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Property profile & analytics
OFF-MARKET
Estimated value
$645,000
Investment properties
308 Seneca St Ithaca, NY 14850-4339
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-3282154
Property summary
AI-generated overview
This exceptional 1100-square-foot retail space, located at 308 E. Seneca St., offers a fantastic opportunity in the heart of Ithaca's vibrant downtown. Situated just off the bustling Ithaca Commons, at the bottom of E. Seneca Street, this single-tenant property boasts high visibility and excellent signage potential. Convenient on-street parking is readily available directly in front of the building, ensuring easy access for customers. Ideal for a restaurant, café, or retail shop, the space is equipped with ventilation and a grease trap, catering to food service businesses. While currently disconnected, the existing hood system can be easily reconnected to meet operational needs. The lease is a full-gross lease, with utilities the responsibility of the tenant. The property is zoned CBD-60, reflecting its prime location within the Ithaca Commons submarket. This space presents an immediate opportunity to establish a thriving business within a dynamic and thriving community. Don't miss this chance to secure a prominent location in Ithaca's bustling downtown area. Available immediately.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1910
Total area
3,192 SF
Lot
0.04 ac (1,957 SF)
Zoning code
CBD-60
APN
500700 62.-5-14
UPID
US63-3282154
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
-
Your CBD Store - Ithaca, NY Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$650k
CAP Approach
CAP
$510k
Comparable Approach
Comparable
$537k
Blend (final)
Blend
$645k
Owner & transaction history
East Seneca Flats LLC · 3 yrs held
East Seneca Flats LLC
since 2022
Last sale
$650,000
4 recorded transactions
Zoning & alternative use
CBD-60 · Ithaca, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$625,000
ML approach
$650,000
CAP Approach
CAP Return
Estimation
6%
$550,000
6.5%
$510,000
7%
$470,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$510,000
Current use
OFFICE BUILDING
$475,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$645k
Range $581k – $710k · ±10% · vs last sale $650k (Nov 2 2022)
Last sale anchor
$650k
Nov 2 2022
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
$202 / 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
$315,000
Assessed 2023
Previous assessed
$315,000
+0.0% YoY
Assessed land
$50,000
Assessed improvement
$265,000
Land market value
$50,000
Improvement market value
$265,000
Total market value
$315,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1910
Heating
NONE
Buildings
1
Stories
3
Total area
3,192 SF
Lot
0.04 ac (1,957 SF)
Zoning code
CBD-60
APN
500700 62.-5-14
UPID
US63-3282154
Jurisdiction
TOMPKINS
Zoning & alternative use
CBD-60 · Ithaca, NY
Zoning CBD-60 · permitted uses
CBD-60 · Ithaca, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ithaca. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$510,000
OFFICE BUILDING
Est. value
$475,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
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
1910
Heating
NONE
Stories
3
Buildings
1
Lot
0.04 ac
Current owner
From public records · entity-resolved
East Seneca Flats LLC
Entity
Mailing address
200 E BUFFALO ST STE #201, ITHACA, NY 14850-4232
Ownership since
2022
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
Nov 2, 2022
$650,000
East Seneca Flats LLC
Bridge Coast Ent LLC
Warranty Deed
$350,000 · Tompkins Community Bank
Nov 23, 2010
$225,000
Bridge Coast Ents
308 E Seneca Street Ll
Grant Deed
related
—
May 10, 2004
$170,000
308 East Seneca Street LLC
Pelmo,tenzin
Warranty Deed
—
May 10, 2004
—
Tenzin Pelmo
Jayne,alfred W
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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