511-513 North Cayuga Street

Active

511-513 North Cayuga Street

Ithaca - City NY, 14850

$1,700,000

$201.61 per sqft

Active

8,432 sqft

Commercial

Built in 1930

This 8,432-square-foot property in the heart of downtown Ithaca presents a rare opportunity to acquire a mixed-use site with reliable income and extensive redevelopment potential. The first floor of the building is home to a well-established neighborhood pharmacy. The second floor houses 4 one-bedroom apartments, all currently occupied providing steady income. The property also features an 11-car parking lot. The current commercial & residential tenants offer immediate cash flow, while the B-2a zoning provides the freedom to reimagine the space into apartments, a hotel, a daycare center, or a mixed-use development of up to 4 stories in height. An ideal asset for investors and developers looking to expand into one of Upstate, NY's fastest growing markets. Ithaca's urban core, known for its diverse dining, retail, cultural attractions, and proximity to Cornell University and Ithaca College, attracts residents, tourists, and students alike.

R1578197

MLSⓇ ID

November 18, 2024

Listed

November 22, 2024

Updated

Map

511-513 North Cayuga Street
Ithaca - City NY, 14850

Interior Features

Total Stories: 2
Floor Description: Linoleum, Vinyl
Fireplace: No
Cooling: Yes
Cooling Description: Central Air
Heating: Yes
Heating Description: Gas, Forced Air

Exterior/Building Features

Lot Size: 0.27 Acres
Lot Features: Rectangular
Roof: Membrane, Rubber
Sewer: Public Sewer

School Information

School District: Ithaca
Elementary School: Fall Creek Elementary

Other Property Details

Area Name: Ithaca-City-500700
Taxes: $28,883
Tax Frequency: Annually
Garage: No
Parking: On Site, Surfaced
Parking Total: 11
View: No
County: Tompkins
Municipality: Not Applicable
Water Source: Public
Pool: No
Zoning: B2a

Courtesy of Howard Hanna S Tier Inc, Kyle Steele

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Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the listing broker(s), Johan Dulfer, nor Luxury Presence shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.

Data last updated 6:15 PM UTC, 11/22/2024