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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Office buildings
421 Aurora St Ithaca, NY 14850-4214
Entity Owned
15-yr Hold
Free & Clear
Property ID
US63-1023854
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1975
Total area
3,816 SF
Lot
0.17 ac (7,370 SF)
Zoning code
R-2B
APN
500700 49.-5-11
UPID
US63-1023854
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
-
Data Performance (Bike/Boat/Book/etc) Store Corporate Office
-
Carol Bushberg Real Estate Real Estate Agency
-
Cascadilla Commons Real Estate Agency
-
Clarity Corporate Growth Consultant
-
FLX Business Services Accounting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$449k
Blend (final)
Blend
$540k
Owner & transaction history
Cascadilla Commons LLC · 15 yrs held
Cascadilla Commons LLC
since 2010
Last sale
$660,000
2 recorded transactions
Zoning & alternative use
R-2B · 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, church and related building.
Zone name
Two Family Residential
General category
RESIDENTIAL
Zone area
339.60 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$610,000
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$565,000
Current use
COMMERCIAL (GENERAL)
$610,000
Change: +7% · Conversion: Easy
Blend value · Realmo final
$540k
Range $486k – $594k · ±10% · vs last sale $660k (Jun 5 2024)
Last sale anchor
$660k
Jun 5 2024
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
$142 / 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
$60,000
Assessed improvement
$255,000
Land market value
$60,000
Improvement market value
$255,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1975
Heating
NONE
Buildings
1
Stories
2
Total area
3,816 SF
Lot
0.17 ac (7,370 SF)
Zoning code
R-2B
APN
500700 49.-5-11
UPID
US63-1023854
Jurisdiction
TOMPKINS
Zoning & alternative use
R-2B · Ithaca, NYZoning R-2B · permitted uses
R-2B · 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, church and related building.
Zone name
Two Family Residential
General category
RESIDENTIAL
Zone area
339.60 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$565,000
COMMERCIAL (GENERAL)
Est. value
$610,000
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
1975
Heating
NONE
Stories
2
Buildings
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Cascadilla Commons LLC
Entity
Free & Clear · 15 yrs held
Mailing address
421 N AURORA ST, ITHACA, NY 14850-4214
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
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
Nov 19, 2010
$256,000
Cascadilla Commons LLC
Eek Myer LLC
Grant Deed
related
—
Jun 25, 2009
$356,486
Eek Myer LLC
Keystone America INC
Grant Deed
—
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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