Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    319 Pennsylvania Ave Trumansburg, NY 14850

    • Commercial real estate
    • 3,960 SF
    • 3.09 lot acres
    For Sale
    View listing
    $450,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3408828
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 319 Pennsylvania Ave

    Year built
    1984
    Lot size
    3.09 lot acres
    Property size
    3,960 SF
    Property type
    Commercial real estate

    Description

    This exceptional 3,960 square foot commercial property, situated on a generous 3.09-acre lot in the charming village of Trumansburg, New York, presents a unique investment opportunity. The building, formerly a church/meetinghouse, boasts a flexible layout ideal for a variety of uses. Imagine transforming this spacious one-story structure into a thriving medical or professional office complex, a multi-family dwelling, or a stunning residential property. The interior features a combination of multiple private rooms, large meeting areas perfect for collaborative work or community gatherings, three sizable bathrooms, a convenient kitchenette, and adaptable flex space to suit your specific needs. Ample on-site parking is available, accommodating 36-40 vehicles, ensuring convenient access for staff, clients, or residents. The expansive lot offers significant potential for expansion of the existing building or the possibility of subdividing a portion for resale, creating additional revenue streams. This property's prime location provides easy access to the vibrant downtown Trumansburg area, offering a blend of convenience and tranquility. Don't miss this chance to acquire a versatile property with immense potential in a desirable location. Priced at $450,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Trumansburg
    County
    Tompkins
    State
    New York
    Longitude
    -76.66447
    Latitude
    42.52963

    Comparable in this City

    • $220,000
      1,750 SF

      Profitable Collegetown Pizzeria

      Established Ithaca eatery, high-profit potential.
      139 Dryden Rd, Ithaca, NY 14850
      View Details
    • $1,900,000
      21,717 SF

      Collegetown Ithaca Development Opportunity

      Prime Cornell location, 35-unit potential.
      228 Dryden Rd, Ithaca, NY 14850
      View Details
    • $4,750,000
      9,676 SF

      Ithaca College Town Development Site

      Prime Cornell location, 47,000+ SF potential
      309 College Ave, Ithaca, NY 14850
      View Details
    • $1,100,000
      2,609 SF

      Iconic Ithaca Waterfront Restaurant

      Established eatery, prime location, high potential.
      319 Taughannock Blvd, Ithaca, NY 14850
      View Details
    • $1,900,000

      Collegetown Ithaca Development Land

      Prime Cornell location, 23,479 SF, 35-unit potential.
      228 Dryden Rd, Ithaca, NY 14850
      View Details
    • $295,000
      6,250 SF

      Ithaca Commercial Building - Great Potential

      Spacious commercial building, 1.63 acres, $295,000.
      2303 Mecklenburg Rd, Ithaca, NY 14850
      View Details

    Similar Nearby for Sale

    • $479,000
      4,800 SF

      Ithaca Multifamily Investment Opportunity

      Five-unit property, high cash flow, prime location.
      371 Applegate Rd, Ithaca, NY 14850
      View Details
    • $490,000
      689 SF

      Ithaca Commercial Building - Prime Location

      Historic Ithaca building, high visibility, versatile space.
      601 Dryden Rd, Ithaca, NY 14850
      View Details
    • $645,000
      5,392 SF

      Prime Ithaca Commercial Space

      West End gem: redevelopment potential
      413 State St, Ithaca, NY 14850
      View Details
    • $139,000
      1,250 SF

      903 Hanshaw Rd, Ithaca, NY 14850

      Commercial real estate • 1,250 SF
      903 Hanshaw Rd, Ithaca, NY 14850
      View Details
    • $220,000
      1,750 SF

      Profitable Collegetown Pizzeria

      Established Ithaca eatery, high-profit potential.
      139 Dryden Rd, Ithaca, NY 14850
      View Details
    • $1,900,000
      21,717 SF

      Collegetown Ithaca Development Opportunity

      Prime Cornell location, 35-unit potential.
      228 Dryden Rd, Ithaca, NY 14850
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      4,400 SF

      Prime Commercial Space For Lease

      4400 SF commercial space in Ithaca's North End Business District.
      15 Catherwood Rd, Ithaca, NY 14850
      View Details
    • $975 /Mo
      8,704 SF

      Downtown Ithaca Office Space Available

      Private 715 SF office suite in a creative hub.
      418 E State St, Ithaca, NY 14850
      View Details
    • Contact for pricing
      220,305 SF

      Cayuga Shopping Center: Retail Opportunity

      Prime Retail Space, Tompkins County, NY
      2301 Triphammer Rd, Ithaca, NY 14850
      View Details
    • $15 SF/Yr
      158,959 SF

      Community Shopping Center Retail Space

      Community shopping center with retail, restaurant, and office spaces.
      2255 Triphammer Rd North, Ithaca, NY 14850
      View Details
    • $15 SF/Yr
      158,959 SF

      Community Shopping Center Retail Space

      Community shopping center with retail, restaurants, services, and medical offices.
      2255 Triphammer Rd North, Ithaca, NY 14850
      View Details
    • Contact for pricing
      46,800 SF

      Ithaca Industrial Space with Cranes

      Industrial space featuring cranes, high ceilings, and multiple overhead doors.
      226 Cecil Malone Dr, Ithaca, NY 14850
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    319 Pennsylvania Ave
    Trumansburg, NY 14850
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.