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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Office buildings
301 State St Ithaca, NY 14850-5431
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-6216925
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1985
Total area
3,185 SF
Lot
0.11 ac (4,800 SF)
Zoning code
B-2C
APN
500700 71.-5-10
UPID
US63-6216925
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
-
Ann Wang, PhD, L.Ac. Alternative Medicine Practice Acupuncture
-
Ithaca Ale House Bar & Pub Restaurant
-
Collegetown Bagels (Bike/Boat/Book/etc) Store Bakery
-
Christopher Keller Alternative Medicine Practice Spa & Massage Center
-
Daniel Kraak Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$535k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$385k
Blend (final)
Blend
$510k
Owner & transaction history
Rhodes House Ithaca LLC · 3 yrs held
Rhodes House Ithaca LLC
since 2023
Last sale
$500,000
2 recorded transactions
Zoning & alternative use
B-2C · Ithaca, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$505,000
+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
$505,000
ML approach
$535,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$470,000
Current use
COMMERCIAL (GENERAL)
$505,000
Change: +7% · Conversion: Easy
Blend value · Realmo final
$510k
Range $459k – $561k · ±10% · vs last sale $500k (Feb 17 2023)
Last sale anchor
$500k
Feb 17 2023
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
$160 / 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 2023Property tax & assessments
Tax year 2023
Assessed value
$325,000
Assessed 2023
Previous assessed
$325,000
+0.0% YoY
Assessed land
$55,000
Assessed improvement
$270,000
Land market value
$55,000
Improvement market value
$270,000
Total market value
$325,000
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
Off-Market
Year built
1985
Heating
NONE
Buildings
1
Stories
3
Total area
3,185 SF
Lot
0.11 ac (4,800 SF)
Zoning code
B-2C
APN
500700 71.-5-10
UPID
US63-6216925
Jurisdiction
TOMPKINS
Zoning & alternative use
B-2C · Ithaca, NYZoning B-2C · permitted uses
B-2C · Ithaca, NY
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
$470,000
COMMERCIAL (GENERAL)
Est. value
$505,000
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
1985
Heating
NONE
Stories
3
Buildings
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Rhodes House Ithaca LLC
Entity
Mailing address
1921 SLATERVILLE RD, ITHACA, NY 14850-6362
Ownership since
2023
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 17, 2023
$500,000
Rhodes House Ithaca LLC
State St Of Ithaca LLC
Warranty Deed
$430,000 · State St Of Ithaca Ll
Apr 27, 2006
—
State Street Of Ithaca LLC
Wang,yuyan
Warranty 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.
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