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20 Bomax Dr 73,825 SF Industrial Building Ithaca, NY 14850 $6,599,000 ($89.39/SF) 7.28% Cap Rate
Investment Highlights
- Fully Leased Investment Opportunity – 100% occupied by TransAct Technologies, Inc. (NASDAQ-listed tenant
- Institutional-Quality Asset – 73,825 SF purpose-built industrial facility.
- Premier Business Park Setting – Just off the entrance to Cornell Business and Technology Park.
- Long-Term Occupancy – Tenant in place since 1989, demonstrating long-term commitment and operational stability.
- Diverse Building Configuration – 18,066 SF Class A office | 48,259 SF light manufacturing | 7,500 SF high-bay warehouse.
Executive Summary
Offered for sale is a fully leased, 73,825 SF industrial facility in Ithaca, custom built for the
current tenant, TransAct Technologies, Inc., which has occupied the property since 1989.
TransAct is a publicly traded company on the NASDAQ, providing long-term tenancy and
operational stability. The property is ideally located within one of Ithaca’s strongest
industrial corridors, just off the entrance to the Cornell Business and Technology Park
and adjacent to Ithaca Tompkins International Airport. This strategic location offers
immediate access to regional and national transportation routes and is minutes from
Cornell University and Ithaca College, as well as the amenities of the Finger Lakes region.
The building features 18,066 SF of Class A office space, 48,259 SF of light manufacturing
space, and 7,500 SF of high-bay warehouse space. The facility includes four (4) elevated
loading docks, 3-phase power, full sprinkler coverage, municipal water and sewer, a
cafeteria, and a dramatic atrium with 30-foot ceiling heights. The site provides 102
parking spaces with parking on three sides of the building, along with ample area for
truck loading and circulation. This is a triple net lease expiring May 31, 2031 with
scheduled increases. 2025-2026 Annual Rent is $480,265.50. The annual rent in the final
year of the lease is $520,164.48. Providing stable and increasing income. This offering
presents a rare opportunity to acquire a purpose-built, institutional-quality industrial
asset with a long-standing public company tenant in a premier Ithaca location.
current tenant, TransAct Technologies, Inc., which has occupied the property since 1989.
TransAct is a publicly traded company on the NASDAQ, providing long-term tenancy and
operational stability. The property is ideally located within one of Ithaca’s strongest
industrial corridors, just off the entrance to the Cornell Business and Technology Park
and adjacent to Ithaca Tompkins International Airport. This strategic location offers
immediate access to regional and national transportation routes and is minutes from
Cornell University and Ithaca College, as well as the amenities of the Finger Lakes region.
The building features 18,066 SF of Class A office space, 48,259 SF of light manufacturing
space, and 7,500 SF of high-bay warehouse space. The facility includes four (4) elevated
loading docks, 3-phase power, full sprinkler coverage, municipal water and sewer, a
cafeteria, and a dramatic atrium with 30-foot ceiling heights. The site provides 102
parking spaces with parking on three sides of the building, along with ample area for
truck loading and circulation. This is a triple net lease expiring May 31, 2031 with
scheduled increases. 2025-2026 Annual Rent is $480,265.50. The annual rent in the final
year of the lease is $520,164.48. Providing stable and increasing income. This offering
presents a rare opportunity to acquire a purpose-built, institutional-quality industrial
asset with a long-standing public company tenant in a premier Ithaca location.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $6,599,000 | Rentable Building Area | 73,825 SF |
| Price Per SF | $89.39 | No. Stories | 1 |
| Sale Type | Investment NNN | Year Built | 1987 |
| Cap Rate | 7.28% | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 1.38/1,000 SF |
| Property Subtype | Manufacturing | No. Dock-High Doors/Loading | 3 |
| Building Class | B | No. Drive In / Grade-Level Doors | 1 |
| Lot Size | 7.54 AC | ||
| Zoning | Commercial | ||
| Price | $6,599,000 |
| Price Per SF | $89.39 |
| Sale Type | Investment NNN |
| Cap Rate | 7.28% |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | B |
| Lot Size | 7.54 AC |
| Rentable Building Area | 73,825 SF |
| No. Stories | 1 |
| Year Built | 1987 |
| Tenancy | Single |
| Parking Ratio | 1.38/1,000 SF |
| No. Dock-High Doors/Loading | 3 |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | Commercial |
Amenities
- Air Conditioning
Utilities
- Lighting
- Water
- Sewer
- Heating
1 1
Property Taxes
| Parcel Number | 503201-045-001-0001-051-013-0000 | Improvements Assessment | $4,746,000 |
| Land Assessment | $754,000 | Total Assessment | $5,500,000 |
Property Taxes
Parcel Number
503201-045-001-0001-051-013-0000
Land Assessment
$754,000
Improvements Assessment
$4,746,000
Total Assessment
$5,500,000
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20 Bomax Dr
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