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Property profile & analytics
OFF-MARKET
Estimated value
$2,160,000
Strip malls
614 Mdw St, Ithaca, NY 14850-5381
Entity Owned
4-yr Hold
Free & Clear
Property ID
US63-0430009
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2002
Total area
58,296 SF
Lot
5.39 ac (234,788 SF)
Zoning code
SW-2
APN
500700 102.-1-2.3
UPID
US63-0430009
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
-
Orangetheory Fitness Gym & Fitness Center
-
Barnes & Noble (Bike/Boat/Book/etc) Store
-
HomeGoods Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.12M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.16M
Owner & transaction history
Joe Armideo Clay Comm LLC · 4 yrs held
Joe Armideo Clay Comm LLC
since 2022
Last sale
$2.2M
5 recorded transactions
Zoning & alternative use
SW-2 · Ithaca, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$3.0M
+206.4%
Retail stores
$2.4M
+142.5%
Industrial (general)
$1.8M
+81.7%
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
$2,130,000
ML approach
$2,115,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,980,000
Change: +206% · Conversion: Difficult
RETAIL STORES
$2,360,000
Change: +143% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,765,000
Change: +82% · Conversion: Difficult
Blend value · Realmo final
$2.16M
Range $1.94M – $2.38M · ±10% · vs last sale $2.20M (May 11 2022)
Last sale anchor
$2.20M
May 11 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
$37 / 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
$3,500,000
Assessed 2023
Previous assessed
$3,500,000
+0.0% YoY
Assessed land
$1,285,000
Assessed improvement
$2,215,000
Land market value
$1,285,000
Improvement market value
$2,215,000
Total market value
$3,500,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2002
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
58,296 SF
Lot
5.39 ac (234,788 SF)
Zoning code
SW-2
APN
500700 102.-1-2.3
UPID
US63-0430009
Jurisdiction
TOMPKINS
Zoning & alternative use
SW-2 · Ithaca, NY
Zoning SW-2 · permitted uses
SW-2 · 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
WAREHOUSE, STORAGE
Est. value
$3.0M
RETAIL STORES
Est. value
$2.4M
INDUSTRIAL (GENERAL)
Est. value
$1.8M
WAREHOUSE, STORAGE
RETAIL STORES
INDUSTRIAL (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
2002
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
5.39 ac
Current owner
From public records · entity-resolved
Joe Armideo Clay Comm LLC
Entity
Free & Clear · 4 yrs held
Mailing address
565 TAXTER RD, ELMSFORD, NY 10523-2300
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2024
—
Rof Ta Ithaca LLC
—
Deed
related
$15,762,500 · First Commonwealth Bank
Apr 18, 2023
—
G & I Ix Empire Tops Plz
—
Deed
related
$9,246,943 · Manufacturers & Traders Trust Co
May 11, 2022
$2,200,000
Joe Armideo Clay Comm LLC
G&i 9 Empire Jv Dlc LLC
Deed
—
Dec 26, 2019
—
G & I Empire Tops Plaza Ithaca
—
Deed
related
$15,290,457 · Manufacturers & Traders Tr
—
—
G & I Empire Tops Plaza Ithaca
—
Deed Of Trust
related
$15,290,457 · Manufacturers & Traders Tr
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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