Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    306 Main St, Unit 312 Elmira, NY 14901-2710

    • Investment properties
    • 15,462 SF
    • 0.45 lot acres
    OFF-MARKET
    Last Sale
    Sep 01, 2021
    $826,167
    Value Estimations
    $860,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2264160
    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

    • Cricket Wireless Authorized Retailer / Cell Phone Store
    • Aaron's Rent To Own / Furniture Rental Service / Furniture Store

    Property Details for 306 Main St

    Year built
    1960
    Lot size
    0.45 lot acres
    Property size
    15,462 SF
    Zone code
    CBD
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    070400 89.19-3-7
    APU
    70400891937

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $865,000
      ML approach
      $930,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $723,000
      Market price range: $366k - $1.10M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $730,000
      Current use
      OFFICE BUILDING
      $1,035,000
      Change: +42% Conversion: Easy
      RESTAURANT
      $995,000
      Change: +36% Conversion: Difficult
      WAREHOUSE, STORAGE
      $630,000
      Change: -14% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $615,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Elmira
    County
    Chemung
    State
    New York
    Longitude
    -76.8082
    Latitude
    42.0906
    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
    $33,000
    $255,000
    $288,000
    -
    $50,004
    $386,396
    $436,400

    Comparable in this City

    • Value Estimation by Request
      1,884 SF

      121 Lk St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,884 SF
      121 Lk St, Elmira, NY 14901-3406
      View Details
    • Value Estimation by Request
      1,395 SF

      2219 County Rte 60

      OFFICE/RESIDENTIAL (MIXED USE) • 1,395 SF
      2219 County Rte 60, Elmira, NY 14901-9459
      View Details
    • Value Estimation by Request
      2,151 SF

      963 Walnut St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,151 SF
      963 Walnut St, Elmira, NY 14901-1831
      View Details
    • Value Estimation by Request
      1,629 SF

      158 Washington Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,629 SF
      158 Washington Ave, Elmira, NY 14901-1450
      View Details
    • Value Estimation by Request
      3,400 SF

      225 Water St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,400 SF
      225 Water St, Elmira, NY 14901-2912
      View Details
    • Value Estimation by Request
      9,240 SF

      258 Clemens Ctr Pkwy

      OFFICE/RESIDENTIAL (MIXED USE) • 9,240 SF
      258 Clemens Ctr Pkwy, Elmira, NY 14901-3010
      View Details

    Similar Nearby for Sale

    • $99,900
      Pending

      Turnkey Restaurant and Mixed-Use Building

      Established restaurant with mixed-use building for sale in Elmira.
      414-416 W Washington Ave, Elmira, NY 14901
      View Details
    • $93,900
      Pending

      Elmira Duplex: Investment Opportunity

      Centrally located duplex, ideal for investment or owner-occupancy.
      420 W 5Th St, Elmira, NY 14901
      View Details
    • $899,000

      Mixed-Use Property on East Market

      17-unit mixed-use property with income potential on high-visibility street.
      451 E Market St, Elmira, NY 14901
      View Details
    • $1,300,000
      47,280 SF

      Fully Occupied Elmira Office Plaza

      Turnkey investment opportunity with minimal upkeep in Elmira, NY.
      100 N Main St, Elmira, NY 14901
      View Details
    • $89,900
      6,672 SF

      Elmira Mixed-Use Investment Opportunity

      10-unit mixed-use property in Elmira, NY with investment potential.
      419 William St, Elmira, NY 14901
      View Details
    • $545,000
      26,400 SF

      Elmira Warehouse: $545,000

      Vacant industrial warehouse, 26,400 SF.
      801 Hatch St, Elmira, NY 14901
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      86,892 SF

      Sullivan Street Creative Office

      Elmira, NY Creative Office Space
      1140 Sullivan St, Elmira, NY 14901
      View Details
    • $4 SF/Yr
      86,892 SF

      Elmira Office Space For Rent

      Move-in ready office space with flexible floor plan and parking.
      1140 Sullivan St, Elmira, NY 14901
      View Details
    • Contact for pricing
      40,230 SF

      Langdon Plaza Office Space

      Elmira, NY Office Suites Available
      303 Main St, Elmira, NY 14901
      View Details
    • Contact for pricing
      10,945 SF

      Freestanding Retail Building with Drive-Thru

      Former pharmacy with drive-thru, suitable for retail or restaurant.
      119 W 2Nd St, Elmira, NY 14901
      View Details
    • $950 /Mo
      950 SF

      Professional Office Space in Elmira

      Professional 5-room office suite in Commerce Center Building.
      400 E Church St, Elmira, NY 14901
      View Details
    • Contact for pricing
      6,151 SF

      Elmira Retail Center: Lease Space Now

      High-visibility retail space; ample parking.
      1011 College Ave, Elmira, NY 14901
      View Details

    Property Visit Statistics

    • Visits by month
      726
    • Visitors by month
      968
    • Avg Time on site
      52 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    306 Main St, Unit 312
    Elmira, NY 14901-2710
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.