112-114 Lake Street, Elmira City, NY 14901 (MLS # S1666114)

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112-114 Lake Street presents a compelling mixed-use value-add investment opportunity in the heart of Elmira's commercial corridor. This three-story building totaling approximately 12,000 square feet offers significant upside potential for investors seeking to reposition a downtown asset through renovation and lease-up. The property features two ground-floor retail storefronts with strong street visibility along Lake Street, complemented by multiple residential units above. With its flexible layout and mixed-use configuration, the building offers the potential to create a stabilized income-producing asset by activating the retail spaces and renovating the upper residential units. Originally constructed in 1945, the building includes a full basement and multiple floors of usable space, providing additional opportunities for storage, tenant amenities, or operational support for retail tenants. Situated in downtown Elmira, the property benefits from walkable access to local businesses, retail, and community amenities, making it well-positioned for residential demand and neighborhood-serving commercial uses. The location provides convenient connectivity to surrounding retail, dining, and services within the city's central business district. Offered at an attractive price point, 112-114 Lake Street represents a rare opportunity for investors, developers, or owner-users to acquire a mixed-use asset with substantial value-add potential in an emerging market. Highlights Mixed-use retail and residential building Approx. 12,000 SF across three stories Two street-level retail storefronts Multiple residential units above (value-add opportunity) Full basement for storage or additional use Strong visibility along Lake Street commercial corridor Ideal for investors, developers, or owner-users Significant upside through renovation and lease-up strategy