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Property profile & analytics
FOR LEASE
Super regional malls
801 Lake St, Elmira, NY 14901
Entity Owned
5-yr Hold
Free & Clear
Property ID
US63-0142520
For Lease
$2,980,000
801 Lake St, Elmira, NY 14901
View Listing →
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1978
Total area
51,970 SF
Lot
4.92 ac (214,315 SF)
Zoning code
UMU
APN
070400 89.11-5-2
UPID
US63-0142520
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
-
Elmira Plaza Shopping Center & Mall
-
Dollar General Discount Store
-
Big Lots Discount Store
-
Western Union Bank Credit Union
-
Rahma Engagement Rings Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.12M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.98M
Owner & transaction history
Warren L12 LLC · 5 yrs held
Warren L12 LLC
since 2020
Last sale
$2.8M
6 recorded transactions
Zoning & alternative use
UMU · Elmira, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.2M
+259.4%
Restaurant
$3.8M
+226.8%
Office building
$3.0M
+158.9%
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
$3,210,000
ML approach
$3,120,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,215,000
Change: +259% · Conversion: Easy
RESTAURANT
$3,835,000
Change: +227% · Conversion: Difficult
OFFICE BUILDING
$3,040,000
Change: +159% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,950,000
Change: +151% · Conversion: Difficult
MEDICAL BUILDING
$2,795,000
Change: +138% · Conversion: Difficult
RETAIL STORES
$2,025,000
Change: +73% · Conversion: Easy
WAREHOUSE, STORAGE
$1,975,000
Change: +68% · Conversion: Difficult
Blend value · Realmo final
$2.98M
Range $2.68M – $3.28M · ±10% · vs last sale $2.80M (Dec 10 2020)
Last sale anchor
$2.80M
Dec 10 2020
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
$57 / 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
$1,380,000
Assessed 2023
Previous assessed
$1,380,000
+0.0% YoY
Assessed land
$295,000
Assessed improvement
$1,085,000
Land market value
$446,968
Improvement market value
$1,643,932
Total market value
$2,090,900
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
1978
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
51,970 SF
Lot
4.92 ac (214,315 SF)
Zoning code
UMU
APN
070400 89.11-5-2
UPID
US63-0142520
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)
Est. value
$4.2M
RESTAURANT
Est. value
$3.8M
OFFICE BUILDING
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.8M
RETAIL STORES
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$2.0M
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
1978
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
4.92 ac
Current owner
From public records · entity-resolved
Warren L12 LLC
Entity
Free & Clear · 5 yrs held
Mailing address
12 ISELIN TER, LARCHMONT, NY 10538-2631
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 10, 2020
$2,800,000
Warren L12 LLC
Elmira Plaza Associates
Deed
—
Jun 10, 2014
$2,025,000
Elmira Plaza Associates,
Bre Non-core 2 Owner A Ll
Deed
—
Nov 6, 2013
—
Bre Non-core 2 Owner A Ll
Bre Retail Residual Owner
Deed
—
Aug 3, 2011
—
Bre Retail Residual Owner
Centro Np Residual Pool 1
Deed
—
Mar 5, 2009
—
Centro Np Residual Pool 1
Super Intermediate Co LLC
Deed
—
Jul 25, 2007
—
Super Inter Mediate Co
St INC New Plan Excel Realty Trust
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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