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    24 Brg St Corning, NY 14830-2257
    Property profile & analytics

    24 Brg St Corning, NY 14830-2257

    View on Map
    • Grocery and convenience stores
    • 97,110 SF
    • 13.31 lot acres
    Off-Market
    Property ID
    US63-2030356
    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.
    Value Estimations
    $12,305,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • higi / Physician
    • Michael Rossettie / Pharmacy
    • Evelyn Klay-Stenpeck / Pharmacy
    • Orbin Tercero / Pharmacy
    • James Fazzari / Pharmacy

    Property Details for 24 Brg St

    Year built
    1986
    Lot size
    13.31 lot acres
    Property size
    97,110 SF
    Zone code
    C
    Property type
    Grocery and convenience stores
    APN
    460300 317.08-01-066.000
    APU
    4603003170801066000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $15,630,000
      6.5%
      $14,425,000
      7%
      $13,395,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $10,182,000
      Market price range: $2.64M - $10.2M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $11,125,000
      RESTAURANT
      $10,210,000
      COMMERCIAL (GENERAL)
      $7,940,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Corning
    County
    Steuben
    State
    New York
    Longitude
    -77.0627
    Latitude
    42.1457
    CBSA code
    18500
    CBSA name
    CORNING, NY MICROPOLITAN 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
    0
    $0.00
    $2,080,000
    $6,120,000
    $8,200,000
    -
    $2,080,000
    $6,120,000
    $8,200,000

    Comparable in this City

    • Value Estimation
      $1,280,000
      27,260 SF

      202 Denison E Pkwy

      FINANCIAL BUILDING • 27,260 SF
      202 Denison E Pkwy, Corning, NY 14830-2813
      View Details
    • Value Estimation by Request
      2,576 SF

      149 Market St

      FINANCIAL BUILDING • 2,576 SF
      149 Market St, Corning, NY 14830-2519
      View Details
    • Value Estimation by Request
      5,312 SF

      196 Baker St

      RETAIL STORES (PERSONAL SERVICES) • 5,312 SF
      196 Baker St, Corning, NY 14830-2074
      View Details
    • Value Estimation
      $2,520,000
      43,869 SF

      1 Credit Un Plz

      FINANCIAL BUILDING • 43,869 SF
      1 Credit Un Plz, Corning, NY 14830-2857
      View Details
    • Value Estimation by Request
      685 SF

      Tioga Ave

      FINANCIAL BUILDING • 685 SF
      Tioga Ave, Corning, NY 14830
      View Details
    • Value Estimation by Request
      2,418 SF

      37 William St

      RETAIL STORES (PERSONAL SERVICES) • 2,418 SF
      37 William St, Corning, NY 14830-2243
      View Details

    Similar Nearby for Sale

    • $650,000
      5,880 SF

      Corning Investment Property with Tenant

      Four-unit building leased to Visionworks until 2027.
      107-113 W Market St, Corning, NY 14830
      View Details
    • $225,000
      2,170 SF

      Historical Mixed-Use Building on Market

      Mixed-use building with retail and apartment units on Market Street.
      88 E Market St, Corning, NY 14830
      View Details
    • $139,000
      3,316 SF

      Mixed-Use Property in Corning, NY

      Commercial storefront with apartments and additional commercial space.
      135 Bridge Street Ext, Corning, NY 14830
      View Details
    • $5,033,000
      6,580 SF

      Retail Space For Sale

      Retail space available with a 6.00% CAP rate.
      372 W Pulteney St, Corning, NY 14830
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,247 SF

      Market Street Retail/Office Space

      Retail and office spaces available in historic Market Street.
      54-58 E Market St, Corning, NY 14830
      View Details
    • Contact for pricing
      4,730 SF

      Market Street Retail/Office Space

      Retail and office spaces available in historic Market Street.
      52 E Market St, Corning, NY 14830
      View Details

    Property Visit Statistics

    • Visits by month
      167.2k
    • Visitors by month
      62.3k
    • Avg Time on site
      27 min
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    24 Brg St
    Corning, NY 14830-2257
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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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