Individually Owned 
For Lease
1 / 8
$1,100/Mo
642 W Water St, Elmira, NY 14905
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Property summary
AI-generated overview
The property is a commercial space located on a corner in Elmira, New York, with approximately 1,500 square feet of interior area. The layout includes three office rooms, three storage rooms, and a large open-concept area, and it has three separate entrances. The site is positioned along a principal thoroughfare and borders the West Elmira neighborhood. The property is zoned BA.
Property profile
Verified
Property type
Other investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1955
Total area
3,572 SF
Lot
0.06 ac (2,574 SF)
Zoning code
BA
APN
070400 99.06-1-60
UPID
US63-0632187
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
-
Property Management Company
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$265k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$240k
Owner & transaction history
since 2026
2 recorded transactions
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 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 8 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
$240k
Value range
$216k – $264k
±10% around blend
Estimated value / SF
$67 / SF
Confidence
High
8 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
80
Income certainty
100
$216k
blend $240k
$264k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,572 SF
Lot area
0.06 ac
Year built
1955
Stories
2
APN
070400 99.06-1-60
Zoning
BA
Assessed value
$60,000
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$160k
Weighted, 8 comps · high confidence
Evidence
8 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
12.7 mi away · 3,080 SF
12.7 mi away · 2,940 SF
13.1 mi away · 2,800 SF
13.1 mi away · 3,570 SF
15.5 mi away · 3,456 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$240k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 99 sales
$47
+42%
County 139 sales
$52
+28%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $67/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
Not available
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
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: income and sales evidence cover the value conclusion.
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 · 8 sales
NOI build-up · 9 steps
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$570k
Move the market yield to see immediate price impact.
Value / SF
$160
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%
$36k
$718k
$513k
$399k
$40k
$798k
$570k
$443k
$44k
$878k
$627k
$488k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
8 found
High confidence · county-verified
Closest comparable
$161k
12.3 mi · Sep 2025 · $50/SF
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Assessed value
$60,000
Assessed 2023
Previous assessed
$60,000
+0.0% YoY
Assessed land
$12,000
Assessed improvement
$48,000
Land market value
$18,180
Improvement market value
$72,720
Total market value
$90,900
Applied tax rate
70,400.0000
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
Other investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Lease
Year built
1955
Heating
NONE
Cooling
PARTIAL
Buildings
1
Stories
2
Total area
3,572 SF
Lot
0.06 ac (2,574 SF)
Zoning code
BA
APN
070400 99.06-1-60
UPID
US63-0632187
Jurisdiction
CHEMUNG
Zoning & alternative use
BA · Elmira, NYZoning BA · permitted uses
BA · Elmira, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
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
Building & site characteristics
From public records
Year built
1955
Heating
NONE
Cooling
Yes
Stories
2
Buildings
1
Lot
0.06 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
BA
COMMERCIAL
Jurisdiction
Elmira, NY
Recorded code
BA
Official district
BA
Official district profile
What the municipal code says about BA
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
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for BA in Elmira, NY.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
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
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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