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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Investment properties
451 Market St Elmira, NY 14901-3133
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-2117893
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Total area
17,096 SF
Lot
0.21 ac (9,315 SF)
Zoning code
UMU
APN
070400 89.20-1-31
UPID
US63-2117893
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
-
Open Door Baptist Church Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$760k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$439k
Blend (final)
Blend
$725k
Owner & transaction history
A And I Elmira Properties · 3 yrs held
A And I Elmira Properties
since 2023
Last sale
$700,000
4 recorded transactions
Zoning & alternative use
UMU · Elmira, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.1M
+41.9%
Restaurant
$1.1M
+36.4%
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
$705,000
ML approach
$760,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$810,000
Current use
OFFICE BUILDING
$1,145,000
Change: +42% · Conversion: Easy
RESTAURANT
$1,100,000
Change: +36% · Conversion: Difficult
WAREHOUSE, STORAGE
$695,000
Change: -14% · Conversion: Difficult
AUTO REPAIR, GARAGE
$680,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$725k
Range $653k – $798k · ±10% · vs last sale $700k (Jun 14 2023)
Last sale anchor
$700k
Jun 14 2023
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
$42 / 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
Assessed value
$175,000
Assessed 2023
Previous assessed
$175,000
+0.0% YoY
Assessed land
$23,000
Assessed improvement
$152,000
Land market value
$34,855
Improvement market value
$230,345
Total market value
$265,200
Applied tax rate
70,400.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1900
Heating
NONE
Buildings
1
Stories
2
Total area
17,096 SF
Lot
0.21 ac (9,315 SF)
Zoning code
UMU
APN
070400 89.20-1-31
UPID
US63-2117893
Jurisdiction
CHEMUNG
Zoning & alternative use
UMU · Elmira, NY
Zoning UMU · permitted uses
UMU · 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
COMMERCIAL (GENERAL) Current
Est. value
$810,000
OFFICE BUILDING
Est. value
$1.1M
RESTAURANT
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$695,000
AUTO REPAIR, GARAGE
Est. value
$680,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RESTAURANT
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
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
1900
Heating
NONE
Stories
2
Buildings
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
A And I Elmira Properties
Entity
Mailing address
7702 POWHATAN ST, NEW CARROLLTON, MD 20784-3528
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 14, 2023
$700,000
A And I Elmira Properties
Sk Construction And Prope
Warranty Deed
$636,750 · M & T Bank
Sep 27, 2019
—
Management LLC Sk Constru
Development INC Five Star
Deed
—
Mar 25, 2014
$70,000
Five Star Realty Development
Chemung Canal Trust Company
Deed
—
Jan 22, 2013
$116,068
Chemung Canal Trust Compa
200 William St Realty Cor
Deed
—
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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