Back to Search

Medical Office Building For Sale

2 Ascot Pl, Ithaca, NY 14850

View on Map

For Sale

$1,950,000

Multi-tenant medical office building in Northeast Ithaca for sale.

Type:General Commercial

Property size:

7,905 SF

Lot size:

2.17 Acres

Price / SF:

$246/SF

HighLights

Multi‑tenant 7,905 SF +/- building on 2.17 acres in Northeast Ithaca.
Located in Northeast Business District near healthcare practices and residential neighborhoods.
Owner to lease back main level space, providing immediate rental income.
Ample on‑site parking with 70 spaces.
Built in 1995.
Zoned COMM (Commercial).

We can help!

Contact an agent

Pyramid Brokerage Company

For Sale

$1,950,000

Multi-tenant medical office building in Northeast Ithaca for sale.

Type:General Commercial

Property size:

7,905 SF

Lot size:

2.17 Acres

Price / SF:

$246/SF

Added:: Jan 25, 2025
Days on Market:: 527
Last Refresh:: May 13 at 8:39 pm

Property Features for 2 Ascot Pl

General Information

Standard status: Active
Size: 7,905 SF
Lot size: 2.17 Acres
Property subtype: General Commercial

Building Details

Year Built: 1995

We can help!

Contact an agent

Pyramid Brokerage Company

Listing office Co

Listing date Jan 25, 2025

Source Xome

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Co

HighLights

Multi‑tenant 7,905 SF +/- building on 2.17 acres in Northeast Ithaca.
Located in Northeast Business District near healthcare practices and residential neighborhoods.
Owner to lease back main level space, providing immediate rental income.
Ample on‑site parking with 70 spaces.
Built in 1995.
Zoned COMM (Commercial).

Overview

Located in Northeast Ithaca, this multi-tenant medical office building offers 7,905 square feet of space on a 2.17-acre corner lot. Constructed in 1995, the property is situated just off a commercial corridor within a business district, surrounded by healthcare practices, professional offices, and residential neighborhoods. The building features ample on-site parking. The owner currently operates a medical practice on the main level and intends to lease back the space after the sale. A small suite on the same floor is leased to an audiologist. The lower level is currently vacant, with active leasing efforts in progress. Additional information, including a sales flyer, site plan, and floor plans, are available. Financial details will be provided upon signing a non-disclosure agreement. The property is suitable for medical or professional office use.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$223.9k	$28.32
− Vacancy	−$49.3k	−$6.23
EGI	$174.6k	$22.09
− OpEx	−$43.7k	−$5.52
NOI	$131.0k	$16.57

7,905 SF · lease $28.32/SF/yr · vacancy 22.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$1.87M

$1.64M – $2.18M (±1% cap)

NOI $130,964 @ 7.0% cap · market cap 6.72%

Second Best

Healthcare Medical

$1.69M

$1.48M – $1.97M (±1% cap)

NOI $118,456 @ 7.0% cap · market cap 6.07%

Theoretical Best

Office A

$2.47M

$2.16M – $2.88M (±1% cap)

NOI $172,669 @ 7.0% cap · market cap 8.85%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Cayuga Ent Head ... Medical Clinic Dr. Jonathan E. ... Physician ASHU RUPARELIA, M.D. Physician Rachel Ayers Physician PMA Audibel Hearing ... Hearing Aid Repair Service

Suggested Use

Similar Places Nearby

Cayuga Pet Hospital — 2442 N Triphammer Rd, Ithaca, NY 14850
America Veterinary Med History — 23 Wedgewood Dr, Ithaca, NY 14850

Location Insight

Map
Local Demand

City: Ithaca
County: Tompkins
State: New York
Longitude: -76.4863981
Latitude: 42.490649

Nearby Similar for Sale

$675,000

3,265 SF

3-Unit Residential Income Property

Turnkey 3-unit setup with upgraded finishes, in-unit laundry, and strong owner-occupant flexibility in the Trumansburg School District.

719 Hayts Road, Ithaca, NY 14850

View Details
$999,000

3,636 SF

Downtown Ithaca Winery Opportunity

Turnkey winery with production, tasting rooms, and event space.

815-817 Taber Street, Ithaca, NY 14850

View Details
$425,000

8,374 SF

Ithaca Commercial Property with Redevelopment Potential

Multi-building commercial property with redevelopment potential in Ithaca, New York.

615 Five Mile Drive, Ithaca, NY 14850

View Details
$975,000

4,839 SF

Ithaca Multifamily Investment Opportunity

Well-maintained four-unit property near Cornell and Ithaca College.

101-05 Giles Street, Ithaca, NY 14850

View Details
$595,000

2,214 SF

Established Restaurant Property in Ithaca

Restaurant property in Ithaca's Fall Creek neighborhood with outdoor seating.

202 E Falls Street, Ithaca, NY 14850

View Details
$1,100,000

3,851 SF

Architectural Apartments Near Cornell

Five units near Cornell University with architectural appeal.

119 Stewart Avenue, Ithaca, NY 14850

View Details
$750,000

3,597 SF

Ithaca Two-Family Investment Property

Well-maintained two-family property in Ithaca's desirable Northeast neighborhood.

9 Sanctuary Drive, Ithaca, NY 14850

View Details
$995,000

4,283 SF

Ithaca Multifamily Investment Opportunity

Prime Collegetown location near Cornell University with strong rental potential.

411 Dryden Road, Ithaca, NY 14850

View Details
$395,000

2,964 SF

Ithaca Multi-Family Rental Property

Multi-family rental property in Ithaca, NY with flexible layout.

580 King Road W, Ithaca, NY 14850

View Details
$1,000,000

4,318 SF

Collegetown Multi-Family Residence

Premier multi-family residence in Collegetown, near Cornell University.

505 Dryden Road, Ithaca, NY 14850

View Details
$440,000

2,832 SF

Duplex with Two 3-Bed Units

Two separate duplex units each offer three bedrooms, making the property suitable for rental income or owner-occupancy setups.

180 Kendall Ave, Ithaca, NY 14850

View Details
$355,000

2,678 SF

Three-Unit Income Property

Fully occupied three-unit property with a circular driveway and converted garage creating two additional rental units.

524 Hayts Road, Ithaca, NY 14850

View Details

For sale
Medical Office Space
NY
Ithaca
14850
2 Ascot Pl

What type of property is this?

Medical Office Space - Multi-tenant medical office building in Northeast Ithaca for sale.

Where is this medical office space located?

The property is located at 2 Ascot Pl Ithaca, NY.

What is the asking price?

The asking price for this property is $1,950,000.

What are key features of this property?

This property features: Multi‑tenant 7,905 SF +/- building on 2.17 acres in Northeast Ithaca.; Located in Northeast Business District near healthcare practices and residential neighborhoods.; Owner to lease back main level space, providing immediate rental income.