Flex Space with Office
312 College Avenue, Ithaca, NY 14850
For Sale
Contact for pricing
Configured with private offices, conference rooms, a kitchenette, breakroom, and multiple bathrooms.
Property Size5,720 SF
Price / SF$1.40
Days on Market48
Property Features for 312 College Avenue
General Information
Standard status
Size
Amenities
private offices
meeting / conference rooms
kitchenette / breakroom
multiple bathrooms
Listing Agency:
Pyramid Brokerage Company - Co
(607) 277-2327
Listed By:
David Huckle · License #10401231043
(607) 227-7558
Source:
Nicholcityrealty
Added: Sep 20
Changed: Oct 26
Last Checked: Nov 6 at 8:36AM
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 Pyramid Brokerage Company - Co
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Investment Insights
Based on property information with market context.
This 5,720+/- SF flex space combines a range of office and support areas within one commercial suite. The existing layout includes private offices, meeting and conference rooms, a kitchenette, breakroom, and multiple bathrooms. The configuration may also accommodate subdivision, subject to the applicable requirements and final layout.
Located in Ithaca’s Collegetown Business District at 312 College Avenue, the property offers a setting suited to professional or medical office use. The existing improvements may also support consideration of retail use, providing flexibility for a range of commercial occupancy plans.
Located in Ithaca’s Collegetown Business District at 312 College Avenue, the property offers a setting suited to professional or medical office use. The existing improvements may also support consideration of retail use, providing flexibility for a range of commercial occupancy plans.
Key Highlights
- 5,720+/- SF flex space
- Private offices with meeting and conference rooms
- Kitchenette and breakroom included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,377
Suggested Prices Based on Cap Rates
Cap Rate 5%
$707,540
$707.5K
Cap Rate 7%
$505,386
$505.4K
Cap Rate 9%
$393,078
$393.1K
Market Conditions
NOI Build-Up for 5,720 SF
Gross rent
$54.2K $9.48/SF
− Vacancy
−$3.7K −$0.64/SF
EGI
$50.5K $8.84/SF
− OpEx
−$15.2K −$2.65/SF
NOI
$35.4K $6.18/SF
Area
Tompkins County, NY
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$707,540
Cap Rate 7%
$505,386
Cap Rate 9%
$393,078
Alternative Uses
Best Use
Office B
$1.35M
$1.18M – $1.58M
NOI $94,764 @ 7.0% cap · market cap 1,184.55%
Second Best
Healthcare Medical
$1.22M
$1.07M – $1.43M
NOI $85,714 @ 7.0% cap · market cap 1,071.43%
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,942 @ 7.0% cap · market cap 1,561.77%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,506
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 14850, NY
69,271
Population
31,772
Households
2.2
Avg Household Size
29
Median Age
72%
College-Educated
96%
High-School Grad
124.8 sq mi
ZIP Area
555
Density / Sq Mi
$69,689
Median Household Income
$36,115
Median Earnings
$1,446
Median Rent
$334,800
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- Beautifully Charcuterie — 115 S Cayuga St, Ithaca, NY 14850
Frequently Asked Questions
What type of property is this?
Flex space - Configured with private offices, conference rooms, a kitchenette, breakroom, and multiple bathrooms.
Where is this flex space located?
The property is located at 312 College Avenue Ithaca, NY.
What are key features of this property?
This property features: 5,720+/- SF flex space; Private offices with meeting and conference rooms; Kitchenette and breakroom included
