Easy
RESTAURANT
$615,000
Change: +36% · Conversion: Difficult
Blend value · Realmo final
$660k
Range $594k – $726k · ±10% · vs last sale $670k (Feb 17 2024)
Last sale anchor
$670k
Feb 17 2024
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
$69 / 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
$327,000
Assessed 2023
Previous assessed
$327,000
+0.0% YoY
Assessed land
$27,900
Assessed improvement
$299,100
Land market value
$38,219
Improvement market value
$409,726
Total market value
$447,945
Applied tax rate
70,400.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
For Lease
Year built
1970
Heating
NONE
Buildings
1
Stories
1
Total area
9,552 SF
Lot
0.46 ac (19,890 SF)
Zoning code
NB
APN
073089 98.06-2-34
UPID
US63-1415625
Jurisdiction
CHEMUNG
Zoning & alternative use
NB · Elmira, NY
Zoning NB · permitted uses
NB · Elmira, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Elmira. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$455,000
OFFICE BUILDING
Est. value
$640,000
RESTAURANT
Est. value
$615,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RESTAURANT
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
1970
Heating
NONE
Stories
1
Buildings
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
1801 West Water Street Ll
Individual
Mailing address
1801 W WATER ST, ELMIRA, NY 14905-1829
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 17, 2024
$670,000
1801 West Water Street Ll
Water Street Suites LLC
Warranty Deed
$472,000 · Chemung Canal Trust Co
Feb 16, 2021
—
Water Street Suites LLC
—
Deed
related
$90,565 · Corning FCU
Apr 13, 2020
—
Water Street Suites LLC
—
Deed
related
$75,000 · Corning FCU
Aug 12, 2011
$290,000
Water Street Suites, LLC
Robert English
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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