Individually Owned Property summary
AI-generated overview
This 2,318-square-foot restaurant building in Horseheads, NY, is available for $350,000. Located at 455 Old Ithaca Rd, in Chemung County, this property sits on a 0.93-acre lot and offers a turnkey opportunity for a new restaurant owner. The building is currently configured as a former pizzeria, and all existing equipment and furniture are included in the sale price. The property boasts ample paved parking, providing convenient access for customers. Its strategic location just off the highway ensures high visibility and accessibility for both local residents and travelers. The asking price of $350,000 translates to $150.99 per square foot. This presents a compelling investment opportunity in a desirable residential neighborhood with significant potential for growth and profitability. The property's existing infrastructure and included equipment minimize start-up costs and allow for a quick transition to a new business. The spacious lot offers potential for future expansion. This is a rare opportunity to acquire a well-situated, fully equipped restaurant in a thriving community. The zip code is 14845.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1955
Total area
2,318 SF
Lot
0.93 ac (40,400 SF)
Zoning code
TH02
APN
073489 49.02-4-59
UPID
US63-5995195
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Restaurant
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$285k
Owner & transaction history
since 2019
3 recorded transactions
Zoning & alternative use
TH02 · Horseheads, NY
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 3 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$285k
Value range
$257k – $314k
±10% around blend
Estimated value / SF
$123 / SF
Confidence
Low
3 county-verified comps
Property data
100
Market benchmarks
33
Comparable evidence
30
$257k
blend $285k
$314k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
2,318 SF
Lot area
0.93 ac
Year built
1955
Stories
1
APN
073489 49.02-4-59
Zoning
TH02
Assessed value
$275,800
Annual tax
$2,614
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$200k
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
24.7 mi away · 2,496 SF
24.8 mi away · 2,800 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$285k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 17 sales
$64
+91%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $123/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$276k
Move the market yield to see immediate price impact.
Value / SF
$119
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$17k
$348k
$248k
$193k
$19k
$386k
$276k
$215k
$21k
$425k
$303k
$236k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$253k
8.7 mi · Dec 2025 · $86/SF
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$2,614
Tax year 2020
Assessed value
$275,800
Assessed 2023
Previous assessed
$275,800
+0.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$180,000
Assessed improvement
$95,800
Land market value
$181,818
Improvement market value
$96,768
Total market value
$278,586
Applied tax rate
73,401.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1955
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
2,318 SF
Lot
0.93 ac (40,400 SF)
Zoning code
TH02
APN
073489 49.02-4-59
UPID
US63-5995195
Jurisdiction
CHEMUNG
Zoning & alternative use
TH02 · Horseheads, NYZoning TH02 · permitted uses
TH02 · Horseheads, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1955
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
0.93 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
TH02
Jurisdiction
Horseheads, NY
Recorded code
TH02
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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