Goodyear Auto
411 Elmira Road, Ithaca, NY 14850
For Sale
Contact for pricing
The Ithaca property is leased under a Double Net structure with scheduled rent increases.
Property Size10,182 SF
Lot Size0.98 Acres
Price / SF$325.43
Days on Market34
Property Features for 411 Elmira Road
General Information
Standard status
Size
Lot size
Property subtype
Tenancy & Operations
Tenant in Place
In-Place Lease Type
Current Tenants
Real Estate Included
Building Details
Buildings
Tenancy
Listing Agency:
SURMOUNT
Listed By:
Glen Kunofsky · License NY 49KU1129178
(332) 345-4222
Source:
Crexi
Added: Oct 7
Changed: Nov 8
Last Checked: Nov 8 at 5:05PM
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 SURMOUNT
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Investment Insights
Based on property information with market context.
The Goodyear automotive property at 411 Elmira Road in Ithaca, New York, includes 10,182 rentable square feet on an approximately 0.98-acre parcel. The site is subject to a 30-year Double Net (NN) lease that began April 9, 2007. Scheduled rent increases are 5% every five years and in the option periods.
Key Highlights
- 10,182 rentable square feet on an approximately 0.98‑acre parcel
- Goodyear automotive property at 411 Elmira Road, Ithaca, NY 14850
- 30‑year Double Net (NN) lease commenced 4/9/2007
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$129,460
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,589,200
$2.6M
Cap Rate 7%
$1,849,429
$1.8M
Cap Rate 9%
$1,438,444
$1.4M
Market Conditions
NOI Build-Up for 10,182 SF
Gross rent
$193.1K $18.96/SF
− Vacancy
−$8.1K −$0.80/SF
EGI
$184.9K $18.16/SF
− OpEx
−$55.5K −$5.45/SF
NOI
$129.5K $12.71/SF
Area
Tompkins County, NY
Vacancy
4.20%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,589,200
Cap Rate 7%
$1,849,429
Cap Rate 9%
$1,438,444
Alternative Uses
Best Use
Retail
$1.85M
$1.62M – $2.16M
NOI $129,460 @ 7.0% cap · market cap 3.91%
Second Best
Industrial
$899.6K
$787.2K – $1.05M
NOI $62,973 @ 7.0% cap · market cap 1.90%
Theoretical Best
Office A
$3.18M
$2.78M – $3.71M
NOI $222,406 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
132k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Home Improvements & Furnishings 26%
Shops & Services 14%
Apparel 14%
McDonald's
Dining
30,563 visits/mo
0.3 miles
Kohl's
Apparel
18,518 visits/mo
0.1 miles
The Home Depot
Home Improvements & Furnishings
17,682 visits/mo
0.2 miles
Speedway
Shops & Services
15,214 visits/mo
0.4 miles
Dunkin' Donuts
Dining
14,869 visits/mo
0.1 miles
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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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Ithaca Auto Service — 618 Elmira Rd, Ithaca, NY 14850
- Goodyear Auto Service — 411 Elmira Rd, Ithaca, NY 14850
- Mr. Tire Auto Service Centers — 361 Elmira Rd, Ithaca, NY 14850
- Maguire Toyota of Ithaca - Service — 370 Elmira Rd, Ithaca, NY 14850
- Maguire Kia of Ithaca Service — 370 Elmira Rd, Ithaca, NY 14850
Frequently Asked Questions
What type of property is this?
Auto shop - The Ithaca property is leased under a Double Net structure with scheduled rent increases.
Where is this auto shop located?
The property is located at 411 Elmira Road Ithaca, NY.
What is the asking price?
The asking price for this property is $3,313,520.
What are key features of this property?
This property features: 10,182 rentable square feet on an approximately 0.98‑acre parcel; Goodyear automotive property at 411 Elmira Road, Ithaca, NY 14850; 30‑year Double Net (NN) lease commenced 4/9/2007
