8434 State Route 54Hammondsport, NY 14840

Property Details for 8434 State Route 54

Year built

1970

Lot size

0.35 AC

Property size (Sq ft)

1,080 SF

Zone code

B

Property type

Auto shops

APN

467289 118.13-01-019.200

APU

4672891181301019200

Description

This exceptional commercial property, located at 8434 State Route 54 in Hammondsport, NY, presents a unique investment opportunity. The property boasts a prime location just outside the village, ensuring high visibility and significant traffic volume along State Route 54. The main building, a modern steel structure, offers 2400 square feet of insulated and heated space, perfect for a variety of commercial uses. High overhead doors provide easy access for larger equipment or vehicles. Currently configured as a mechanical building for boat service and repair, this space is adaptable to many other businesses. A second building, totaling 1080 square feet, is currently used for parts storage and general storage, but its flexible layout allows for diverse reconfiguration options to suit a business's specific needs. Both buildings sit on a desirable 0.35-acre lot, a highly sought-after size for commercial ventures in this area. The total square footage across both buildings is 3480 square feet. The asking price for this turnkey commercial property is $219,995. This presents a rare chance to acquire a well-maintained, strategically located commercial property with significant potential for growth and profitability. The property's existing infrastructure and prime location make it an ideal investment for entrepreneurs and businesses seeking a strong foothold in the Hammondsport market.

• CAP approach

  CAP return

  Valuation

  6%

  $256,371

  6.5%

  $236,650

  7%

  $219,746

• Comparable approach

  Method

  Valuation

  Relative Method

  $248,640

  Geo Method

  $318,452

• Alternative Use

  Use

  Valuation

  Residential

  $199,623

  Hospitality

  $182,854

  Educational

  $152,132

  Medical

  $157,364

  Retail

  $236,650

Location Insight

City

Hammondsport

County

Steuben

State

New York

Latitude

42.3982

Longitude

-77.229

CBSA code

18500

CBSA name

CORNING, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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