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

    446 Water St Elmira, NY 14901-3411

    • Office buildings
    • 1,496 SF
    • 0.30 lot acres
    OFF-MARKET
    Last Sale
    Sep 16, 2020
    $122,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2962858
    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

    • Southern Tier Audiology, a Timeless Hearing network provider / Audiologist / Hearing Aid Repair Service
    • Amanda Levy / Audiologist / Health Care Facility

    Property Details for 446 Water St

    Year built
    1978
    Lot size
    0.30 lot acres
    Property size
    1,496 SF
    Zone code
    UMU
    Property type
    Office buildings
    APN
    070400 89.20-3-3
    APU
    70400892033

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Elmira
    County
    Chemung
    State
    New York
    Longitude
    -76.7992
    Latitude
    42.0883
    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
    $24,000
    $90,000
    $114,000
    -
    $36,358
    $136,342
    $172,700

    Comparable in this City

    • Value Estimation by Request
      3,884 SF

      311 Lk St

      PROFESSIONAL BUILDING • 3,884 SF
      311 Lk St, Elmira, NY 14901-2804
      View Details
    • Value Estimation
      $4,695,000
      52,122 SF

      200 Madison Ave

      PROFESSIONAL BUILDING • 52,122 SF
      200 Madison Ave, Elmira, NY 14901-3218
      View Details
    • Value Estimation by Request
      5,962 SF

      217 Madison Ave

      OFFICE BUILDING • 5,962 SF
      217 Madison Ave, Elmira, NY 14901-3204
      View Details
    • Value Estimation by Request
      1,706 SF

      319 Church St

      OFFICE BUILDING • 1,706 SF
      319 Church St, Elmira, NY 14901-2601
      View Details
    • Value Estimation by Request
      12,549 SF

      214 Church St

      OFFICE BUILDING • 12,549 SF
      214 Church St, Elmira, NY 14901-2702
      View Details
    • Value Estimation
      $1,330,000
      29,580 SF

      100 Church St

      PROFESSIONAL BUILDING • 29,580 SF
      100 Church St, Elmira, NY 14901-2717
      View Details

    Similar Nearby for Sale

    • $115,000
      2,201 SF

      Elmira Office Building For Sale

      One-story brick office building in Elmira's Near Westside neighborhood.
      406 W Church 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
    • $1,300,000

      Fully Occupied Office Plaza

      Turnkey office plaza with updated systems and secure access.
      100 N Main St, Elmira, NY 14901
      View Details
    • $310,000

      Versatile Office Space For Sale

      Office property featuring over 3,700 sq ft of space.
      304 Hoffman St, Elmira, NY 14901
      View Details
    • $89,000
      1,112 SF

      Charming Elmira Office Building

      1,112 SF Office w/ Garage - $89K
      450 Church St, Elmira, NY 14901
      View Details
    • $169,900

      Elmira Commercial Opportunity For Sale

      Versatile commercial building with office spaces and ample parking.
      357 E 5Th St, Elmira, NY 14901
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      50,000 SF

      1316 College Avenue, Elmira, NY,

      Office space • 50,000 SF
      1316 College Ave, Elmira, NY 14901
      View Details
    • $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
    • $950 /Mo
      580 SF

      Elmira Office Space For Rent

      Visible office space on Lake Road, Elmira, with parking.
      1408 D Lk St, Elmira, NY 14901
      View Details
    • $4 SF/Yr
      86,892 SF

      Elmira Office Space For Rent

      Office space with private offices, conference rooms, 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
    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.
    446 Water St
    Elmira, NY 14901-3411
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.