Property profile

414-416 Washington Ave Elmira, NY 14901

OFF-MARKET
Other investment properties
Property ID
US63-2320510
4,080 SF 0.12 ac lot Built 1925
Entity Owned 21-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This mixed-use property in Elmira City, Chemung County, NY includes a restaurant business, the building, and associated equipment that has been operating since 1973. The restaurant features a spacious open dining area and a fully equipped commercial kitchen with supporting food service equipment, including a walk-in cooler, deep fryer, prep station, meat slicer, soda fountain machine, and a lottery machine. The building provides rear parking for staff and customers and has an attached mixed-use component next door with a ground-level commercial storefront and a fully rented three-bedroom apartment upstairs, which contributes rental living space. The building includes approximately 4,080 square feet of living area and is located minutes from downtown Elmira near other restaurants, shops, and local amenities.

Property profile

Verified
Property type Other investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1925
Total area 4,080 SF
Lot 0.12 ac (5,368 SF)
Zoning code BA
APN 070400 89.10-3-25
UPID US63-2320510

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

414-416 Washington Ave Elmira, NY 14901
Elmira metro Census 400 ELMIRA, NY METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$260k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$360k

Owner & transaction history

Zoning & alternative use

BA · Elmira, NY
Zoning description

250.6.1 Business A-I Intent. [Neighborhood Commercial - I] (Ord. No. 2005-349 dated 10/3/05) The intent of this district is the same as the inte nt and description set forth under section 250.6, Business A, except bars,…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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