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Property profile & analytics
OFF-MARKET
Estimated value
$11,655,000
Strip malls
2255 Triphammer Rd, Ithaca, NY 14850-1576
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US63-3102279
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1985
Total area
158,959 SF
Lot
11.42 ac (497,455 SF)
APN
503201 46.1-6-2.32
UPID
US63-3102279
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 Family Dental LLC Dental Office
-
Dr. Loveena Gupta, DDS Dental Office
-
Kinney Drugs Pharmacy
-
James A. Brace, LCSW Pharmacy
-
Ravi C. Desai, BS Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.66M
Owner & transaction history
Triphammer Partners LLC
Triphammer Partners LLC
since 2025
Last sale
$12.0M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$18.5M
+596.8%
Commercial (general)
$15.0M
+464.7%
Auto repair, garage
$13.5M
+408.4%
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
RESTAURANT
$18,475,000
Change: +597% · Conversion: Difficult
COMMERCIAL (GENERAL)
$14,970,000
Change: +465% · Conversion: Easy
AUTO REPAIR, GARAGE
$13,480,000
Change: +408% · Conversion: Difficult
OFFICE BUILDING
$10,885,000
Change: +310% · Conversion: Moderate
WAREHOUSE, STORAGE
$8,125,000
Change: +206% · Conversion: Difficult
Blend value · Realmo final
$11.66M
Range $10.49M – $12.82M · ±10% · vs last sale $11.98M (Jun 19 2025)
Last sale anchor
$11.98M
Jun 19 2025
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
$73 / 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
$72,922
Tax year 2019
Assessed value
$7,500,000
Assessed 2023
Previous assessed
$7,500,000
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$1,600,000
Assessed improvement
$5,900,000
Land market value
$1,600,000
Improvement market value
$5,900,000
Total market value
$7,500,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1985
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
158,959 SF
Lot
11.42 ac (497,455 SF)
APN
503201 46.1-6-2.32
UPID
US63-3102279
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
RESTAURANT
Est. value
$18.5M
COMMERCIAL (GENERAL)
Est. value
$15.0M
AUTO REPAIR, GARAGE
Est. value
$13.5M
OFFICE BUILDING
Est. value
$10.9M
WAREHOUSE, STORAGE
Est. value
$8.1M
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1985
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
11.42 ac
Current owner
From public records · entity-resolved
Triphammer Partners LLC
Entity
Mailing address
309 N TIOGA ST, ITHACA, NY 14850-4239
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Feb 10, 2026
—
Triphammer Partners LLC
—
Deed
related
$200,000 · The Canandaigua National Bank & Trust Co
Sep 19, 2025
$11,980,000
Triphammer Partners LLC
Triphammer Dev Co INC
Warranty Deed
$10,650,000 · Triphammer Dev Co INC
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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