Four-Story Mixed-Use
158 E State St Ithaca, NY 14850
158 E State St, Ithaca, NY, 14850
$1,895,000
For Sale
$1,895,000
Four-story mixed-use building with fully leased retail, business service, and apartment floors.
Property Size6,670 SF
Price / SF$284.11
Days on Market449
Property Features for 158 E State St
General Information
- Standard status
- Active
- Size
- 6,670 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1862
Listing agency
Co
(607) 227-7558
Listed by
Pyramid Brokerage Company
(607) 227-7558
Source
Xome
Added: Apr 30, 2025 Updated: Jul 22 at 8:06AM Checked: Jul 22 at 8:06AM
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
Investment Insights
Based on property information with market context.
This four-story, five-level mixed-use building offers approximately 6,670 square feet and is fully leased. The ground floor is configured for retail across two levels, the second floor is designated for business service use, and the third and fourth floors contain apartments.
The property is described as being in the center of the Ithaca Commons. The listing materials include an offering memorandum and video, along with floor plans and a summary of restoration and renovations.
Additional financial information is provided upon signing an NDA. See accompanying floor plans and the restoration and renovation summary for more detail on the property’s improvements and configuration.
The property is described as being in the center of the Ithaca Commons. The listing materials include an offering memorandum and video, along with floor plans and a summary of restoration and renovations.
Additional financial information is provided upon signing an NDA. See accompanying floor plans and the restoration and renovation summary for more detail on the property’s improvements and configuration.
Key Highlights
- Iconic 4‑story American Crafts mixed‑use building (5 levels) with 6,670 SF in the center of the Ithaca Commons
- Mixed‑use tenant setup: ground‑floor retail (2 levels), 2nd‑floor business service use, and 3rd & 4th‑floor apartments
- Building is fully leased
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $188.9k | $28.32 |
| − Vacancy | −$41.6k | −$6.23 |
| EGI | $147.3k | $22.09 |
| − OpEx | −$36.8k | −$5.52 |
| NOI | $110.5k | $16.57 |
6,670 SF · lease $28.32/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.58M
$1.38M – $1.84M
NOI $110,503 @ 7.0% cap · market cap 5.83%
Second Best
Retail
$1.21M
$1.06M – $1.41M
NOI $84,806 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,693 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
American Crafts by ...
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Four-story mixed-use building with fully leased retail, business service, and apartment floors.
Where is this mixed-use property located?
The property is located at 158 E State St Ithaca, NY.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Iconic 4‑story American Crafts mixed‑use building (5 levels) with 6,670 SF in the center of the Ithaca Commons; Mixed‑use tenant setup: ground‑floor retail (2 levels), 2nd‑floor business service use, and 3rd & 4th‑floor apartments; Building is fully leased
