601-603 Church StElmira, NY 14901

Property Details for 601-603 Church St

Year built

1990

Lot size

0.81 AC

Property size (Sq ft)

8,934 SF

Zone code

UMU

Property type

Investment properties

Property subtype

Retail residential properties

APN

070400 89.16-6-70

APU

704008916670

Description

This 8,934 square foot free-standing medical office building in Elmira, NY, is available for sale at $500,000 ($55.97/sq ft). Recently renovated for medical use, the property boasts a highly visible corner location with two points of access, offering excellent "retail" exposure. Situated directly across from Arnett Health St. Joseph's Hospital Campus and minutes from I-86, this location provides exceptional convenience and accessibility. The building features a recently renovated exterior, ample parking (38 spaces), and a prominent monument sign. The interior is adaptable, presenting an opportunity for conversion to flex warehouse space with grade-level access. The modified lease terms offer flexibility for potential buyers or tenants. This property represents a unique opportunity to acquire a well-maintained, strategically located medical office building in a thriving area of Elmira, New York, within Chemung County, zip code 14901. The building's recent improvements and prime location make it an attractive investment for both medical professionals and investors seeking a strong return. The property is situated at 601-603 E Church St.

• CAP approach

  CAP return

  Valuation

  6%

  $1,670,220

  6.5%

  $1,541,740

  7%

  $1,431,610

• Comparable approach

  Method

  Valuation

  Relative Method

  $832,518

  Geo Method

  $1,190,660

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,116,450

  Retail / Commercial

  $1,569,710

  Hospitality / Lodging

  $1,102,000

  Office

  $1,509,280

  Institutional / Educational

  $1,594,790

  Residential Income

  $1,865,910

  Multifamily

  $2,361,900

  Automotive / Energy

  $1,366,960

  Parking / Income-Based Land

  $493,826

  Restaurant / Food Service

  $754,123

  Healthcare / Senior Housing

  $1,603,970

Location Insight

City

Elmira

County

Chemung

State

New York

Latitude

42.0934

Longitude

-76.7977

CBSA code

21300

CBSA name

ELMIRA, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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