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Property profile & analytics
OFF-MARKET
Estimated value
$1,885,000
Automotive properties
2472 Corning Rd Elmira, NY 14903-1044
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US63-0053842
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1960
Total area
41,070 SF
Lot
11.37 ac (495,277 SF)
Zoning code
TH04
APN
073489 69.05-1-5
UPID
US63-0053842
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
-
Ferrario Ford Collision Auto Repair Shop
-
Ferrario Auto Team Car Dealership
-
Ferrario Ford Service Auto Repair Shop
-
Ferrario Ford Parts Auto Parts Store
-
Ferrario Ford Car Dealership Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.05M
Blend (final)
Blend
$1.89M
Owner & transaction history
Ferrario Realty Ny INC · 1 yrs held
Ferrario Realty Ny INC
since 2025
1 recorded transaction
Zoning & alternative use
TH04 · Elmira, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.8M
+68.2%
Restaurant
$2.6M
+61.7%
Commercial (general)
$2.0M
+21.4%
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
AUTO REPAIR, GARAGE
$1,635,000
Current use
OFFICE BUILDING
$2,755,000
Change: +68% · Conversion: Difficult
RESTAURANT
$2,645,000
Change: +62% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,985,000
Change: +21% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,675,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$1.89M
Range $1.70M – $2.07M · ±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
Tax billed
$20,940
Tax year 2020
Assessed value
$2,500,000
Assessed 2023
Previous assessed
$2,500,000
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$2,251,400
Assessed improvement
$248,600
Land market value
$2,274,142
Improvement market value
$251,111
Total market value
$2,525,253
Applied tax rate
73,401.0000
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1960
Heating
NONE
Cooling
PARTIAL
Buildings
2
Stories
1
Total area
41,070 SF
Lot
11.37 ac (495,277 SF)
Zoning code
TH04
APN
073489 69.05-1-5
UPID
US63-0053842
Jurisdiction
CHEMUNG
Zoning & alternative use
TH04 · Elmira, NY
Zoning TH04 · permitted uses
TH04 · 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
AUTO REPAIR, GARAGE Current
Est. value
$1.6M
OFFICE BUILDING
Est. value
$2.8M
RESTAURANT
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$1.7M
AUTO REPAIR, GARAGE Current
OFFICE BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1960
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
11.37 ac
Current owner
From public records · entity-resolved
Ferrario Realty Ny INC
Entity
Mailing address
2472 CORNING RD, ELMIRA, NY 14903-1044
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 21, 2025
—
Ferrario Realty Ny INC
—
Deed
related
$1,405,286 · Chemung Canal Trust Co
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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