Character-Rich Mixed-Use Commercial
For Sale
$640,000
815-817 Taber Street, Ithaca, NY 14850
COMMERCIAL - Ithaca, NY
Property Size3,636 SF
Lot Size0.19 Acres
Price / SF$176.02
Days on Market46
Property Features for 815-817 Taber Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CSD
Zoning description
Light Industrial
Parking
7
Security features
Security
Lot features
Rectangular, Rectangular Lot
Elementary school
Fall Creek Elementary
Middle school
Boynton Middle
High school
Ithaca Senior High
Elementary school district
Ithaca
Middle school district
Ithaca
High school district
Ithaca
Subdivision
Ithaca-City-500700
Standard status
Active
APN
500700-073-000-0011-002-000-0000
Size
3,636 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
10004
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Radiant
Cooling system
Central Air
Water source
Public
Amenities
private courtyard
Building Details
Year built
2003
Floors in Building
2
Number of units
2
Building materials
FoamInsulation
Roof type
Asphalt, Rubber, Membrane
Listing Agency:
Warren Real Estate of Ithaca Inc.
(607) 257-0666
Listed By:
Kathleen (Kate) Seaman · License #30SE0908346
(607) 280-3339
Added: Jul 10
Changed: Aug 19
Last Checked: Aug 24 at 3:06PM
MLS# R1696253
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,636-square-foot mixed-use commercial property occupies a 0.19-acre site and was built in 2003. The building includes production and workshop areas, multiple finished commercial rooms, two public-facing rooms, additional display space, and a private courtyard. Construction incorporates regional architectural salvage, with foam insulation, forced-air, natural gas, and radiant heating, central air conditioning, and public water and sewer.
The property is located along Ithaca’s Waterfront Trail in the West End, with access to the Ithaca Commons, Cayuga Lake, the Farmers Market, and surrounding restaurants, shops, and businesses. Zoning is CSD. The sale covers the commercial real estate; the winery business, brand, equipment, inventory, licenses, and intellectual property are excluded, though they may be available separately.
The property is located along Ithaca’s Waterfront Trail in the West End, with access to the Ithaca Commons, Cayuga Lake, the Farmers Market, and surrounding restaurants, shops, and businesses. Zoning is CSD. The sale covers the commercial real estate; the winery business, brand, equipment, inventory, licenses, and intellectual property are excluded, though they may be available separately.
Key Highlights
- 3,636 SF mixed‑use commercial building on a 0.19‑acre site
- CSD zoning with multiple finished commercial rooms and two public‑facing rooms
- Production and workshop areas plus dedicated display space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,633
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$752,660
$752.7K
Cap Rate 7%
$537,614
$537.6K
Cap Rate 9%
$418,144
$418.1K
Market Conditions
NOI Build-Up for 3,636 SF
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.
Gross rent
$65.4K $18.00/SF
− Vacancy
−$5.2K −$1.44/SF
EGI
$60.2K $16.56/SF
− OpEx
−$22.6K −$6.21/SF
NOI
$37.6K $10.35/SF
Area
Tompkins County, NY
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$752,660
Cap Rate 7%
$537,614
Cap Rate 9%
$418,144
Alternative Uses
Best Use
Mixed Use
$537.6K
$470.4K – $627.2K
NOI $37,633 @ 7.0% cap · market cap 5.88%
Second Best
Industrial
$321.3K
$281.1K – $374.8K
NOI $22,488 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$1.13M
$992.8K – $1.32M
NOI $79,421 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,041
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial space with production areas, finished rooms, public-facing space, and a private courtyard in Ithaca’s West End.
Where is this mixed-use property located?
The property is located at 815-817 Taber Street Ithaca, NY.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: 3,636 SF mixed‑use commercial building on a 0.19‑acre site; CSD zoning with multiple finished commercial rooms and two public‑facing rooms; Production and workshop areas plus dedicated display space
