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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    957 State Rte 21 Hornell, NY 14843-9607

    • Investment properties
    • 1,600 SF
    • 0.97 lot acres
    OFF-MARKET
    Value Estimations
    $215,000
    Show details
    Cap Rate Potential
    5.8%
    Investment properties
    Location Intelligence
    Property ID
    US63-1390771
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Investment properties

    Property Details for 957 State Rte 21

    Year built
    1929
    Lot size
    0.97 lot acres
    Property size
    1,600 SF
    Zone code
    2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    465289 150.12-01-031.000
    APU
    4652891501201031000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $240,000
      6.5%
      $220,000
      7%
      $205,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $177,000
      Market price range: $62.3k - $178k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hornell
    County
    Steuben
    State
    New York
    Longitude
    -77.6871
    Latitude
    42.3373
    CBSA code
    18500
    CBSA name
    CORNING, NY MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $15,900
    $116,100
    $132,000
    -
    $16,562
    $120,938
    $137,500

    Comparable in this City

    • Value Estimation
      $235,000
      5,078 SF

      124 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,078 SF
      124 Main St, Hornell, NY 14843-1525
      View Details
    • Value Estimation
      $260,000
      2,276 SF

      48 Maple St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,276 SF
      48 Maple St, Hornell, NY 14843-1679
      View Details
    • Value Estimation
      $235,000
      1,792 SF

      977 Polar Bear Ln

      OFFICE/RESIDENTIAL (MIXED USE) • 1,792 SF
      977 Polar Bear Ln, Hornell, NY 14843-9645
      View Details
    • Value Estimation
      $225,000
      6,438 SF

      9 Seneca St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,438 SF
      9 Seneca St, Hornell, NY 14843-1312
      View Details
    • Value Estimation
      $70,000
      1,960 SF

      472 Seneca Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,960 SF
      472 Seneca Rd, Hornell, NY 14843-1044
      View Details
    • Value Estimation
      $230,000
      6,000 SF

      16 Broadway Mall

      OFFICE/RESIDENTIAL (MIXED USE) • 6,000 SF
      16 Broadway Mall, Hornell, NY 14843-1920
      View Details

    Similar Nearby for Sale

    • $399,900
      7,160 SF

      Hornell Office Building Investment

      7,160 SF Multi-Tenant Office Complex
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    • $349,900
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      Multi-Functional Commercial/Residential Property

      Versatile property with office space and two residential units.
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    • $199,000
      11,514 SF

      Warehouse/Distribution Building on 1.5 Acres

      Warehouse/distribution building with offices and one overhead door.
      55 N Main St, Hornell, NY 14843
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    • $250,000
      27,000 SF

      Spacious Retail Property in Hornell

      Two-story, 8,200+/-sf retail building on 1.00+/- acre lot.
      196 Seneca St, Hornell, NY 14843
      View Details
    • $34,900
      18.00 Acres

      18 Acres of Riverfront Land

      18 acres of wooded land with Canisteo River frontage.
      L29 County Rte, Hornell, NY 14843
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    • $92,900

      Spacious Two-Unit Investment Property

      Two-unit property with large yard in desirable neighborhood.
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    Similar Nearby for Lease

    • $399,900

      Adaptable One-Story Building on 13 Acres

      Versatile one-story building suitable for various uses on 13 acres.
      6017 Magee Rd, Hornell, NY 14843
      View Details
    • $5 SF/Yr
      27,000 SF

      Hornell Shopping Plaza Retail Space

      Two retail spaces available for lease.
      7451 Seneca Rd, Hornell, NY 14843
      View Details
    • Contact for pricing
      13,200 SF

      Industrial Shop/Maintenance Facility For Rent

      9,600 SF shop/maintenance facility with 3 bays for rent.
      7774 Industrial Park Rd, Hornell, NY 14843
      View Details
    • Contact for pricing
      13,839 SF

      Hornell Warehouse Space for Lease

      7,250 SF warehouse space available for lease.
      195 Seneca St, Hornell, NY 14843
      View Details
    • Contact for pricing
      2,106 SF

      Retail Space Near Wegmans Market

      Retail, office, or restaurant space with high visibility.
      1000-1044 State Route 36, Hornell, NY 14843
      View Details
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    957 State Rte 21
    Hornell, NY 14843-9607
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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