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    508 W State St Ithaca, NY 14850

    For Sale
    $385,000

    COMMERCIAL - Ithaca, NY

    Property size:
    1,507 SF
    Lot size:
    0.05 Acres
    Days on Market:
    349
    Last Refresh:
    Dec 13 at 1:06 pm

    Property Features for 508 W State St

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Sale
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Rooms
    Basement
    APN
    500700 72.-3-17
    Size
    1,507 SF
    Lot size
    0.05 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1975
    Number of units
    1
    Building materials
    Frame
    Roof type
    Metal

    Warren Real Estate (607) 257-0666 [email protected]

    Listing agent Laura Fiore (607) 257-0666 License #10301208660

    Listing date Dec 30, 2024

    Copyright © 2025 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.

    Overview

    Ithaca Investment Opportunity For Sale

    This commercial property, located in Ithaca, New York, presents an investment opportunity with a 5-year NNN lease already in place. The property features a large, open space with a storage area and two bathrooms. The interior has been freshly painted, and the property includes updated heating and air conditioning, as well as an updated 200 AMP electrical service and plumbing. Situated a half block from the upcoming $18 million Iron Works Ithaca housing and retail development project and adjacent to businesses such as GIMMEE Coffee, Saigon Kitchen, Maru Ramen, and the State Diner, the property benefits from a high traffic count off Route 13 North. The property is zoned B-2C, offering many possibilities for use. The sale includes the land and building.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    NNN properties

    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
    -76.506572
    Latitude
    42.439468

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    FAQs

    What type of property is this?
    NNN property - Commercial property with a 5-year NNN lease in Ithaca, NY.
    Where is this nnn property located?
    The property is located at 508 W State St Ithaca, NY.
    What is the asking price?
    The asking price for this property is $385,000.
    What are key features of this property?
    This property features: - 5-year NNN lease in place, providing immediate investment income.; - Prime location near the $18M Iron Works Ithaca development and established businesses (GIMMEE Coffee, Saigon Kitchen, Maru Ramen, State Diner).; - High traffic location off Route 13 North, offering excellent visibility.
    (607) 257-0666
    Request Owner's contact information
    508 W 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
    508 W State St Ithaca, NY 14850
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