615 Five Mile Dr - Warehouse FOR SALE


Ithaca, NY 14850
$425,000 USD
607-279-8055
615 Five Mile Dr, Ithaca, NY for Sale
$425,000 USD
Warehouse - FOR SALE
1/40
null | Request Cap Rate

615 Five Mile Dr
Ithaca, NY 14850


HIGHLIGHTS

  • Featuring three versatile structures, strong operational functionality, and significant value-add potential.
  • Approximately 8,400 sq ft across an office building, clear-span warehouse, and heated garage/workshop with additional office space and attic storage.
  • The 1,524 sq ft office building includes two reception areas, three private offices, a break room, storage, and two bathrooms.
  • The 3,650 sq ft metal-frame warehouse provides a wide-open interior ideal for trades, fabrication, storage, or logistics.
  • The 3,200 sq ft garage/office hybrid offers three overhead doors, a heated shop with oil-separation system, workshop and storage areas, one bathroom
  • A rare opportunity offering operational versatility, income upside, redevelopment potential, and a commercial setting seldom available in this market

OVERVIEW

Rare multi-building commercial property in the Town of Ithaca featuring three versatile structures, strong operational functionality, and significant value-add potential. Situated on 2.00 acres with scenic creek and inlet frontage (0.47 acres under NYS permanent easements), this site offers approximately 8,400 sq ft across an office building, clear-span warehouse, and heated garage/workshop with additional office space and attic storage. The 1,524 sq ft office building includes two reception areas, three private offices, a break room, storage, and two bathrooms. The 3,650 sq ft metal-frame warehouse provides a wide-open interior ideal for trades, fabrication, storage, or logistics. The 3,200 sq ft garage/office hybrid offers three overhead doors, a heated shop with oil-separation system, workshop and storage areas, one bathroom, an office section, and attic storage above. Parking for 25+ vehicles supports contractors, service fleets, and multi-tenant operations. Current income is approximately $2,500/month only because the owner’s business occupies a substantial portion of the property; stabilized income is projected at $8,000–$10,000/month based on market rents. High demand in Ithaca for warehouse, trades bays, industrial shop space, and contractor facilities makes this a strong value-add investment. Located adjacent to the new Amabel residential development within an active growth corridor, with convenient access to downtown Ithaca, Cornell, and major routes. A rare opportunity offering operational versatility, income upside, redevelopment potential, and a commercial setting seldom available in this market.

FOR SALE DETAILS

PRICE

$425,000 USD

PRICE/SF

$51 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1975

UTILITIES

Gas - Natural, Water - City, Sewer - Septic Field, Heating - Electric

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

4

PARKING SPACES

30

LAND DETAILS

LAND ACRES

2

LAND SF

87,120

ZONING

Commercial

APN/PARCEL ID

503089-031-000-0002-030-000-0000

ASK ABOUT THIS PROPERTY

Richard PattersonHoward HannaMore Info
607-279-8055

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Richard PattersonHoward HannaMore Info
607-279-8055

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.