South Hill Business
For Sale
$20,750,000
950 Danby Road, Ithaca, NY 14850
Multi-tenant commercial campus near Ithaca College.
Property Size284,591 SF
Lot Size56.00 Acres
Price / SF$72.91
Days on Market128
Property Features for 950 Danby Road
General Information
Standard status
Active
Size
284,591 SF
Lot size
56.00 Acres
Property subtype
FlexIndustrial
Listing Agency:
CBRE | Syracuse
(315) 422-4200
Listed By:
Mark Rupprecht · License #Associate Real Estate Broker
Source:
Cbre
Added: Mar 25
Changed: Jul 6
Last Checked: Jul 30 at 3:58AM
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 CBRE | Syracuse
Investment Insights
Based on property information with market context.
The South Hill Business Campus, located at 950 Danby Rd, Ithaca, NY, presents the opportunity to acquire a large-scale, multi-tenant commercial campus. The property consists of approximately 284,591 square feet of space on approximately 56 acres. The building, which includes a butler building and monitor storage, is currently 95.5% occupied and features a mix of office, light industrial, laboratory, creative, and service-oriented spaces. The property offers suites ranging in size from small studios to large floor plates, allowing for flexible layouts that accommodate a variety of business uses and tenant requirements. The property is a highly stabilized asset with 154 tenants and 212,192 rentable square feet. Surface parking is available with 1,200 spaces. The property also features 10 shared shipping/receiving docks and forklift availability. A Tompkins City Area Transit (TCAT) bus stop is located on site. The property is located adjacent to Ithaca College and is a short drive from downtown Ithaca (1 mile) and Ithaca Tompkins Regional Airport (7.5 miles).
Key Highlights
- 95.5% Occupied Multi‑Tenant Commercial Campus
- ±284,591 sq. ft. building on ±56 acres
- Diversified tenancy with long‑term leasing flexibility
Financial Insights For Industrial
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 | $2.70M | $9.48 |
| − Vacancy | −$183.5k | −$0.64 |
| EGI | $2.51M | $8.84 |
| − OpEx | −$754.3k | −$2.65 |
| NOI | $1.76M | $6.18 |
284,591 SF · lease $9.48/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Office B
$67.36M
$58.94M – $78.58M
NOI $4,714,876 @ 7.0% cap · market cap 22.72%
Second Best
Flex RnD
$53.20M
$46.55M – $62.07M
NOI $3,723,953 @ 7.0% cap · market cap 17.95%
Theoretical Best
Office A
$88.80M
$77.70M – $103.61M
NOI $6,216,342 @ 7.0% cap · market cap 29.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
507
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-tenant commercial campus near Ithaca College.
Where is this mixed-use property located?
The property is located at 950 Danby Road Ithaca, NY.
What is the asking price?
The asking price for this property is $20,750,000.
What are key features of this property?
This property features: 95.5% Occupied Multi‑Tenant Commercial Campus; ±284,591 sq. ft. building on ±56 acres; Diversified tenancy with long‑term leasing flexibility
