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Property profile & analytics
OFF-MARKET
Office buildings
405 Tioga St Ithaca, NY 14850-4228
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US63-1657675
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1975
Total area
1,568 SF
Lot
0.11 ac (4,864 SF)
Zoning code
C-SU
APN
500700 49.-4-9
UPID
US63-1657675
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
-
Tavelli Paul Law Firm
-
Urda & Urda, LLP Law Firm
-
Mc Dermott Wesley E Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Narrative Spc Ny LLC · 1 yrs held
Narrative Spc Ny LLC
since 2024
Last sale
$292,500
6 recorded transactions
Zoning & alternative use
C-SU · Ithaca, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this zoning district is to provide one family detached dwelling, two family dwelling, multi family, church and related building, professional offices of architect, engineer, lawyer, realtor, accountant.
Zone name
Court House Special Use
General category
RESIDENTIAL
Zone area
2.58 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$185,000
Assessed 2023
Previous assessed
$185,000
+0.0% YoY
Assessed land
$45,000
Assessed improvement
$140,000
Land market value
$45,000
Improvement market value
$140,000
Total market value
$185,000
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
1975
Heating
NONE
Buildings
1
Stories
2
Total area
1,568 SF
Lot
0.11 ac (4,864 SF)
Zoning code
C-SU
APN
500700 49.-4-9
UPID
US63-1657675
Jurisdiction
TOMPKINS
Zoning & alternative use
C-SU · Ithaca, NYZoning C-SU · permitted uses
C-SU · Ithaca, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this zoning district is to provide one family detached dwelling, two family dwelling, multi family, church and related building, professional offices of architect, engineer, lawyer, realtor, accountant.
Zone name
Court House Special Use
General category
RESIDENTIAL
Zone area
2.58 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1975
Heating
NONE
Stories
2
Buildings
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Narrative Spc Ny LLC
Entity
Mailing address
2343 N TRIPHAMMER RD, ITHACA, NY 14850-1092
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2024
$292,500
Narrative Spc Ny LLC
Lama Brothers LLC
Warranty Deed
$228,000 · Cfcu Community Cu
Dec 10, 2020
—
Lama Brothers LLC
—
Deed
related
$44,318 · Tompkins Tr Co
Dec 30, 2016
$150,000
Lama Brothers LLC
Tavelli,connie
Grant Deed
—
Nov 2, 2012
$54,000
Connie Tavelli
Seldin,amy
Quit Claim Deed
related
—
Feb 25, 2004
—
Connie Tavelli
Tavelli,paul N
Quit Claim Deed
related
—
—
—
Lama Brothers LLC
—
Deed Of Trust
related
$44,318 · Tompkins Tr Co
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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