For Sale
$655,000

2447 Corning RdElmira, NY 14903

Prime Retail Opportunity: 6,250 SF Restaurant

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 6,250-square-foot retail property, formerly a Ponderosa Steakhouse, presents a unique investment opportunity in Elmira, New York. Located at 2447 Corning Rd, this single-story building sits on a 2.004-acre lot with 203 feet of road frontage on NY State Route 14, offering tremendous visibility and accessibility. The property boasts a large open floor plan ideal for various uses, complemented by an adjoining banquet or meeting room. Ample parking is available with paved space for 84 cars, and additional expansion potential exists on the adjacent undeveloped land. A prominent roadside pylon sign enhances visibility. The property's strategic location along a primary commercial corridor, near a regional retail hub and I-86, ensures high traffic volume. The current tenant is a church, operating under a modified gross lease with annual increases. Importantly, the seller retains the right to terminate the lease upon sale. The property comprises two parcels (APN: 69.05-1-32.1 & 69.05-1-32.2) and is zoned PUD, Res A. The asking price is $655,000, translating to $104.80 per square foot. Tax data reflects the combined parcels. This property offers significant potential for a variety of commercial ventures.

Highlights

  • 6,250 SF retail building on a 2.004-acre lot in Elmira, NY.
  • Located at 2447 Corning Rd, with 203' of frontage on NY State Route 14.
  • Large open floor plan, banquet/meeting room, and 84 parking spaces.
  • High-traffic location near I-86 and a regional retail hub.
  • Modified gross lease with annual rent increases; seller can terminate lease upon sale.
  • Asking price: $655,000 ($104.80/SF).

Property Details for 2447 Corning Rd

Property type
Retail properties, Restaurants
Square Feet
6,250 SF
Buildings
1
Stories
1
Lot Size (sq. ft)
87,294 SF
Units
1

Location Insight

City
Elmira
County
Chemung
State
New York
Latitude
42.147302098382
Longitude
-76.832322418403
2447 Corning Rd, Elmira, New York

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2447 Corning Rd
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