Prime Ithaca Commercial Corner
1201-15 N Tioga Street, Ithaca, NY 14850
- Added:
- Jan 7, 2026
- Days on Market:
- 146
- Last Refresh:
- Jun 2 at 6:06 pm
Property Features for 1201-15 N Tioga Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Com 1
- Parking
- 15
- Parking features
- Offsite, Paved or Surfaced
- Standard status
- Active Under Contract
- APN
- 500700-012-000-0002-001-000-0000
- Size
- 10,193 SF
- Lot size
- 0.62 Acres
Taxes and HOA fees
- Tax Annual Amount
- 53397
Utilities
- Sewer type
- Public Sewer
- Heating system
- Heat Pump (Heating), Natural Gas, Forced Air, Electric (Heating)
- Cooling system
- Heat Pump
- Water source
- Public
Building Details
- Year built
- 1980
- Floors in Building
- 1
- Flooring type
- Carpet, Linoleum, Vinyl
- Building materials
- Frame, Concrete, WoodSiding
- Roof type
- Metal, Flat
Listing agent Andrew Schreck License #10401361299 (585) 802-7827
Listing office Warren Real Estate of Ithaca Inc. (Downtown) 140 Seneca Way Suite 200, Ithaca, NY (607) 257-0666
Listing date Jan 7, 2026
MLS# R1656823
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Fully leased, turn‑key commercial asset providing immediate and stable income.
- Prime corner lot location in Ithaca's highly desirable Fall Creek neighborhood with outstanding visibility.
- Diverse mix of thriving local businesses as tenants (restaurant, coffee shop, yoga, retail, bar, etc.).
- Flexible zoning with long‑term upside potential for redevelopment or expansion.
- Ample off‑street parking enhances accessibility for tenants and customers.
- Located one block from Ithaca Falls, benefiting from strong foot traffic and a vibrant community.
Overview
This fully leased commercial property is located in the Fall Creek neighborhood of Ithaca. Situated on a corner lot spanning four parcels, the property offers visibility and flexible zoning. The property is home to a mix of local businesses, including a restaurant, coffee shop, yoga studio, Pilates studio, Tae Kwon Do studio, boutique retail store, bar, and thrift store. All units are fully rented, providing income. The property is located one block from Ithaca Falls, benefiting from foot traffic and a surrounding community of activity. Off-street parking enhances accessibility for tenants and customers. The property, with a size of 10193 square feet and a lot size of 0.62 acres, is suitable for investors seeking cash flow, owner-users, or buyers exploring redevelopment or expansion opportunities under optimal zoning conditions.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $183.5k | $18.00 |
| − Vacancy | −$7.7k | −$0.76 |
| EGI | $175.8k | $17.24 |
| − OpEx | −$43.9k | −$4.31 |
| NOI | $131.8k | $12.93 |
10,193 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.88M
$1.65M – $2.20M
NOI $131,826 @ 7.0% cap · market cap 6.59%
Second Best
Retail
$1.85M
$1.62M – $2.16M
NOI $129,600 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$3.18M
$2.78M – $3.71M
NOI $222,646 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Shopping centers
Similar Places Nearby
- Franklin Market — 435 Franklin St, Ithaca, NY 14850
Location Insight
- Map
- Local Demand
- City
- Ithaca
- County
- Tompkins
- State
- New York
- Longitude
- -76.497605
- Latitude
- 42.453498
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - Fully leased commercial property in Ithaca's desirable Fall Creek neighborhood.
Where is this shopping center located?
The property is located at 1201-15 N Tioga Street Ithaca, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Fully leased, turn‑key commercial asset providing immediate and stable income.; Prime corner lot location in Ithaca's highly desirable Fall Creek neighborhood with outstanding visibility.; Diverse mix of thriving local businesses as tenants (restaurant, coffee shop, yoga, retail, bar, etc.).
