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Classic Auction - Retail

Former Tops Plaza | Elmira, NY

299 South Main Street, Elmira, NY 14904

ClosedSeptember 7th, 2021
This asset was part of the July 21st 2021 sale event, resulting in a successful transaction that closed in just 48 days.

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  • Asset Type
  • Real Estate
  • Property Type
  • Retail
  • Land Area
  • 8.33 Acres
  • Year Built
  • 1997
  • Number of Buildings
  • 3
  • Parking Count
  • 447
  • Occupancy
  • 17.12%
  • Occupancy as of
  • Apr 01, 2021
  • Retail Type
  • Neighborhood Center
  • Anchor
  • No
  • Property Size
  • 98,330 Sq Ft

Tremendous Upside Opportunity

Investment Highlights:

  • Tremendous Upside from Lease Up of Former Tops Markets
  • Upside from Development of 5,000 SF Pad Site
  • Located in an Opportunity Zone
  • Dollar Tree, AT&T, Zoom Tan 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


The Offering:

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 17 percent occupied by four tenants: Dollar Tree (11,300 SF), H&R Block (2,500 SF), Zoom Tan (1,500 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, ±4,500 SF of vacant space provide potential investors with an excellent opportunity to add value through lease-up.

Property Tours:  

Property tours are available by request.  Please contact the Marcus & Millichap team to schedule your tour.

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

ClosedSeptember 7th, 2021
This asset was part of the July 21st 2021 sale event, resulting in a successful transaction that closed in just 48 days.

Ready to sell your asset on the platform with the highest trade rate in the industry?
Get Started Today!

Need Help?

Have questions about Marketplace? You can reach us at 800.915.7015 or info@rimarketplace.com.

Auctioneer

  • Ralph Passono, Jr.

    c/o Fisher Auction Company Inc.

    License: 1 NY Broker No.:10311203946