8465 State Route 54Hammondsport, NY 14840

  • Bars
  • 2,066 SF
For Sale
$189,900 View listing

Property Details for 8465 State Route 54

Year built
1975
Lot size
1.50 AC
Property size (Sq ft)
2,066 SF
Zone code
B
Property type
Bars
Property subtype
Pubs
APN
467289 118.13-01-001.000
APU
4672891181301001000

Description

This exceptional commercial property boasts a prime location on State Route 54, just outside the Village of Hammondsport and conveniently situated near Keuka Lake. The 1.5-acre lot offers significant visibility and accessibility with an impressive 340 feet of road frontage. This high-traffic area ensures substantial exposure for any business. The property includes an existing building, providing immediate occupancy potential, and is positioned directly across the road from a newly constructed Best Western Hotel, further enhancing its desirability and potential for synergy. The combination of ample land, a strategic location, and the presence of a nearby established hotel presents a unique opportunity for a variety of commercial ventures. The 2,066 square foot building offers considerable space for development or immediate use. This property is ideal for businesses seeking high visibility and convenient access to a thriving tourist destination and local community. The significant road frontage and ample land provide flexibility for expansion or future development. Don't miss this chance to secure a prominent commercial presence in a desirable location. This is an exceptional opportunity for growth and investment.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $490,428
    6.5%
    $452,703
    7%
    $420,367
  • Comparable approach

    Method
    Valuation
    Relative Method
    $475,640
    Geo Method
    $609,224
  • Alternative Use

    Use
    Valuation
    Residential
    $381,872
    Hospitality
    $349,792
    Educational
    $291,023
    Medical
    $301,032
    Retail
    $452,703

Location Insight

City
Hammondsport
County
Steuben
State
New York
Latitude
42.4003
Longitude
-77.2259
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
-
$63,500
$45,300
$108,800
-
$76,506
$54,578
$131,084

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