313 State Route 96Owego, NY 13827

Property Details for 313 State Route 96

Year built

1980

Lot size

0.62 AC

Property size (Sq ft)

2,226 SF

Zone code

ZONE

Property type

Gas stations

APN

493600 106.09-1-6.20

APU

493600106091620

Description

This exceptional turnkey business opportunity in Owego, NY, presents a rare chance to acquire an established automotive repair shop and sales center with a loyal customer base exceeding 2000 clients. Strategically located between Owego and Ithaca, this property boasts a prime location for continued success. The main building features three spacious bays equipped with lifts and 10-foot overhead doors, ideal for efficient vehicle servicing. An additional separate garage bay, complete with an 8-foot overhead door, offers versatile potential, perhaps as a detailing shop. The 23' x 17' office space includes a comfortable waiting area, a restroom, and a kitchenette, complemented by a large back deck providing scenic views. A second-floor lounge or office area adds further flexibility. A walk-out basement, situated beneath the office, offers additional storage and includes a restroom. The office area benefits from central air conditioning, while the building utilizes fuel oil heating. The garage is heated by a waste oil furnace. Recent upgrades include a new steel roof, new garage doors, and a new well, ensuring the property is well-maintained and energy-efficient. Included in the sale are valuable assets such as a compressor with air lines, a tire machine and balancer, a parts washer, an AC refrigerant management center, and a NYS inspection machine. An automotive expert billing guide is also provided to facilitate a smooth transition. The sizable office space presents an opportunity for a secondary business venture. The property currently houses a real estate office, but this space could be easily adapted to suit a variety of uses. Two full-time mechanics and a sales manager are currently employed at the shop. This is a truly exceptional opportunity for an entrepreneur seeking a well-established and profitable business with significant growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $528,409

  6.5%

  $487,762

  7%

  $452,922

• Comparable approach

  Method

  Valuation

  Relative Method

  $512,476

  Geo Method

  $732,940

• Alternative Use

  Use

  Valuation

  Residential

  $411,445

  Hospitality

  $376,882

  Educational

  $313,561

  Medical

  $324,345

  Retail

  $487,762

Location Insight

City

Owego

County

Tioga

State

New York

Latitude

42.1435

Longitude

-76.2928

CBSA code

13780

CBSA name

BINGHAMTON, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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