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Property profile & analytics
OFF-MARKET
Estimated value
$2,080,000
Motels
3 Buffalo St Corning, NY 14830-2126
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US63-1915321
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1996
Total area
40,000 SF
Lot
1.84 ac (80,150 SF)
Zoning code
CONF
APN
463801 299.18-01-035.310
UPID
US63-1915321
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
-
Tesla Destination Charger Electric Vehicle Charging Station
-
Fairfield Inn Corning Riverside Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.98M
Comparable Approach
Comparable
$2.19M
Blend (final)
Blend
$2.08M
Owner & transaction history
Corning Lodging Venture · 11 yrs held
Corning Lodging Venture
since 2015
3 recorded transactions
Zoning & alternative use
CONF · Corning, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.3M
+123.7%
Medical building
$2.9M
+94.9%
Retail stores
$2.7M
+87.5%
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 Corning submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Corning 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%
$2,140,000
6.5%
$1,975,000
7%
$1,830,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,460,000
Current use
COMMERCIAL (GENERAL)
$3,270,000
Change: +124% · Conversion: Difficult
MEDICAL BUILDING
$2,850,000
Change: +95% · Conversion: Difficult
RETAIL STORES
$2,740,000
Change: +87% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,080,000
Change: +42% · Conversion: Difficult
OFFICE BUILDING
$1,810,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$2.08M
Range $1.87M – $2.29M · ±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
$52 / 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
Property tax & assessments
Assessed value
$4,500,000
Assessed 2023
Previous assessed
$4,500,000
+0.0% YoY
Assessed land
$586,900
Assessed improvement
$3,913,100
Land market value
$611,354
Improvement market value
$4,076,146
Total market value
$4,687,500
Applied tax rate
460,300.0000
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1996
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
2
Total area
40,000 SF
Lot
1.84 ac (80,150 SF)
Zoning code
CONF
APN
463801 299.18-01-035.310
UPID
US63-1915321
Jurisdiction
STEUBEN
Zoning & alternative use
CONF · Corning, NY
Zoning CONF · permitted uses
CONF · Corning, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Corning. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$2.9M
RETAIL STORES
Est. value
$2.7M
WAREHOUSE, STORAGE
Est. value
$2.1M
OFFICE BUILDING
Est. value
$1.8M
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
OFFICE BUILDING
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
1996
Heating
NONE
Cooling
Yes
Stories
2
Buildings
2
Lot
1.84 ac
Current owner
From public records · entity-resolved
Corning Lodging Venture
Entity
Mailing address
11751 E CORNING RD, CORNING, NY 14830-3657
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 6, 2017
—
Corning Lodging Ventures
—
Deed
related
$711,562 · Starwood Mtg Capital
Jan 22, 2015
$4,425,000
Corning Lodging Venture
Penfield Hotel, L.p.
Deed
—
Jan 22, 2015
—
Penfield Hotel L.p.
Steuben County Ida
Quit Claim Deed
related
—
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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