8436 State Route 54Hammondsport, NY 14840

Property Details for 8436 State Route 54

Year built

1950

Lot size

0.58 AC

Property size (Sq ft)

1,250 SF

Zone code

B

Property type

Auto shops

APN

467289 118.13-01-018.000

APU

4672891181301018000

Description

This exceptional 1,250 square foot mixed-use property, located at 8436 State Route 54 in Hammondsport, NY, presents a unique investment opportunity. Situated on a 0.58-acre lot in a high-traffic, high-visibility area just outside the village, this building offers significant potential. Currently configured as office and retail space, the property boasts a rich history, having previously served as a single-family home. The existing kitchen suggests a straightforward conversion back to residential use if desired. Features include attractive hardwood floors, a full bathroom, and a full basement, providing ample storage and potential for expansion. A new metal roof ensures long-term durability and low maintenance. A detached one-car garage adds further convenience. The property's excellent condition and versatile layout make it ideal for a variety of uses, from continuing its current commercial operation to a complete residential conversion, or a blend of both. The high volume of traffic on State Route 54 guarantees excellent exposure for any business venture. This is a rare opportunity to acquire a well-maintained property in a prime location with significant upside potential. Don't miss out on this chance to capitalize on a thriving business environment. The asking price is $209,995.

• CAP approach

  CAP return

  Valuation

  6%

  $296,725

  6.5%

  $273,900

  7%

  $254,336

• Comparable approach

  Method

  Valuation

  Relative Method

  $287,778

  Geo Method

  $368,581

• Alternative Use

  Use

  Valuation

  Residential

  $231,045

  Hospitality

  $211,636

  Educational

  $176,079

  Medical

  $182,134

  Retail

  $273,900

Location Insight

City

Hammondsport

County

Steuben

State

New York

Latitude

42.3982

Longitude

-77.2285

CBSA code

18500

CBSA name

CORNING, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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