Skip to main content

Shopping Community

Former Tops Markets

299 S Main St, Elmira, NY 14904

Listing Price: $2,080,000

Cap Rate
9.00%
Rentable SF
98,330
Lot Size
8.32 acres
Year Built
1997

Investment Overview

The subject property is located at 299 South Main Street in Elmira (Chemung County), New York, which is in the heart of Downtown Elmira in a densely populated residential neighborhood. Demographics are strong with over 41,600 people and average household incomes of approximately $60,000 within three miles. Marcus & Millichap and RealINSIGHT Marketplace are pleased to offer for sale, The Former Tops Plaza, a 98,330-square-foot multi-tenant retail strip center, located in Elmira (Chemung County), New York (the “Property”). The center consists of two buildings situated on approximately 8.32 acres. Built in 1997, it features ±765' of frontage along Main Street, large pylon signage, and ample parking for ±472 vehicles (±4.80/1,000 SF ratio). As of 2021, the property has an available Pad Site for development and is approximately 16 percent occupied by three tenants: Dollar Tree (11,300 SF), H&R Block (2,500 SF), and AT&T (1,500 SF). Dollar Tree is a strong national tenant with approximately three years remaining on its lease term. The remaining ±77,000 SF former Tops Supermarkets space, ±6,000 SF of vacant space provide potential investors with an excellent opportunity to add value through lease-up.

Investment Highlights

  • Dollar Tree, AT&T, and H&R Block Provide In Place Income and Bring Shoppers to Center
  • Well Located on South Main Street
  • Directly Across from Aldi and Family Dollar
  • Easy Access Off the Southern Tier Expressway (Interstate 86/Route 17) with 21,173 vehicles per day
  • Tremendous Upside from Lease Up of 77,000 SF Former Tops Markets
  • Upside from Lease Up of 6,000 SF of Vacancies
  • Upside from Development of 5,000 SF Pad Site
  • Located in an Opportunity Zone

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, MA: 138295, CT: REB.0239741, NJ: 9210310

    Westchester

  • Thomas Dalzell

    Licensed Real Estate Salesperson

    (914) 220-9743

    Email Thomas

    License(s): NY: 10401232983

    Westchester

  • Kodi Traver

    Licensed Real Estate Salesperson

    (914) 220-9758

    Email Kodi

    License(s): NY: 10401335618

    Westchester

Shopping Community

Former Tops Markets

Listing Price: $2,080,000

Cap Rate
9.00%
Rentable SF
98,330
Lot Size
8.32 acres
Year Built
1997

Investment Highlights

  • Dollar Tree, AT&T, and H&R Block Provide In Place Income and Bring Shoppers to Center
  • Well Located on South Main Street
  • Directly Across from Aldi and Family Dollar
  • Easy Access Off the Southern Tier Expressway (Interstate 86/Route 17) with 21,173 vehicles per day
  • Tremendous Upside from Lease Up of 77,000 SF Former Tops Markets
  • Upside from Lease Up of 6,000 SF of Vacancies
  • Upside from Development of 5,000 SF Pad Site
  • Located in an Opportunity Zone

Investment Overview

The subject property is located at 299 South Main Street in Elmira (Chemung County), New York, which is in the heart of Downtown Elmira in a densely populated residential neighborhood. Demographics are strong with over 41,600 people and average household incomes of approximately $60,000 within three miles. Marcus & Millichap and RealINSIGHT Marketplace are pleased to offer for sale, The Former Tops Plaza, a 98,330-square-foot multi-tenant retail strip center, located in Elmira (Chemung County), New York (the “Property”). The center consists of two buildings situated on approximately 8.32 acres. Built in 1997, it features ±765' of frontage along Main Street, large pylon signage, and ample parking for ±472 vehicles (±4.80/1,000 SF ratio). As of 2021, the property has an available Pad Site for development and is approximately 16 percent occupied by three tenants: Dollar Tree (11,300 SF), H&R Block (2,500 SF), and AT&T (1,500 SF). Dollar Tree is a strong national tenant with approximately three years remaining on its lease term. The remaining ±77,000 SF former Tops Supermarkets space, ±6,000 SF of vacant space provide potential investors with an excellent opportunity to add value through lease-up.

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, MA: 138295, CT: REB.0239741, NJ: 9210310

    Westchester

  • Thomas Dalzell

    Licensed Real Estate Salesperson

    (914) 220-9743

    Email Thomas

    License(s): NY: 10401232983

    Westchester

  • Kodi Traver

    Licensed Real Estate Salesperson

    (914) 220-9758

    Email Kodi

    License(s): NY: 10401335618

    Westchester

MM Texture Background
MM Textured Background Lower