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Property profile & analytics
FOR SALE
Office buildings
2 Ascot Pl, Ithaca, NY 14850
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US63-2973970
For Sale
1 / 26
$1,950,000
2 Ascot Pl, Ithaca, NY 14850
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Property summary
AI-generated overview
This exceptional 4,137 square foot office building, located at 2 Ascot Pl in Ithaca, New York, presents a fantastic opportunity for a single tenant. Currently, 2,900 square feet of move-in ready space is available in this executive/medical office building situated in Tompkins County's suburban northeast. The existing build-out is comprehensive, featuring a dedicated office entry, a reception/waiting area, administrative workspaces, a large doctor's office, multiple exam rooms equipped with sinks, restrooms, a break room, an IT closet, and substantial storage or flexible space. The property boasts ample on-site parking, a significant advantage for both staff and clients. Its convenient location offers easy access to a variety of amenities, including nearby restaurants, banks, and grocery stores. This property is ideally suited for medical practices, healthcare services, or other professional office uses. The building's single-tenant occupancy ensures privacy and control, making it an attractive option for businesses seeking a well-appointed and functional workspace in a desirable Ithaca location. The zip code is 14850.
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1995
Total area
4,137 SF
Lot
2.17 ac (94,525 SF)
APN
503201 45.2-1-46.19
UPID
US63-2973970
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Cayuga Ent Head & Neck Surgery Medical Clinic Physician
-
Dr. Jonathan E. Cryer, MD Physician
-
ASHU RUPARELIA, M.D. Physician
-
Rachel Ayers Physician
-
PMA Audibel Hearing Center Hearing Aid Store Hearing Aid Repair Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$773k
Blend (final)
Blend
$635k
Owner & transaction history
2 Ascot Place LLC · 6 yrs held
2 Ascot Place LLC
since 2020
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$660,000
+7.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Ithaca submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ithaca submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$615,000
Current use
COMMERCIAL (GENERAL)
$660,000
Change: +7% · Conversion: Easy
Blend value · Realmo final
$635k
Range $572k – $699k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$153 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2019Property tax & assessments
Tax year 2019
Tax billed
$6,769
Tax year 2019
Assessed value
$750,000
Assessed 2023
Previous assessed
$750,000
+0.0% YoY
Effective rate
0.90%
On assessed value
Assessed land
$98,000
Assessed improvement
$652,000
Land market value
$98,000
Improvement market value
$652,000
Total market value
$750,000
Applied tax rate
500,700.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Sale
Year built
1995
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
4,137 SF
Lot
2.17 ac (94,525 SF)
APN
503201 45.2-1-46.19
UPID
US63-2973970
Jurisdiction
TOMPKINS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$615,000
COMMERCIAL (GENERAL)
Est. value
$660,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1995
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
2.17 ac
Current owner
From public records · entity-resolved
2 Ascot Place LLC
Entity
Mailing address
2 ASCOT PL, ITHACA, NY 14850-1072
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 27, 2020
—
2 Ascot Place LLC
—
Deed
related
$680,535 · Tompkins Tr Co
—
—
2 Ascot Place LLC
—
Deed Of Trust
related
$680,535 · Tompkins Tr Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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