Urban Manufacturing Facility with Tasting
For Sale
Contact for pricing
815 TABER ST, Ithaca, NY 14850
Fully equipped urban winery combining on-site production, visitor spaces, and direct-to-consumer operations.
Property Size3,636 SF
Price / SF$274.75
Days on Market110
Property Features for 815 TABER ST
General Information
Standard status
Active
Size
3,636 SF
Total Parking Spaces
7
Property subtype
Retail, Business for Sale
Additional Details
Business Included
Yes
Liquor License
Yes
Amenities
fully equipped production room
two tasting rooms
private inner courtyard
museum space
Building Details
Year Built
2012
Stories
2
Units
2
Listing Agency:
Warren Real Estate
(239) 887-5953
Listed By:
Kate Seaman · License #30SE0908346
Source:
Crexi
Added: May 14
Changed: Aug 30
Last Checked: Aug 30 at 2:40PM
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 Warren Real Estate
Investment Insights
Based on property information with market context.
This 3,636-square-foot manufacturing property, built in 2012, operates as an urban winery with production completed on site from grape processing through bottling and labeling. The facility includes a production room, two tasting rooms, a private inner courtyard, and a museum displaying antique French winemaking equipment. Its wine program uses Finger Lakes vinifera grapes and includes still, sparkling, and fortified wines, with some fortified blends aged up to 20 years.
Located at 815 Taber St in downtown Ithaca, the property combines manufacturing space with an established visitor experience. The building incorporates regional architectural salvage and has received recognition from Historic Ithaca and the City of Ithaca. Operations include distribution and licensing to ship to 40 states, along with direct sales, events, and educational tours.
Located at 815 Taber St in downtown Ithaca, the property combines manufacturing space with an established visitor experience. The building incorporates regional architectural salvage and has received recognition from Historic Ithaca and the City of Ithaca. Operations include distribution and licensing to ship to 40 states, along with direct sales, events, and educational tours.
Key Highlights
- 3,636 SF manufacturing property at 815 Taber St, Ithaca, NY 14850
- Urban winery with on‑site crushing, aging, bottling, and labeling
- Two tasting rooms, private inner courtyard, and museum 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
$46,230
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
4.63%
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%
$924,600
$924.6K
Cap Rate 7%
$660,429
$660.4K
Cap Rate 9%
$513,667
$513.7K
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
$68.9K $18.96/SF
− Vacancy
−$2.9K −$0.80/SF
EGI
$66.0K $18.16/SF
− OpEx
−$19.8K −$5.45/SF
NOI
$46.2K $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 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%
$924,600
Cap Rate 7%
$660,429
Cap Rate 9%
$513,667
Alternative Uses
Best Use
Retail
$660.4K
$577.9K – $770.5K
NOI $46,230 @ 7.0% cap · market cap 4.63%
Second Best
Industrial
$321.3K
$281.1K – $374.8K
NOI $22,488 @ 7.0% cap · market cap 2.25%
Theoretical Best
Office A
$1.13M
$992.8K – $1.32M
NOI $79,421 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
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?
Manufacturing property - Fully equipped urban winery combining on-site production, visitor spaces, and direct-to-consumer operations.
Where is this manufacturing property located?
The property is located at 815 TABER ST Ithaca, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 3,636 SF manufacturing property at 815 Taber St, Ithaca, NY 14850; Urban winery with on‑site crushing, aging, bottling, and labeling; Two tasting rooms, private inner courtyard, and museum space
