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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Office buildings
2205 College Ave Elmira, NY 14903-1274
Individually Owned
19-yr Hold
~
Est. High Equity
Property ID
US63-2303771
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1972
Total area
12,510 SF
Lot
0.97 ac (42,253 SF)
Zoning code
06 - INDUSTRIAL
APN
073403 69.17-1-8
UPID
US63-2303771
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
-
Stewart Agency, Inc. Insurance Agency
-
Chemung County Radio Radio Station Telecommunications Service
-
WWLZ Radio Station Telecommunications Service
-
Wnki Radio Station Telecommunications Service
-
Wpgi Radio Station Telecommunications Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$360k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$684k
Blend (final)
Blend
$570k
Owner & transaction history
Gk Office Equities · 19 yrs held
Gk Office Equities
since 2007
2 recorded transactions
Zoning & alternative use
06 - INDUSTRIAL · Elmira, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$360,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$840,000
Current use
RESTAURANT
$805,000
Change: -4% · Conversion: Moderate
Blend value · Realmo final
$570k
Range $513k – $627k · ±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
$46 / 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
$499,900
Assessed 2023
Previous assessed
$499,900
+0.0% YoY
Assessed land
$117,000
Assessed improvement
$382,900
Land market value
$118,182
Improvement market value
$386,767
Total market value
$504,949
Applied tax rate
73,402.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1972
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
2
Total area
12,510 SF
Lot
0.97 ac (42,253 SF)
Zoning code
06 - INDUSTRIAL
APN
073403 69.17-1-8
UPID
US63-2303771
Jurisdiction
CHEMUNG
Zoning & alternative use
06 - INDUSTRIAL · Elmira, NY
Zoning 06 - INDUSTRIAL · permitted uses
06 - INDUSTRIAL · 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
OFFICE BUILDING Current
Est. value
$840,000
RESTAURANT
Est. value
$805,000
OFFICE BUILDING Current
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
1972
Heating
NONE
Cooling
Yes
Stories
2
Buildings
1
Lot
0.97 ac
Current owner
From public records · entity-resolved
Gk Office Equities
Individual
Mailing address
2205 COLLEGE AVE, ELMIRA, NY 14903-1274
Ownership since
2007
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
Aug 19, 2016
—
Gk Office Equities LLC
—
Deed
related
$29,000 · Empower Federal Credit Union
Jul 3, 2007
$450,000
Gk Office Equities
Ritres Professional Office Prope
Deed
$400,000 · Elmira Savings Bank
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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