Active
511-13 Cayuga Street North
Ithaca - City NY, 14850
$1,950,000
$231.26 per sqft
Active
8,432 sqft
Commercial
Built in 1963
Important 8000+ sq. ft. two story commercial building in the heart of Fall Creek. Over 4000 sq.ft. on the main level, which has housed a neighborhood pharmacy since its construction in 1963. Kinneys' lease expires in July 31, 2025; it has requested to extend an additional 3 years, but nothing is yet signed. Kinneys pays 50% of property taxes, 50% of water & sewer bills & property insurance, & some snow removal. Upstairs are 4 one bedroom apts, each legal for 2 unrelated + a shared laundry. Rent includes water & sewer & a/c. Tenants pay gas & elec. B2a zoning permits 4 story construction up to a height of 40 ft & allowable uses (w/required permits) are hotels, retail, & restaurants. 11 parking spaces & loading area on site. <50% of parcel is developed; great potential for redevelopment. Income $10,805/mo includes rent from Kinneys of $6180/month.1 longterm apt tenant pays discounted rent. Carlisle TPO (thermoplasticpolyolefin) membrane roof installed in 2012. Sprinklered hallway to apts connected to Fire Dept.
R1536638
MLSⓇ ID
May 7, 2024
Listed
September 17, 2024
Updated
Map
511-13 Cayuga Street North
Ithaca - City NY, 14850
Interior Features
Total Stories
2
Floor Description
Linoleum, Vinyl
Fireplace
No
Cooling
Yes
Cooling Description
Separate Meters, Central Air
Heating
Yes
Heating Description
Gas, Separate Meters, Forced Air
Exterior/Building Features
Lot Size
0.27 Acres
Lot Features
Rectangular
Roof
Membrane, Other, Rubber, See Remarks
Sewer
Public Sewer
School Information
School District
Ithaca
High School
Ithaca Senior High
Elementary School
Fall Creek Elementary
Other Property Details
Area Name
Ithaca-City-500700
Taxes
$30,168
Tax Frequency
Annually
Days on Market
71
Garage
No
Parking
Common, On Site, Surfaced
Parking Total
11
View
No
County
Tompkins
Municipality
Not Applicable
Water Source
Public
Pool
No
Zoning
B2a
Courtesy of Warren Real Estate of Ithaca Inc., Carol Bushberg
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Data last updated 10:31 AM UTC, 9/17/2024