508 W State St - Restaurant FOR SALE


Ithaca, NY 14850
$385,000 USD
607-351-6155
508 W State St, Ithaca, NY for Sale
$385,000 USD
Restaurant - FOR SALE
1/13
null | 7.34% Cap Rate

508 W State St
Ithaca, NY 14850


HIGHLIGHTS

  • Heavy foot traffic, near Rt. 13N, perfect for redevelopment.
  • Convenient, centralized corner location Central Business District, Zoned B-2C

OVERVIEW

Five year NNN lease in place. Great opportunity to own a commercial building in the heart of Ithaca. Located two doors down from Ironworks Ithaca, a housing and retail development project that is now at the corner of Corn St. and State St. GIMMEE Coffee, Saigon Kitchen, Maru Ramen, Kitchen Theatre, The Rook, Liquid State, and the State Diner are your neighbors. This area of town is booming! Great investment opportunity. Large open floor plan, storage, office, 2 bathrooms. Updated heating and air conditioning, updated 200 AMP electrical service, plumbing, floors. High traffic count right off Route 13 North. Many future possibilities...Zoned B-2C with the ability to go 4 stories. Rent increases 2.5% each year. Call for details. Laura 607-351-6155 Ready to go! (Pictures are from the last tenant, Franco's Pizzeria, currently vacant.)

FOR SALE DETAILS

PRICE

$385,000 USD

PRICE/SF

$255 USD /SF

CAP RATE

7.34%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Bar, Medical, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1975

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,178 SF

ZONING

B-2C

APN/PARCEL ID

500700-072-000-0003-017-000-0000

ASK ABOUT THIS PROPERTY

Laura FioreWarren Real Estate of IthacaMore Info
607-351-6155

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Laura FioreWarren Real Estate of IthacaMore Info
607-351-6155

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