Investment properties
Entity Owned
23-yr Hold
Absentee Owner
Free & Clear
Entity Owned 
For Sale
$2,150,000
120 State St, Ithaca, NY 14850-5596
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Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1975
Total area
10,543 SF
Lot
0.15 ac (6,534 SF)
Zoning code
CBD-60
APN
500700 70.-2-29
UPID
US63-0459211
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
Tattoo & Piercing Shop
-
Charitable Organization
-
Medical Clinic Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.15M
Blend (final)
Blend
$345k
Owner & transaction history
Zoning & alternative use
CBD-60 · Ithaca, NY
Zoning description
The purpose of this zoning district is to provide one family detached dwelling, two family dwelling, multi family, church and related building, funeral home or mortuary, business or professional office, retail store or s…
General category
COMMERCIAL
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 4 comparables with addresses
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$345k
Value range
$311k – $380k
±10% around blend
Estimated value / SF
$33 / SF
Confidence
Low
4 county-verified comps
Property data
75
Market benchmarks
100
Comparable evidence
40
Income certainty
100
$311k
blend $345k
$380k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
10,543 SF
Lot area
0.15 ac
Year built
1975
Stories
4
APN
500700 70.-2-29
Assessed value
$675,000
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.08M
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
0.6 mi away · 8,424 SF
0.7 mi away · 12,313 SF
18.4 mi away · 13,050 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$345k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 73 sales
$159
-79%
Submarket 78 sales
$158
-79%
County 112 sales
$133
-75%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $33/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
Not available
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 4 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
8.31%
Selected cap rate for this investment properties
Derived from the Ithaca market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 8.31%
9.0%
NOI (est.)
$179k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.15M
Move the market yield to see immediate price impact.
Value / SF
$204
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
7.81%8.31%8.81%
$161k
$2.06M
$1.94M
$1.83M
$179k
$2.29M
$2.15M
$2.03M
$197k
$2.52M
$2.37M
$2.23M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$400k
0.2 mi · Nov 2025 · $46/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$675,000
Assessed 2023
Previous assessed
$675,000
+0.0% YoY
Assessed land
$185,000
Assessed improvement
$490,000
Land market value
$185,000
Improvement market value
$490,000
Total market value
$675,000
Applied tax rate
500,700.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Sale
Year built
1975
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
4
Total area
10,543 SF
Lot
0.15 ac (6,534 SF)
Zoning code
CBD-60
APN
500700 70.-2-29
UPID
US63-0459211
Jurisdiction
TOMPKINS
Zoning & alternative use
CBD-60 · Ithaca, NYZoning CBD-60 · permitted uses
CBD-60 · Ithaca, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The purpose of this zoning district is to provide one family detached dwelling, two family dwelling, multi family, church and related building, funeral home or mortuary, business or professional office, retail store or s…
General category
COMMERCIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1975
Heating
NONE
Cooling
Yes
Stories
4
Buildings
1
Lot
0.15 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
CBD-60
COMMERCIAL
Jurisdiction
Ithaca, NY
Recorded code
CBD-60
Official district
CBD-60
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CBD-60 in Ithaca, NY.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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