Elevator-Served Office
2333 N Triphammer Rd Ithaca, NY 14850
2333 N Triphammer Rd, Ithaca, NY, 14850
Contact for pricing
For Sale
Contact for pricing
Spacious multi-office layout with elevator service, meeting rooms, and ample on-site parking.
Property Size8,686 SF
Price / SF$166.94
Days on Market200
Property Features for 2333 N Triphammer Rd
General Information
- Standard status
- Active
- Size
- 8,686 SF
- Property subtype
- OFFICE
Listing agency
Cushman & Wakefield | Pyramid Brokerage - Ithaca
(607) 227-7558
Listed by
David Huckle · License #10401231043
(607) 227-7558
Source
Moodyscre
Added: Jan 2 Updated: Jul 20 at 9:23PM Checked: Jul 21 at 4:17AM
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 Cushman & Wakefield | Pyramid Brokerage - Ithaca
Investment Insights
Based on property information with market context.
This elevator-served professional office building offers a flexible condo-style configuration within a village office campus. Interior improvements include a reception area, a mix of private offices and cubicles, meeting rooms, multiple bathrooms, and storage or flex space. The building also includes a security system and a partially finished lower level, providing space that can be adapted to tenant needs.
The property is positioned in Ithaca’s Northeast Business District and is within walking distance of restaurants, shopping, and banking. It is also described as near a bus stop, with short drive access to Cornell University’s campus, downtown Ithaca, and the regional airport.
The current occupant is an insurance agency, and the property is noted as having previously operated as a law firm. With its size and multiple room types, the space is presented with the potential to accommodate multiple tenants.
The property is positioned in Ithaca’s Northeast Business District and is within walking distance of restaurants, shopping, and banking. It is also described as near a bus stop, with short drive access to Cornell University’s campus, downtown Ithaca, and the regional airport.
The current occupant is an insurance agency, and the property is noted as having previously operated as a law firm. With its size and multiple room types, the space is presented with the potential to accommodate multiple tenants.
Key Highlights
- 8,686+/- SF elevator‑served office building in Ithaca’s Northeast Business District
- Commercial office condo in a Village Office Campus with a mix of professional and medical office tenants
- Multi‑tenant potential with current insurance agency use (previously a law firm)
Local Financial Insights For Healthcare Medical
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 | $234.5k | $27.00 |
| − Vacancy | −$17.6k | −$2.03 |
| EGI | $216.9k | $24.98 |
| − OpEx | −$86.8k | −$9.99 |
| NOI | $130.2k | $14.99 |
8,686 SF · lease $27.00/SF/yr · vacancy 7.50% · expense 40.00%
Alternative Uses
Best Use
Office B
$2.06M
$1.80M – $2.40M
NOI $143,903 @ 7.0% cap · market cap 9.92%
Second Best
Healthcare Medical
$1.86M
$1.63M – $2.17M
NOI $130,160 @ 7.0% cap · market cap 8.98%
Theoretical Best
Office A
$2.71M
$2.37M – $3.16M
NOI $189,729 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
KATHRYN M. KARPINSKI, ...
Dental Office
Finger Lakes Endodontics
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Gorges Dental, Anthony ...
Dental Office
Jeremy J. Zobel, ...
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Hage Orthodontics
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FAQs
What type of property is this?
Office building - Spacious multi-office layout with elevator service, meeting rooms, and ample on-site parking.
Where is this office building located?
The property is located at 2333 N Triphammer Rd Ithaca, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 8,686+/- SF elevator‑served office building in Ithaca’s Northeast Business District; Commercial office condo in a Village Office Campus with a mix of professional and medical office tenants; Multi‑tenant potential with current insurance agency use (previously a law firm)
