615 Five Mile Drive, Ithaca, NY 14850
sale
$425,000
|
Other
Courtesy Of RealtyUSA.com
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.
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Property Features
- Age: 41-50 Years Old
- Amenities: Water Front
- Floor Covering: Vinyl
- Floor Covering: Linoleum
- Floor Covering: Concrete
- Floors: 1
- Heating System: Baseboard
- Heating System: Electric (Heating)
- Heating System: Oil
- MLSID: R1653936
- Parking Spaces: 25
- Roof Type: Metal
- Roof Type: Shingle
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