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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Warehouses
35 Royal Rd Ithaca, NY 14850
Entity Owned
10-yr Hold
Free & Clear
Property ID
US63-1880359
Property profile
Verified
Property type
Warehouses
Use group
BULK STORAGE, TANKS
Year built
1988
Total area
4,000 SF
Lot
11.85 ac (516,186 SF)
APN
502489 43.-1-33.121
UPID
US63-1880359
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
-
Secure Self Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$475k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$526k
Blend (final)
Blend
$500k
Owner & transaction history
Ithaca Storage 18 Ny LLC · 10 yrs held
Ithaca Storage 18 Ny LLC
since 2015
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$375,000
+12.5%
Auto repair, garage
$340,000
+1.3%
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
$475,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WASTE DISPOSAL, SEWAGE (PROCESSING, DISPOSAL, STORAGE, TREATMENT)
$335,000
Current use
COMMERCIAL (GENERAL)
$375,000
Change: +13% · Conversion: Difficult
AUTO REPAIR, GARAGE
$340,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$500k
Range $450k – $550k · ±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
$125 / 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
$38,975
Tax year 2019
Assessed value
$3,500,000
Assessed 2023
Previous assessed
$3,500,000
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$600,000
Assessed improvement
$2,900,000
Land market value
$600,000
Improvement market value
$2,900,000
Total market value
$3,500,000
Applied tax rate
502,401.0000
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
Warehouses
Use group
BULK STORAGE, TANKS
Status
Off-Market
Year built
1988
Heating
NONE
Buildings
7
Stories
1
Total area
4,000 SF
Lot
11.85 ac (516,186 SF)
APN
502489 43.-1-33.121
UPID
US63-1880359
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
WASTE DISPOSAL, SEWAGE (PROCESSING, DISPOSAL, STORAGE, TREATMENT) Current
Est. value
$335,000
COMMERCIAL (GENERAL)
Est. value
$375,000
AUTO REPAIR, GARAGE
Est. value
$340,000
WASTE DISPOSAL, SEWAGE (PROCESSING, DISPOSAL, STORAGE, TREATMENT) Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1988
Heating
NONE
Stories
1
Buildings
7
Lot
11.85 ac
Current owner
From public records · entity-resolved
Ithaca Storage 18 Ny LLC
Entity
Free & Clear · 10 yrs held
Mailing address
50 ROCKEFELLER PLZ, NEW YORK, NY 10020-1605
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 25, 2025
—
Ithaca Storage 18
—
Deed
related
$7,687,500 · Barclays Bank Delaware
Oct 9, 2015
$3,525,000
Ithaca Storage 18 Ny LLC
Veritas Group V LLC
Grant Deed
—
Sep 15, 2005
$3,625,000
Veritas Group V LLC
Cayuga Partners
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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