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

    202 Colonial Dr Horseheads, NY 14845-9004

    • Hotels
    • 53,340 SF
    OFF-MARKET
    Value Estimations
    $2,605,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5337868
    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

    • Tesla Destination Charger / Electric Vehicle Charging Station
    • Courtyard Elmira Horseheads / Hotel & Motel

    Property Details for 202 Colonial Dr

    Year built
    2016
    Property size
    53,340 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Hotels
    APN
    072400 58.01-2-35.31/1
    APU
    724005801235311

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,635,000
      AUTO REPAIR, GARAGE
      $3,475,000
      MEDICAL BUILDING
      $2,870,000
      WAREHOUSE, STORAGE
      $2,285,000
      RETAIL STORES
      $2,080,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Horseheads
    County
    Chemung
    State
    New York
    Longitude
    -76.8675
    Latitude
    42.162
    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
    $0.00
    $4,346,400
    $4,346,400
    -
    $0.00
    $4,623,830
    $4,623,830

    Comparable in this City

    • Value Estimation
      $3,325,000
      66,924 SF

      2671 Corning Rd

      HOTEL • 66,924 SF
      2671 Corning Rd, Horseheads, NY 14845-4202
      View Details
    • Value Estimation
      $2,230,000
      42,516 SF

      1600 County Rte 64

      HOTEL • 42,516 SF
      1600 County Rte 64, Horseheads, NY 14845-2299
      View Details
    • Value Estimation
      $1,975,000
      39,264 SF

      105 Mall Rd

      HOTEL • 39,264 SF
      105 Mall Rd, Horseheads, NY 14845-9009
      View Details
    • Value Estimation
      $3,080,000
      64,782 SF

      35 Arnot Rd

      HOTEL • 64,782 SF
      35 Arnot Rd, Horseheads, NY 14845-8533
      View Details
    • Value Estimation
      $515,000
      8,968 SF

      3527 Watkins Rd

      MOTEL • 8,968 SF
      3527 Watkins Rd, Horseheads, NY 14845-8586
      View Details
    • Value Estimation
      $1,675,000
      32,312 SF

      4133 State Rte 17

      MOTEL • 32,312 SF
      4133 State Rte 17, Horseheads, NY 14845-3401
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      50,000 SF

      Arnot Mall Retail Space Available

      Prime Retail Space, Horseheads, NY
      3300 Chambers Rd, Horseheads, NY 14845
      View Details
    • $1,300,000
      8,400 SF

      934 Lackawanna Ave, Horseheads, NY 14845

      Industrial properties • 8,400 SF
      934 Lackawanna Ave, Horseheads, NY 14845
      View Details
    • $137,000

      Development Opportunity Near Airport

      5.145-acre development opportunity with high visibility near Elmira/Corning Airport.
      343 Sing Sing Rd, Horseheads, NY 14845
      View Details
    • $499,000

      Commercial Land Near Interstate Route

      Commercial land with high visibility and access to traffic signal.
      511 Chemung St, Horseheads, NY 14845
      View Details
    • $870,000

      Development Opportunity Near I-86

      20+ acre site with high visibility and development potential.
      92 Colonial Dr, Horseheads, NY 14845
      View Details
    • $1,950,000
      149,079 SF

      Former Ames Plaza Investment Opportunity

      Versatile storefronts with rental potential and established land lease.
      3162 Lake Rd, Horseheads, NY 14845
      View Details

    Similar Nearby for Lease

    • $70,000
      10,000 SF

      Prime Horseheads Retail Opportunity

      10,000 SF Retail Building, High Visibility
      511 Chemung St, Horseheads, NY 14845
      View Details
    • $2,200 /Mo
      4,000 SF

      Storefront in High-Traffic Area

      4000 sq ft storefront in Horseheads business district.
      3162 Lake Rd, Horseheads, NY 14845
      View Details
    • Contact for pricing

      Land Parcel Near I-86

      Vacant land parcel with high visibility and easy highway access.
      511 Chemung St, Horseheads, NY 14845
      View Details
    • $950 /Mo
      1,250 SF

      Horseheads Commercial Space For Lease

      Commercial space in Hanover Square, great visibility, flexible uses.
      106 N Main St, Horseheads, NY 14845
      View Details
    • Contact for pricing
      1,057,754 SF

      Arnot Mall Anchor Position

      Former Sears store in a busy regional shopping area.
      3300 Chambers Rd, Horseheads, NY 14845
      View Details
    • $700,000

      Established Business in Business District

      Affordable Home Furnishings business with inventory and rental agreements.
      1020 Center St, Horseheads, NY 14845
      View Details
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    202 Colonial Dr
    Horseheads, NY 14845-9004
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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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