Entity Owned Property summary
AI-generated overview
The property is a pad site offered for ground leasing within a 50,803± square foot shopping plaza located at the corner of Lake Street and Washington Avenue. The site is positioned to support quick-service restaurant use with drive-through capability, and the plaza includes major retail tenants such as Big Lots, Dollar General, and Rent-A-Center, with Wegmans present in the same shopping center as a traffic generator. The surrounding area is primarily residential with numerous nearby homes, and additional retail centers in the vicinity include Wegmans Plaza, Weiss Markets, and Langdon Plaza to the north of the river and Tops Plaza to the south of the river featuring a Dollar Tree. The site benefits from access to Elmira and Horseheads via I-86 (17), Clemens Center Parkway, Route 14 (Lake Street), and Route 352 (Church and Water Streets), and there is a Burger King located on the opposite corner from Elmira Plaza.
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
Current use
Occupant on record · Public records
-
Shopping Center & Mall
-
Discount Store
-
Discount Store
-
Bank Credit Union
-
Big Box & Wholesale Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.12M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.21M
Owner & transaction history
since 2020
Last sale
$2.8M
6 recorded transactions
Zoning & alternative use
UMU · Elmira, NY
General category
MIXED_USE
Top alternative use upside
Commercial (general)
$4.2M
+259.4%
Restaurant
$3.8M
+226.8%
Office building
$3.0M
+158.9%
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.
7 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$3.21M
Value range
$2.89M – $3.53M
±10% around blend
Estimated value / SF
$62 / SF
Confidence
Property data
88
Comparable evidence
60
$2.89M
blend $3.21M
$3.53M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
51,970 SF
Lot area
4.92 ac
Year built
1978
Stories
1
APN
070400 89.11-5-2
Zoning
UMU
Assessed value
$1,380,000
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.21M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+259%
vs current-use indication
Restaurant
Office Building
Auto Repair, Garage
Medical Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
Not available
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.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 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$2.80M
Move the market yield to see immediate price impact.
Value / SF
$54
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%
$176k
$3.53M
$2.52M
$1.96M
$196k
$3.92M
$2.80M
$2.18M
$216k
$4.31M
$3.08M
$2.40M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
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
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
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, NYZoning UMU · permitted uses
UMU · Elmira, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
General category
MIXED_USE
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · 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
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
UMU
MIXED_USE
Jurisdiction
Elmira, NY
Recorded code
UMU
Official district
UMU
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for UMU in Elmira, NY.
What opens after registration
Zoning profile
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.
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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.
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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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