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146-148 E State St 3,660 SF 100% Leased Retail Building Ithaca, NY 14850 $1,528,670 CAD ($417.67 CAD/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
$1,528,670 CAD
Price Per SF
$417.67 CAD
Cap Rate
7%
NOI
$107,007 CAD
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
Exceptionally walkable
90/100
Moderately drivable
60/100
Some public transit
50/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 500700-070-000-0002-020-000-0000 | Improvements Assessment | $515,309 CAD |
| Land Assessment | $211,942 CAD | Total Assessment | $727,251 CAD |
Property Taxes
Parcel Number
500700-070-000-0002-020-000-0000
Land Assessment
$211,942 CAD
Improvements Assessment
$515,309 CAD
Total Assessment
$727,251 CAD
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146-148 E State St
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