Ithaca, NY
Commercial Real Estate Market Trends & Data

$312 Avg asking sale price
$25 Avg asking lease rate
5,170 SF Avg unit lease size
33,150 SF Avg building size for sale
7.70% Average cap rate

Ithaca's Demographic Profile

Ithaca has 10,682 households and a median income of $42,811, providing context for rent absorption and tenant demand across retail and multifamily assets. A -14% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 25,974
# Households 10,682
Median age 28
Median household income $42,811
Avg household size 2.0
Renter-occupied housing units 8,071
5-year population change -14%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Ithaca, NY

↻ Updated Monthly

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Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Ithaca $99 122,263 SF 8.00%
Dryden $87 73,825 SF 7.45%
Nearby Retail Markets Avg Cost/SF Typical Size
Ithaca $228 6,451 SF
Dryden $311 11,196 SF
Trumansburg $52 6,224 SF
Spencer $42 4,237 SF
Groton $92 8,120 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Ithaca $398 28,325 SF 7.18%
Lansing $224 2,832 SF 11.87%
Interlaken $79 7,512 SF 9.00%

Commercial Properties For Sale in Ithaca

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

20 Bomax Dr

Ithaca, NY 14850

  • 73,825 SF Industrial Building
  • 7.45% Cap Rate
  • $6,450,000
For Sale

Cornell Portfolio - 22 Units - 80 Beds

Ithaca, NY

  • 7.18% Cap Rate
  • $8,550,000
For Sale

Cornell Portfolio - 54 Units - 151 Beds

Ithaca, NY

  • 7.13% Cap Rate
  • $22,150,000
For Sale

1250 Trumansburg Rd

Ithaca, NY 14850

  • 30.11 AC Lot
  • 1 Residential Income Lot
  • $699,000
For Sale

108 S Albany St

Ithaca, NY 14850

  • 2,692 SF Office Building
  • $479,000
For Sale

632 W Seneca St

Ithaca, NY 14850

  • 3,144 SF Retail Building
  • $435,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Ithaca pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Ithaca $312 33,150 SF
Willseyville $19 5,265 SF
Dryden $147 30,980 SF
Trumansburg $52 6,224 SF

Regional Demographic Comparison

This comparison places Ithaca alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Ithaca or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Ithaca 25,974 10,682 28 $42,811 2 8,071 -14%
Freeville 365 159 44 $85,887 2 58 -13%
Dryden 1,520 605 39 $70,199 2 236 -16%
Trumansburg 1,434 658 50 $74,654 2 222 -18%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Ithaca, NY and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Ithaca

View All Commercial Real Estate For Sale in Ithaca
Is Ithaca a good market for a first-time commercial real estate investor?

Ithaca offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Ithaca?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Ithaca. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Ithaca?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Ithaca. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Ithaca compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Ithaca. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Ithaca acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Ithaca, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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