413 W State St Ithaca, NY 14850
Mixed-use property in Ithaca's Business District, redevelopment or investment potential.
- Added:
- Oct 1, 2020
- Days on Market:
- 2111
- Last Refresh:
- May 13 at 8:45 pm
Property Features for 413 W State St
General Information
- Standard status
- Active
- Size
- 5,392 SF
- Property subtype
- General Commercial
Listing office Co (607) 277-2327
Listing date Oct 1, 2020
Source Xome
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.
Key Highlights
- Multi‑family and commercial zoning up to 5 stories allows for redevelopment or investment.
- Located in Ithaca's Business District near the Ironworks Ithaca mixed‑use project.
- Large, open 5,392+\/- SF floor plan with concrete floor.
Local Financial Insights For Mixed Use
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 | $97.1k | $18.00 |
| − Vacancy | −$7.8k | −$1.44 |
| EGI | $89.3k | $16.56 |
| − OpEx | −$33.5k | −$6.21 |
| NOI | $55.8k | $10.35 |
