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    Property profile & analytics

    2205 College Ave Elmira, NY 14903-1274

    • Office buildings
    • 12,510 SF
    • 0.97 lot acres
    OFF-MARKET
    Value Estimations
    $570,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2303771
    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

    • 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

    Property Details for 2205 College Ave

    Year built
    1972
    Lot size
    0.97 lot acres
    Property size
    12,510 SF
    Zone code
    06 - INDUSTRIAL
    Property type
    Office buildings
    APN
    073403 69.17-1-8
    APU
    73403691718

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $360,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $683,000
      Market price range: $365k - $1.28M
      AI Estimate
      $665,000
      Market price range: $355k - $1.26M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $840,000
      Current use
      RESTAURANT
      $805,000
      Change: -4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Elmira
    County
    Chemung
    State
    New York
    Longitude
    -76.8269
    Latitude
    42.1315
    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
    $117,000
    $382,900
    $499,900
    -
    $118,182
    $386,767
    $504,949

    Comparable in this City

    • Value Estimation by Request
      6,432 SF

      219 14th St

      PROFESSIONAL BUILDING • 6,432 SF
      219 14th St, Elmira Heights, NY 14903-1304
      View Details
    • Value Estimation
      $2,210,000
      5,960 SF

      244 Oakwood Ave

      PROFESSIONAL BUILDING • 5,960 SF
      244 Oakwood Ave, Elmira, NY 14903-1224
      View Details
    • Value Estimation by Request
      2,984 SF

      161 Oakwood Ave

      OFFICE BUILDING • 2,984 SF
      161 Oakwood Ave, Elmira Heights, NY 14903-1648
      View Details
    • Value Estimation by Request
      1,927 SF

      2062 College Ave

      PROFESSIONAL BUILDING • 1,927 SF
      2062 College Ave, Elmira, NY 14903-1651
      View Details
    • Value Estimation by Request
      868 SF

      122 Mccanns Blvd

      OFFICE BUILDING • 868 SF
      122 Mccanns Blvd, Elmira, NY 14903
      View Details
    • Value Estimation by Request
      1,200 SF

      124 13th St

      OFFICE BUILDING • 1,200 SF
      124 13th St, Elmira, NY 14903-1619
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      57,000 SF

      Versatile Warehouse and Retail Building

      57,000 SF building suitable for warehouse, retail, manufacturing.
      2070 Lake Rd, Elmira, NY 14903
      View Details
    • $30,000
      0.69 Acres

      Elmira Land Opportunity

      Large lot with existing structure and utilities available.
      3541 Kentucky Ave, Elmira, NY 14903
      View Details
    • Contact for pricing
      0.04 Acres

      Vacant Lot in Elmira Heights

      Vacant 0.0445-acre lot with utilities available at street.
      259 W 13Th St, Elmira, NY 14903
      View Details
    • Contact for pricing

      Prime Commercial Land For Sale

      6.68 acres of commercial land available for ground lease/redevelopment.
      1025 County Road 64, Elmira, NY 14903
      View Details

    Similar Nearby for Lease

    • $1,000 /Mo
      825 SF

      Modern Office Space in Elmira

      Office space for rent featuring reception, offices, and storage.
      170 North Park Ln, Elmira, NY 14903
      View Details
    • $1,650 /Mo
      2,032 SF

      Elmira Office Space Available

      Clean, ready-to-go office spaces in Elmira, NY for lease.
      170 E 14Th St, Elmira, NY 14903
      View Details
    • Contact for pricing

      Restaurant & Retail Pads Available

      Restaurant and retail pads available for rent.
      1025 County Road 64, Elmira, NY 14903
      View Details
    • Contact for pricing

      Retail Center Space Available

      Retail spaces for lease in a high-traffic shopping center.
      830 County Road 64, Elmira, NY 14903
      View Details
    • Contact for pricing

      Elmira Distribution Center for Rent

      270,000 SF distribution center with loading docks and recent renovations.
      340 Upper Oakwood Ave, Elmira, NY 14903
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail space for lease at 2446 Corning Rd, Elmira.
      2446 Corning Rd, Elmira, NY 14903
      View Details
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    2205 College Ave
    Elmira, NY 14903-1274
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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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