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Property profile & analytics
OFF-MARKET Estimated value $1,760,000
Office buildings

531 Esty St Ithaca, NY 14850-3250

15,600 SF 0.34 ac lot Built 1900
Entity Owned Free & Clear
Property ID
US63-0431045
Property summary
AI-generated overview

This exceptional three-story, 15,000 square foot building in Ithaca, NY, presents a unique investment opportunity. Built in 1900 and renovated in 2003, this solid brick structure features post and beam construction, high ceilings, exposed brick, and a stunning glass atrium with elevator service. The flexible floor plan includes spacious conference rooms, numerous offices, a lounge, and kitchen areas, catering to diverse business needs. A key feature is a high-tech Sensitive Compartmented Information Facility (SCIF), ideal for businesses handling classified information. Located at a high-visibility corner on Esty Street, the property enjoys over 36,000 cars passing daily on Route 13 South, with easy access to both Route 13 North and South. Ample parking is provided with an 18-space lot. Situated in the WEDZ-1A Business District and Opportunity Zone, this property offers significant business incentives. The thriving Ithaca West End neighborhood boasts proximity to Ithaca Bakery, Greenstar, Purity Ice Cream, the Ithaca Farmers Market, Cayuga Medical, Cayuga Inlet, City Harbor, and offers picturesque views of Cayuga Lake and Cornell University. The asking price is $2,400,000 ($160/sq ft). The property is currently zoned for Hotel, Medical Office, and Restaurant uses, and the lease expires October 31, 2024. This is more than just a building

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1900
Total area 15,600 SF
Lot 0.34 ac (14,810 SF)
Zoning code WEDZ-1A
APN 500700 52.-3-14
UPID US63-0431045
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
  • Grammatech Inc (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.80M
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.37M
Blend (final) Blend
$1.76M
Owner & transaction history
Vial LLC
Vial LLC
since 2026
Last sale
$1.7M
3 recorded transactions
2026
$2.3M
2023
$1.7M
2011
$1.3M
Zoning & alternative use
WEDZ-1A · 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, funeral home or mortuary, business or professional office, retail store or service commercial facility, club, lodge or private social center, gasoline station, parking garages, parking lot, recreational or cultural f…

Zone name West End Zone
General category COMMERCIAL
Zone area 35.64 ac
Source Realmo
Top alternative use upside
Commercial (general) $2.5M +7.4%
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