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    416 State St Ithaca, NY 14850

    Sponsored
    For Sale
    $465,000

    Prime West End Location, 3108 SF, $465,000

    Property size:
    3,108 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use commercial building at 416 W. State St., Ithaca, NY 14850, presents a unique investment opportunity. Boasting 3,108 square feet, this two-story structure is ideally situated in Ithaca's vibrant and eclectic West End, just blocks from the Ithaca Commons. The property's current configuration includes office space in the front and a one-and-a-half-story apartment in the rear. However, its significant development potential allows for expansion up to five stories, offering flexibility for a variety of uses including retail, apartments, office space, or a mixed-use configuration. The building benefits from on-site parking, a rare and valuable asset in this desirable location. Its proximity to Ironworks Ithaca, a recently completed five-story mixed-use project featuring 129 residential units and 4,800 square feet of retail space, further underscores the area's dynamic growth and potential for increased property value. This is an excellent chance to acquire a substantial property in a thriving neighborhood with considerable upside. The asking price is $465,000. Serious inquiries are encouraged.

    Property Features for 416 State St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    3,108 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Foundry Ithaca Coworking Space Learning Foundations of Ithaca School Poetry of Stone Artist Barracuda Brand Clothing Store Argos Warehouse Lounge ... Event Venue

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ithaca
    County
    Tompkins
    State
    New York
    Longitude
    -76.504765
    Latitude
    42.4395542

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    FAQs

    What type of property is this?
    Mixed-use property - Prime West End Location, 3108 SF, $465,000
    Where is this mixed-use property located?
    The property is located at 416 State St Ithaca, NY.
    What is the asking price?
    The asking price for this property is $465,000.
    Request Owner's contact information
    416 State St Ithaca, NY 14850
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    Ithaca, NY 14850
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    416 State St Ithaca, NY 14850
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