Log In/Sign Up
Your email has been sent.
146-148 E State St 3,660 SF 100% Leased Retail Building Ithaca, NY 14850 $1,100,000 ($300.55/SF) 7% Cap Rate
Investment Highlights
- Prime location within the iconic Ithaca Commons pedestrian district.
- Approved residential conversion offering value-add upside.
- Separate utilities for streamlined management
- Fully occupied income stream supported by stable tenants.
- Recently updated building systems and well-maintained structure.
- Strong downtown housing demand reinforcing long-term stability.
Executive Summary
Located in the heart of the Ithaca Commons, 146–148 East State Street presents a rare opportunity to acquire a fully occupied, mixed-use asset within one of Upstate New York’s most celebrated pedestrian destinations. Positioned along a vibrant corridor known for restaurants, boutique retailers, cultural events, and year-round foot traffic, the property offers immediate income stability combined with meaningful long-term upside. The building features a highly efficient layout supporting retail, residential, and office uses, appealing to investors seeking diversified revenue streams in a supply-constrained downtown market.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,660 SF
Building Class
C
Year Built
1950
Price
$1,100,000
Price Per SF
$300.55
Cap Rate
7%
NOI
$77,000
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.68
Lot Size
0.05 AC
Zoning
CBD-60 - 6 Story Max Buildable by right.
Frontage
33’ on East State Street
Walk Score®
Walker's Paradise (96)
Bike Score®
Very Bikeable (71)
Nearby Major Retailers
Property Taxes
| Parcel Number | 500700-070-000-0002-020-000-0000 | Improvements Assessment | $372,000 |
| Land Assessment | $153,000 | Total Assessment | $525,000 |
Property Taxes
Parcel Number
500700-070-000-0002-020-000-0000
Land Assessment
$153,000
Improvements Assessment
$372,000
Total Assessment
$525,000
1 of 58
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
CNY Broker
146-148 E State St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.