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Property profile & analytics
OFF-MARKET
Estimated value
$1,055,000
Office buildings
2359 Triphammer Rd Ithaca, NY 14850-1059
Entity Owned
7-yr Hold
Free & Clear
Property ID
US63-0417903
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1992
Total area
8,700 SF
Lot
0.81 ac (35,284 SF)
APN
503201 47.1-3-1
UPID
US63-0417903
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
-
Nationwide Insurance: Anthony W Burchell Insurance Agency
-
Tornado Spectral Systems Corporate Office
-
Back-2-Balance Massage Therapy Alternative Medicine Practice Spa & Massage Center
-
Jessie Shannon, Integrative Therapeutic Massage Therapy, PLLC Alternative Medicine Practice Spa & Massage Center
-
McCune, Murphy, & Potter Physical Therapy, PC Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.07M
Blend (final)
Blend
$1.06M
Owner & transaction history
Triphammer Holdings LLC · 7 yrs held
Triphammer Holdings LLC
since 2019
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+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
$1,290,000
Current use
COMMERCIAL (GENERAL)
$1,385,000
Change: +7% · Conversion: Easy
Blend value · Realmo final
$1.06M
Range $950k – $1.16M · ±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
$121 / 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
$8,174
Tax year 2019
Assessed value
$900,000
Assessed 2023
Previous assessed
$900,000
+0.0% YoY
Effective rate
0.91%
On assessed value
Assessed land
$150,000
Assessed improvement
$750,000
Land market value
$150,000
Improvement market value
$750,000
Total market value
$900,000
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
OFFICE BUILDING
Status
Off-Market
Year built
1992
Heating
NONE
Buildings
1
Stories
1
Total area
8,700 SF
Lot
0.81 ac (35,284 SF)
APN
503201 47.1-3-1
UPID
US63-0417903
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
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.4M
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
1992
Heating
NONE
Stories
1
Buildings
1
Lot
0.81 ac
Current owner
From public records · entity-resolved
Triphammer Holdings LLC
Entity
Free & Clear · 7 yrs held
Mailing address
2359 N TRIPHAMMER RD, ITHACA, NY 14850-1059
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 21, 2019
—
Triphammer Holdings LLC
Wattoo,muhammad A
Grant Deed
related
—
Feb 27, 2019
—
Muhammad A Wattoo
Ahmad,amina
Grant Deed
related
—
Sep 8, 2015
$925,000
Muhammad A Wattoo
Sciarabba,andrew
Grant Deed
—
Sep 8, 2015
—
Andrew Sciarabba
Sciarabba,andrew
Quit Claim Deed
related
—
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.
Try Rey
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