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    520 State St Ithaca, NY 14850

    Sponsored
    For Sale
    $950,000

    High-Visibility Office Building, Excellent ROI

    Property size:
    8,424 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional 8,424 square foot brick office building presents a compelling investment opportunity in Ithaca's vibrant downtown West End. Currently boasting five fully leased spaces with a stable, long-term tenant base, this property ensures immediate cash flow. Its strategic location directly off Route 13N provides unparalleled visibility and accessibility, maximizing tenant appeal. The building's unique positioning, spanning from State Street to Seneca Street, offers two convenient access points, further enhancing its desirability. Ample parking is provided with 19 dedicated spaces, a significant advantage in this bustling area. The property sits on a 0.42-acre lot and is zoned to allow for a five-story building, presenting significant potential for future expansion and development, allowing for substantial growth in the years to come. The asking price for this prime commercial property is $950,000. This represents a rare chance to acquire a well-established, income-producing asset with considerable upside potential in a thriving New York market. Detailed information on recent updates and improvements is available upon request.

    Property Features for 520 State St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    8,424 SF
    Lot Size
    18,295 SF

    Building Details

    Year Built
    1980
    Property Profile Location Intelligence

    Current Use by Public Records

    VonBergen Chiropractic Health ... Chiropractor

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Ithaca
    County
    Tompkins
    State
    New York
    Longitude
    -76.50728
    Latitude
    42.43942

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    FAQs

    What type of property is this?
    Office Property / Space - High-Visibility Office Building, Excellent ROI
    Where is this office property / space located?
    The property is located at 520 State St Ithaca, NY.
    What is the asking price?
    The asking price for this property is $950,000.
    (607) 257-0666
    Request Owner's contact information
    520 State St Ithaca, NY 14850
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    Ithaca, NY 14850
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    520 State St Ithaca, NY 14850
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