Property profile

2432 North Triphammer Rd Ithaca, NY 14850

FOR LEASE
Office buildings
Property ID
US63-6242891
8,005 SF 0.96 ac lot Built 2006
Entity Owned 4-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 8,005-square-foot medical office building, constructed in 2006, presents a compelling investment opportunity in Ithaca, New York. The single-story Class B building sits on a 0.96-acre lot and boasts a prime location within a thriving healthcare cluster near The Shops at Ithaca Mall. Its high-visibility position at the signalized intersection of N. Triphammer Road (8,167 AADT) and Craft Road ensures significant exposure. The property offers ample parking for staff and patients, a crucial amenity in a busy medical setting. Conveniently situated, it's only 0.7 miles from Route 13, 2.5 miles from Cornell University, and 7 miles from Cayuga Medical Center. The surrounding area includes several established healthcare practices, creating a synergistic environment. The building is zoned for Commercial Low Traffic, ensuring operational efficiency. The asking price is $1,800,000, translating to $224.86 per square foot. This represents a strong value proposition for investors seeking a well-located, established medical office building in a growing market. The property's proximity to major roadways, Cornell University, and a concentration of healthcare providers makes it an ideal location for a variety of medical practices. This is a rare opportunity to acquire a turnkey medical office building in a desirable location.

Property profile

Verified
Property type Office buildings
Use group PROFESSIONAL BUILDING
Year built 2006
Total area 8,005 SF
Lot 0.96 ac (41,818 SF)
APN 503201 43.1-1-43.1
UPID US63-6242891

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
  • Physician
  • Physician
  • Physician
  • Physician
  • Physician

Location

2432 North Triphammer Rd Ithaca, NY 14850
Ithaca metro Census 600 ITHACA, NY METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.49M
Blend (final) Blend
$1.22M

Owner & transaction history

since 2022
1 recorded transaction
2022
Price N/A

Zoning & alternative use

Top alternative use upside
Commercial (general) $1.3M +7.4%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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